July 30, 2016 7:44 AM ET

Insurance

Company Overview of Economical Insurance Group Ltd.

Company Overview

Economical Insurance Group Ltd. provides property and casualty insurance products to customers in Canada. The company offers personal insurance products, such as automobile, property, and liability insurances; business insurance solutions for small and mid-size businesses, groups or associations, and commercial vehicles; farm insurance products, which include premier dairy, premier poultry, and winery insurance solutions; and surety insurance solutions in the areas of contract and commercial surety. It markets and sells its products through independent insurance brokers. The company was founded in 1871 and is headquartered in Waterloo, Canada. It has branches in Calgary, Edmonton, Vancouver,...

111 Westmount Road South

P.O. Box 2000

Waterloo, ON N2J 4S4

Canada

Founded in 1871

Phone:

519-570-8200

Fax:

519-570-8389

Key Executives for Economical Insurance Group Ltd.

Chief Executive Officer, President, Director and Member of Investment Committee
Chief Financial Officer, Senior Vice-President and President of Economical Financial
Chief Operating Officer and Senior Vice-President
Chief Information Officer and Senior Vice President
Chief Marketing Officer and Senior Vice President
Compensation as of Fiscal Year 2016.

Economical Insurance Group Ltd. Key Developments

Economical Insurance Names Rowan Saunders as President and CEO, Effective November 1, 2016

The Board of Directors of Economical Insurance announced that it has named Rowan Saunders as President and CEO effective November 1, 2016. This follows the announcement on February 19, 2016, that current President and CEO, Karen Gavan, will retire from the company and the board in 2016. Having served as President and CEO of RSA Canada since 2003, Mr. Saunders will further the vision of Economical to be one of Canada's top P&C insurance companies and advance the company's strategic initiatives. Ms. Gavan will remain as President and CEO until Mr. Saunders assumes office.

Economical Insurance Announces Consolidated Financial Results for the Quarter Ended March 31, 2016

Economical Insurance announced consolidated financial results for the quarter ended March 31, 2016. For the quarter, the company reported net earned premiums of $481.4 million against $469.4 million a year ago. Underwriting loss was $5.4 million against $26.8 million a year ago. Investment income was $42.6 million against $90.3 million a year ago. Net income was $28.5 million against $34.2 million a year ago.

Economical Insurance Group Ltd., Annual General Meeting, May 03, 2016

Economical Insurance Group Ltd., Annual General Meeting, May 03, 2016, at 15:00 US Eastern Standard Time. Location: Bingemans Conference Centre 425 Bingemans Centre Drive in Kitchener Canada Agenda: To receive the financial statements for the year ended December 31, 2015 and to vote on the appointment of the external auditor and the election of directors.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 17, 2016
Western Financial Insurance Company
 

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