DAILY NEWS Mar 4, 2010 4:50 PM - 2 comments

Women make up 17% of the board members in Canada's finance and insurance companies: Catalyst

TEXT SIZE bigger text smaller text

Women made up 17.4% of the total number of directors in 81 finance and insurance companies surveyed in 2009 by Catalyst, an organization that provides resources related to the women’s leadership development. The biennial count in 2009 Catalyst Census: Financial Post 500 Women Board Directors surveyed 478 of the National Post's Top 500 companies in 2009. Overall, Catalyst's survey found the percentage of female board directors nudged upward by only one percentage point in two years. Leading the way was the arts, entertainment and recreation industry. Women filled up 36% of the board seats in this industry, although only six companies in this industry were included in the survey. The mining, quarrying, and oil and gas extraction industry had the lowest percentage (6.7%) of women board directors. Fifty-nine companies in this industry were surveyed. Individual property and casualty insurers appeared in lists for both the 'Companies with 25% or More Female Directors,' and in the list of 'Companies with Zero Women Directors.' The Manitoba Public Insurance Corporation (6 out of 10 directors), the Insurance Corporation of B.C. (3 of 9 directors), Chubb Insurance Company of Canada (2 of 8 directors) and ING Canada Inc. (now Intact, with 3 of 12 directors), all had 25% or more female directors. Axa Canada Inc. (6 directors), Fairfax Financial Holdings Ltd (6 directors), Groupe promutuel, fédération de sociétés mutuelles d’assurance générale (10 directors) and Kingsway Financial Services Inc. (7 directors) each reported having zero women on their boards. Catalyst began producing the biennial census in 1998 to assess the status of women on boards of the largest companies in Canada.



Horizontal ruler

Reader Comments

Most recent firstOldest first

Eldon Gaw

This kind of article really disturbs me, and it should disturb everyone, women and men alike. Professionals, are not catagorized by sex. Professionals are professionals. Whether they are men or women should not enter the asset or debit side of ANY ledger, or be in any news article. Just like language, nation of origin, colour or heritage. To do so simply encourages stereotyping, biasing, lessens our personal values.. I don't remember the teacher profession publishing the ratio of females that are on school boards, the dental medical professions publishing anything like this either. Likewise archetects or engineers, real estate boards or what ever. Please, for the sake of us, the readers of your publication, and the world at large, confine your articles to information that is useful in the insurance world. Eldon Gaw

Posted March 6, 2010 09:03 AM


Dale Wilcox

Great information. I am one of those women directors, and currently sit on the Board of FaithLife Financial. Currently I am looking for women with previous board experience that could be appointed to our Board. We have identified that we need an accountant, a Canadian lawyer, or a woman with insurance industry experience to add to our compentency level at the Board table. I do think all Boards need to find ways to bring candidates forward and through Board training help them to become contributing members. Dale Wilcox

Posted March 5, 2010 10:35 AM


FirstPrevNextLast
Horizontal Ruler

Post A Comment

Disclaimer
Note: By submitting your comments you acknowledge that Canadian Underwriter has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Your Name (this will appear with your post) *

Email Address (will not be published) *

Comments *



* mandatory fields