Canadian Underwriter

Chief executive to leave public insurer in February

January 18, 2023   by Jason Contant

Nicolas Jimenez, ICBC president and CEO

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Insurance Corporation of British Columbia (ICBC) president and CEO Nicolas Jiminez will be leaving his post on Feb. 3 to become president and CEO of B.C. Ferries, ICBC announced Tuesday.

ICBC’s board of directors made the announcement in a press release on Tuesday. The board appointed chief financial officer, Phil Leong, as interim president and CEO. Leong has been with ICBC since 2008, working in progressive leadership roles within the finance division.

ICBC’s board will be conducting a search process to identify a permanent replacement.

“It is a day of mixed emotions to be saying goodbye to Nicolas after almost a 20-year career with ICBC,” board chairwoman Catherine Holt said in the release. “We look back on his contributions to ICBC with admiration and appreciation, especially for his years as president and CEO and the remarkable transformation he and his leadership team led for B.C.’s public auto insurer.”

During Jiminez’s tenure, “ICBC has overcome significant challenges to deliver one of the most affordable and care-based insurance models in Canada,” Holt added. “He has also developed a supportive and collaborative culture, which will help ensure ICBC has a stable but innovative future.”

Jiminez joined ICBC in 2003 and worked in a variety of senior roles in insurance, corporate development, driver licensing and road safety, prior to being named president and CEO in July 2018. Before joining ICBC, Nicolas worked in strategy and public sector management, which included roles in the Parliament of Canada, the Privy Council Office (Government of Canada), B.C. Hydro and IBM.

He has a Master’s degree in public administration from both Harvard University and the University of Victoria, as well as a Bachelor’s degree in political science from Wilfrid Laurier University in Ontario.

B.C. Ferries said in a statement that Jiminez was selected following an international executive search. He will assume his new role on March 6.