Economical Insurance elects members to its board of directors

Economical Insurance elects members to its board of directors | Insurance Business

Economical Insurance elects members to its board of directors

Economical Insurance has re-elected several members to its board of directors.

John Bowey, Elizabeth DelBianco, Barbara Fraser, Robert McFarlane and Rowan Saunders have all been appointed to the board of directors of Economical Mutual Insurance Company for a further three-year term of office. Their terms end at the close of Economical’s annual meeting in 2023.

The individuals were elected during Economical’s annual meeting held just yesterday. The meeting was held over a live audio webcast, and the votes for the board members were similarly conducted through electronic means.

In addition to electing board members during the meeting, Economical Insurance also voted to appoint Ernst & Young LLP as its auditor.

Read more: History in the making

As of March 31, 2020, Economical Insurance had approximately $2.6 billion in annualized gross written premiums, as well as over $5.8 billion in assets. The company has been taking steps towards demutualization, which could turn it into the first Canadian mutual insurer to transition to public ownership.