TORONTO, Nov. 29, 2012 /CNW/ - Dick Freeborough, Chairman of Foresters™
Board of Directors, announced today the election of Sonia Baxendale as
the newest member of the Board. As part of her responsibilities, Sonia
will join the Board's Audit, Risk and Investment Committee.
"I am very pleased that Ms Baxendale, one of the most highly respected
women in Canadian banking, has agreed to join Foresters Board of
Directors," says Freeborough. "Her experience with corporate boards
combined with her distinguished career in the financial sector will
greatly enhance our ability to serve our members."
Baxendale has almost two decades of progressive financial experience in
both Canada and the Caribbean, holding leadership roles in asset
management, global private banking and investment management. Most
recently, she served as President, CIBC Retail Banking and Wealth
Management, where she was accountable for 80 percent of the
corporation's revenue and profitability. She also spent several years
with Amex Bank of Canada. Baxendale graduated from the University of
Toronto in 1984 with an Honours Bachelor of Arts in Political Science
Foresters™ is a life insurance provider with a difference. The
fraternal benefit society, founded in 1874, supports family well-being
through quality products, unique member benefits and inspiring
community activities. Foresters shares its financial strength with over
one million members in Canada, the United States and the United
Kingdom. Foresters has assets of over $8.6 billion with liabilities of
$7.1 billion resulting in a surplus of $1.4 billion1 (all figures in Canadian dollars as of December 31, 2011) and maintains
an "A" (Excellent) rating by A.M. Best2. For more information, visit foresters.com.
1This surplus represents excess funds above the amount required as legal
reserves for insurance and annuity certificates in force and provides
additional assurances to our members for our long term financial
2 An "A" (Excellent) rating is assigned to companies that have a strong
ability to meet their ongoing obligations to policyholders and have, on
balance, excellent balance sheet strength, operating performance and
business profile when compared to the standards established by A.M.
Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being
superior ratings and A and A- being excellent ratings. In assigning
Foresters rating on July 6, 2012, A.M. Best stated that the rating
outlook is "stable", which means it is unlikely to change in the near
future. See ambest.com for our latest rating.
For further information:
For media inquiries, please contact:
T 416 467 2544
T 855 574 7055 Toll-free (NA)