He is the giver of life; we are the receivers of life. Though life is something we possess, it is what God IS. When God gives us life, He is giving us a small part of Himself. God IS life, love, truth, and all that is good. From Him we can possess these things, but only He IS these things. We can have love, know truth, and possess knowledge of that which is good, but only God IS truth, love, life, and all that is good.
God IS Life.