June 16, 2021 by Jason Contant
Ryan Michel, president and CEO of Allstate Insurance Company of Canada, has been elected chairman of Insurance Bureau of Canada (IBC)’s board of directors.
Michel has more than two decades of industry experience. He is accountable for the Allstate Canada Group of Companies’ property and casualty insurance business, including Allstate Canada, Pembridge Insurance Company, Pafco Insurance Company, Esurance Company of Canada and Ivantage Insurance Brokers.
Allstate Insurance Company of Canada was the 10th largest P&C insurer in Canada last year, with a 3.55% market share and more than $2.1 billion in net premiums written in 2020, according to Canadian Underwriter‘s forthcoming 2021 Statistical Guide, which uses statistics from MSA Research.
“Mr. Michel brings a wealth of industry experience and knowledge to the role,” Don Forgeron, president and CEO of IBC, said in a press release. “We look forward to working with him on several issues aimed at helping consumers and keeping Canada’s insurance industry strong and robust. With Mr. Michel’s leadership, IBC will continue to advance its strategic priorities with communities, stakeholders, and governments across the country.”
As the voice of Canada’s P&C insurance industry, IBC is “uniquely positioned to help advance much-needed public policy discussions,” Michel said. Current issues on the front-burner include pandemic recovery, advancing climate adaptation measures, reforming auto insurance, new technologies, and industry disruptors.
“The global pandemic was, and continues to be, a difficult and unprecedented time for everyone,” Michel said in a statement announcing his appointment. “I’m proud that many Canadian insurers provided relief to consumers and continued to help Canadians recover from everything from floods to hailstorms under challenging circumstances.”
IBC has reported Canadian P&C insurers have offered nearly $2.5 billion in premium relief to consumers since the start of the pandemic.
In addition to his professional work, Michel volunteers with Safe Families Canada, a non-profit organization that temporarily hosts children and provides a network or support to families in crisis while they get back on their feet.
Michel lives in Toronto. He has a Bachelor’s Degree in Mathematics and in Business and Economics from Wheaton College in Illinois, as well as an MBA from the Booth School of Business at the University of Chicago. He’s also a Fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries.
Feature image courtesy of IBC