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Rowan Saunders
2019 Executive Outlook | Rowan Saunders, Economical
January 4, 2019 Canadian UnderwriterCanadian Underwriter approached Canadian P&C industry executives with two questions: 1) What is the single most important change the industry must make looking forward into 2019? 2) How might this change be brought about? Their answers, featured in our 2019…
Economical set to roll out ‘full training’ to brokers on Vyne
May 10, 2018 by Greg MeckbachBrokers will soon be able to learn Vyne, Economical Insurance’s Guidewire-based computer system, touted as a way of administering insurance policies with less manual intervention. “Soon we will roll be rolling out full training to 22,000 brokers across the country,”…
What happened to an Ontario auto insurer that actually cut rates by 15%
March 9, 2018 by Greg MeckbachOntario’s ill-fated effort to force auto insurance rates down 15% is having some lingering effects on one insurer. “I think we were one of the few [Ontario auto insurers] that met the government’s mandated 15% rate reduction and that has…
Economical Insurance aims to ‘participate in acquisitions’
March 8, 2018 by Greg MeckbachIf Economical Insurance demutualizes and becomes traded on the stock market, it will be looking for other insurers to acquire, CEO Rowan Saunders told Canadian Underwriter Wednesday. “Part of the rationale” of going through demutualization is to raise money from…
2018 Outlook: Rowan Saunders, President, CEO, Economical Insurance
January 2, 2018 Rowan SaundersThe continued deterioration and loss trends in automobile insurance and the impact of climate change will be the two biggest trends affecting Canada’s property and casualty insurance market in 2018. Auto is a challenge in many parts of the country,…
Combined ratio, net loss for Economical Insurance up in 2017 Q3 over 2016 Q3
November 6, 2017 by Canadian UnderwriterThe impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of…
‘Clock is running’ as Economical Insurance prepares for public offering: Saunders
October 26, 2017 Greg Meckbach, Associate EditorEconomical Insurance is looking to “expand its appetite and capabilities into other segments” of the market as it prepares for an initial public offering, president and chief executive officer Rowan Saunders suggested Thursday to Ontario brokers in Ottawa, while Gore…
Roger Dunbar appointed to lead Sonnet
August 11, 2017 by Canadian UnderwriterSonnet Insurance Company announced on Friday that Roger Dunbar has been appointed to lead the company, Economical Insurance’s digital direct channel, effective Monday, Aug. 14. “With a career focused on digital innovation and improved customer experience, Dunbar will lead a…
Economical reports 12.8% increase in gross written premiums in Q2 2017, 8.3 point increase in combined ratio to 112.8%
August 4, 2017 by Canadian UnderwriterEconomical Insurance reported a 12.8% increase in gross written premiums (GWP) in the second quarter of 2017 to $660.6 million, driven by strong personal lines growth, including contributions from Sonnet and Petline. “While we generated significant growth in gross written…
Economical Insurance posts net income of $5.3 million in 2017 Q1, down from $28.5 million in prior-year quarter
May 8, 2017 by Canadian UnderwriterAuto lines, catastrophe and weather-related losses served as a drag on underwriting results which, in turn, contributed to Economical Insurance posting net income of $5.3 million in 2017 Q1 compared to $28.5 million in 2016 Q1. “Higher investment income was…
Economical Insurance gross written premiums up 4.8% in Q4 2016 to $521.8 million
February 22, 2017 by Canadian UnderwriterEconomical Insurance has reported that gross written premiums (GWP) for the fourth quarter of 2016 ending Dec. 31 grew by $23.8 million, or 4.8%, to $521.8 million from $498 million in Q4 2015. In particular, personal lines premiums grew by…
Economical Insurance completes acquisition of Canada’s largest pet insurer
January 3, 2017 by Canadian UnderwriterEconomical Mutual Insurance Company announced on Tuesday that is has completed its previously announced acquisition of Western Financial Insurance Company (WFIC) and its flagship brand Petsecure from Desjardins Group. Concurrent with the acquisition, WFIC changed its legal name to Petline…