Postal Service Disruption | Interruption des services postaux

Show more Show less

Government of Saskatchewan ministries, Crown corporations and organizations are working to minimize the impacts of the postal service disruption.

Les ministères, les sociétés d’État et les organismes du gouvernement de la Saskatchewan travaillent à réduire au minimum les répercussions de l’interruption des services postaux.

Language

Google Translate Disclaimer

A number of pages on the Government of Saskatchewan's website have been professionally translated in French. These translations are identified by a yellow box in the right or left rail that resembles the link below. The home page for French-language content on this site can be found at:

Renseignements en Français

Where an official translation is not available, Google™ Translate can be used. Google™ Translate is a free online language translation service that can translate text and web pages into different languages. Translations are made available to increase access to Government of Saskatchewan content for populations whose first language is not English.

Software-based translations do not approach the fluency of a native speaker or possess the skill of a professional translator. The translation should not be considered exact, and may include incorrect or offensive language. The Government of Saskatchewan does not warrant the accuracy, reliability or timeliness of any information translated by this system. Some files or items cannot be translated, including graphs, photos and other file formats such as portable document formats (PDFs).

Any person or entities that rely on information obtained from the system does so at his or her own risk. Government of Saskatchewan is not responsible for any damage or issues that may possibly result from using translated website content. If you have any questions about Google™ Translate, please visit: Google™ Translate FAQs.

GOVERNMENT WELCOMES CROWN LIFE/CANADA LIFE TRANSACTION

Released on May 26, 1998

Deputy Premier and Crown Investments Corporation Minister Dwain

Lingenfelter today welcomed the sale of most of Crown Life's insurance

business to Canada Life.



"The deal secures jobs in Regina, provides an opportunity to grow as

part of a larger company and will allow the province to recover its

investment in Crown Life," Lingenfelter said.



The province, through Crown Investments Corporation, owns 94 per cent

of HARO Financial corporation which holds 64.44 per cent of Crown

Life's common shares. It provided $272 million to help bring the

company to Regina and a further loan of $149.5 million in 1995. The

1995 loan will be repaid when the deal closes and the balance of the

province's investment will be recovered from the $1.5 billion in

assets which remain in the hands of Crown Life.



"Crown Life has improved its financial position since coming to

Regina, but like all companies in the financial services industry, it

has been forced to consider its future viability in the face of rapid

consolidation," Lingenfelter said. "It has concluded that the best

way to secure the future is to join its insurance business with the

much larger entity of Canada Life."



"CIC has negotiated a Memorandum of Understanding with Canada

Life which sets out its commitments to jobs in its new Western

Regional Office as well as programs to support the Saskatchewan

community," Lingenfelter concluded. "We look forward to a long

and fruitful relationship, as one of the top five companies in

the industry uses Regina as a base to expand its business in

Western Canada."



-30-



For more information, contact:



John Wright

Crown Investments Corporation

Regina

Phone: (306) 787-4553

We need your feedback to improve saskatchewan.ca. Help us improve