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New President and Chief Executive Officer for Empire Life

TORONTO, ONTARIO -- (Marketwired) -- 05/13/14 -- Duncan Jackman, Chairman, Chief Executive Officer and President of E-L Financial Corporation Limited ("E-L") (TSX: ELF) (TSX: ELF.PR.F) (TSX: ELF.PR.G) (TSX: ELF.PR.H) and Chairman of the Board of Directors of The Empire Life Insurance Company (Empire Life) is pleased to announce the appointment of Mark Sylvia as President and Chief Executive Officer of Empire Life effective June 2, 2014. Mr. Sylvia will succeed Les Herr, who will be stepping down as CEO at the end of May.

"Mr. Sylvia has an impressive track record of leading and growing mid-sized and specialty insurance companies in Canada by focusing on service, simplicity and strategic partnerships," says Mr. Jackman. "Empire Life posted record earnings in 2013 and continues to be a well-managed and well-capitalized company. The Board is confident that Mr. Sylvia will build on the current strength of the company while leading Empire Life to its next phase of growth and success."

Mr. Sylvia comes to Empire Life from his current role as President of Clarity Underwriting Managers Inc., an insurance consultancy firm he founded in 2010. From 1999 to 2010 he served as Chief Executive Officer of Echelon General Insurance Company, President & Chief Operating Officer of Trent Health Insurance Service Corp and Canadian Insurance Marketing Inc., all of which were affiliated companies of EGI Financial Holdings Inc. From 1988 until 1999 Mr. Sylvia was President and Chief Executive Officer of Hartford Life Insurance Company of Canada.

Mr. Sylvia is a Fellow Chartered Insurance Professional (1979) of the Insurance Institute of Canada, and a Fellow of the Life Management Institute (1994) of the Life Office Management Association Inc., and is a member of the American Society of Safety Engineers and the Society for Risk Analysis.

About Empire Life:

A subsidiary of E-L Financial Corporation Limited and in business since 1923, Empire Life helps Canadians build wealth and protect their financial security with competitive individual and group life and health insurance, investment and retirement products. The company's vision is to be known for simplicity, being easy to do business with and having a personal touch.

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