UPDATED ON: Friday, June 24, 2011
The Economical Insurance Group:
Karen Gavan, FCA, ICD.D,
President and Chief Executive Officer
From The Globe and Mail
Gerald Hooper, Chairman of the Board of Directors, is pleased to announce the appointment of Karen Gavan as President and Chief Executive Officer of The Economical Insurance Group® (TEIG®).
Ms. Gavan has been a Director of Economical Mutual Insurance Company since 2008, and served as Chair of the Special Committee with responsibility for the Company’s demutualization since 2010. She was formerly the Chief Operating Officer and Chief Financial Officer of Transamerica Life and AEGON Fund Management Inc. Prior to that, she held senior management positions with Imperial Life Assurance Company and with Canada Life Assurance Company during its demutualization. She is a Chartered Accountant, a Fellow of the Institute of Chartered Accountants of Ontario, and holds the ICD.D designation from the Institute of Corporate Directors.
The Economical Insurance Group is one of the largest property and casualty insurers in Canada with $1.7 billion in annual premium volume and $4.6 billion in assets. Based in Waterloo, Ontario, this Canadian-owned and operated company services customers’ needs through branches and service offices across Canada and in the United States.