Strengthening executive team to advance company's strategy
WATERLOO, ON, Nov. 14, 2017 /CNW/ - Economical Insurance today announced another significant addition to its executive team. Paul MacDonald will be joining the company in the new role of Executive Vice-President (EVP) of Personal Insurance effective early January 2018.
"We are pleased to welcome Paul to the executive team as we deepen our capabilities to deliver the most relevant products and experience to our customers and brokers," said Rowan Saunders, President and CEO of Economical. "Paul brings extensive industry expertise in leading underwriting and claims functions, product and distribution strategy, and business transformation and integration — all critical elements as we drive toward our vision to become one of Canada's top property and casualty insurers."
"Paul will have P&L accountability for broker-distributed personal insurance and support a renewed focus in personal lines across our distribution channels. He will work in close partnership with Tom Reikman, Chief Distribution Officer, and Fabian Richenberger, EVP, Commercial Insurance. This is an exciting time as we continue our progress towards a new business platform and policy administration system for personal insurance, and an enhanced senior executive team," added Saunders.
Prior to joining Economical, Mr. MacDonald was Senior Vice-President and Chief Claims Officer at RSA Canada. Before RSA, he was Vice-President, Canadian Operations for SGI CANADA, directing the company's underwriting, broker services, business development, and regional claims operations. His experience also includes insurance consulting with PricewaterhouseCoopers and senior leadership positions with Aon Risk Services.
Mr. MacDonald has an MBA from Northwestern University/York University and undergraduate degrees in law (Dalhousie University) and arts (Queen's University).
About Economical Insurance
Founded in 1871, Economical is one of Canada's leading property and casualty insurers, with more than $2.2 billion in annualized premium volume and more than $5.6 billion in assets as at September 30, 2017. Based in Waterloo, this Canadian-owned and operated company services the insurance needs of more than one million customers across the country. Economical conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Sonnet, Petsecure, Economical Financial, and Family Insurance Solutions.
SOURCE Economical Insurance