WATERLOO, ON, Feb. 6, 2015 /CNW/ - Economical Insurance today announced that Charles M. W. Ormston has retired from the board.
"On behalf of Economical and its board of directors, I want to express our deep appreciation to Charlie for his 20 years of dedicated service," said Gerry Hooper, chair of the board of directors. "His insights and business acumen helped guide the company's tremendous growth over the past two decades and his leadership of our Human Resources and Compensation Committee was greatly valued. We will miss his counsel but wish him well in his future endeavours."
Mr. Ormston was appointed to Economical's board in 1995. Since March 2005, he has been the chair of Economical's Human Resources and Compensation Committee. He also served on the board's special committee on demutualization from 2010 until 2014.
Mr. Ormston is a past president of the Kitchener and Waterloo Community Foundation, a director of the Walter Bean Grand River Community Trails Foundation, and a director of the Grand River Conservation Foundation, among others. In 2012, he was awarded The Queen Elizabeth II Diamond Jubilee Medal for his contributions to his community.
Founded in 1871, Economical Insurance is one of Canada's leading property and casualty insurers, with $2.0 billion in annual premium volume and $5.2 billion in assets as at September 30, 2014. Based in Waterloo, this Canadian-owned and operated group services the insurance needs of more than one million customers across the country. In 2010, Economical announced its decision to become the first federally-regulated mutual property and casualty insurance company to demutualize. Economical Insurance conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Family Insurance Solutions, Federation Insurance and Economical Financial.
SOURCE Economical Insurance
For further information: Doug Maybee, Economical Insurance (T) 519.570.8249, (C) 519.404.0989, [email protected]