Opens First Insurance Centre

    TORONTO, Aug. 17 /CNW/ - Scotiabank Group today launched an enhanced,
comprehensive suite of insurance products and services, with new convenient
online capabilities and the Group's first retail storefront, a ScotiaLife
Financial insurance centre. The suite includes a new home and auto insurance
program as well as additional life and health products - now with access to
online quotes.
    "Insurance is a critical component of Scotiabank Group's strategic
priorities. Today's events represent the culmination of efforts in executing
the Group's strategic initiatives. We continue to see insurance as a growth
platform for Scotiabank Group and we will endeavour to further expand the
insurance business going forward," said Robin Hibberd, Executive
Vice-President, Personal Lending and Insurance, Scotiabank.
    ScotiaLife Financial, the Scotiabank Group's new Canadian insurance
brand, is building on a solid foundation of products, services and expertise
that includes life and health, creditor, travel and now home and auto
insurance.
    The home and auto insurance offering provides comprehensive coverage for
vehicles, including motor homes and snowmobiles, as well as residential and
vacation homes, condominiums and the personal property of renters. The initial
response to the program has been overwhelming.
    "Our new home and auto insurance offer is something our customers have
been enquiring about for some time now. We are committed to expanding our
product suite, acquiring new customers and providing exceptional levels of
service while growing our insurance business," said Mark Cummings,
Senior-Vice-President and Head, Insurance Canada, Scotiabank.
    ScotiaLife Financial now also offers two new life and health products,
exclusively for Scotiabank customers. ScotiaLife Critical Illness Insurance
complements customers' existing disability insurance and extended health care
plans, paying a one-time lump-sum benefit following diagnosis of heart
attacks, cancer or strokes, with up to $100,000 of coverage. ScotiaLife Health
and Dental Insurance is coverage that includes emergency travel protection and
optional dental coverage for individuals not covered by an employer plan or
looking to supplement existing plans.
    Scotiabank Group is also focused on how its customers can access
insurance products and services. The ScotiaLife Financial insurance centre
represents a new distribution channel and will initially offer Scotia Home and
Auto insurance with licensed agents on-site.
    "We believe our first insurance centre will provide local access for
those individuals who prefer a face-to-face experience. We will examine the
opportunities to open more pilot locations in the future," said Mr. Cummings.
    In addition, enhancements to ScotiaLife Financial's Web site are now
available allowing customers to access and experience comprehensive insurance
services including new product information supported by robust quotation and
application tools at scotialifefinancial.com.
    "We understand that customers are looking for solutions from a trusted
source," said Mr. Cummings. "We appreciate the loyalty of our customers and
our goal is to provide them with comprehensive insurance solutions in a
convenient and straight-forward manner."

    Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With close to 69,000 employees, Scotiabank
Group and its affiliates serve approximately 12.8 million customers in some 50
countries around the world. Scotiabank offers a diverse range of products and
services including personal, commercial, corporate and investment banking.
With more than $513 billion in assets (as at April 30, 2009), Scotiabank
trades on the Toronto (BNS) and New York Exchanges (BNS). For more information
please visit www.scotiabank.com.