During its annual general meeting, The Co-operators discussed the results of its latest Integrated Annual Report, which suggests that the insurer should push forward while keeping in mind the volatility of the current business environment.
Over a hundred representatives of the insurance and financial services co-operative’s 44 members were present at The Co-operators’ Annual General Meeting in Moncton. The Integrated Annual Report discussed during the meeting noted that the organization must “move forward strategically, efficiently and mindful of its co-operative values,” as the unpredictable financial, social and environmental spaces undergo rapid changes.
“While a more volatile and less predictable environment presents challenges our organization must adapt to, it also heightens the importance of our role as an insurer,” said The Co-operators president and CEO Rob Wesseling.
Wesseling also briefly touched upon the organization’s payouts last year, noting that the insurer has to step up its role as educator if it wants to reduce policyholder losses.
“In 2017, we paid out more than ever before – nearly $2 billion in claims and benefits to help clients maintain their financial security and peace of mind following a loss. As we help clients recover, we must also work to prevent losses through education and advocacy aimed at building safer, more sustainable and resilient Canadian communities,” he said.
Other highlights from the report include:
