Added to YB: 2026-08-11
Pitch date: 2026-08-09
ELF.TO [neutral]
E-L Financial Corporation Limited
-2.46%
current return
Author Info
Andrew Brown manages Dynasty Trust - a wholesale unit trust investing ONLY in public companies with controlling shareholders. Sign up for the newsletter.
Company Info
E-L Financial Corporation Limited operates as an investment and insurance holding company in Canada. It operates in two segments, E-L Corporate and Empire Life.
Market Cap
CAD 6.2B
Pitch Price
CAD 17.91
Price Target
28.50 (+60%)
Dividend
N/A
EV/EBITDA
3.13
P/E
3.50
EV/Sales
1.92
Sector
Insurance
Category
value
E-L Financial Corp ($ELF.TO)
ELF.TO (holding update): Toronto life insurance holdco controlled by Jackman family, C$6.15B cap. Owns 99.5% Empire Life + C$5.2B equity portfolio, 57% of UNC. Returned 100% since 2023 pitch (incl C$3.15 special divs) yet still ~40% discount to C$28.50 NAV. Geared equity vehicle, but Empire's CSM stagnant on weak new business/high lapses. Optionality: possible Empire sale + minority buyout.
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