Mr. Black: Maritime Life is 76 years old. We are headquartered in Halifax on the East Coast of Canada. Our business is across Canada and is roughly in proportion to where the population is. We do business only through independent agents, which is becoming more common in the Canadian marketplace. But when we decided to do that 20 years ago, we were the only company in Canada that had made that decision.
TWST: Who are your customers?
Mr. Black: Our customers tend to be upscale. Our average size policy is
about twice the industry average. So our customers typically tend to be
from households with $60,000 to $70,000 worth of household income or
more.
TWST: Does the word 'Maritime' have significance?
Mr. Black: Only because sometimes people think we insure boats, which we
don't. We sell life insurance, group insurance and investment products.
Three of the coastal provinces in Canada are collectively known as the
Maritime provinces. So that's how it got the name.
Tickers included in this excerpt: MMF.T
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