MONTREAL, Oct. 28, 2005 – The Co-operators Group Limited marked a milestone in its sixty year history as the inaugural Quebec Region Committee meeting of member-owners was convened today in Montreal.
The committee was created after two co-operative organizations with significant presence in Quebec, La Coop f�d�r�e and Mountain Equipment Co-op, joined long-time member-owner the Co-op Housing Federation of Canada to form the Quebec Region Committee. Three member-owners are required for the creation of a Region Committee and for eligibility to elect a director to the board of The Co-operators Group.
In welcoming delegates, The Co-operators President and CEO Kathy Bardswick said, “our vision of having an organization with its governance truly reflective of all regions in Canada is being realized in this inaugural meeting.”
The Co-operators is a group of companies owned by 31 Canadian co-operatives and like-minded organizations. The addition of new member-owners creates mutual benefits. They provide additional access to the Quebec market for The Co-operators who, as a co-operative, shares profits among member-owners, invests in improving services to members and promotes the well-being of communities.
Regional Committees, which meet twice annually, are comprised of representatives of member-owners to serve as a communication medium between the members in the region and The Co-operators. Today’s meeting also marked the beginning of the process that will lead to the democratic election of a new member of The Co-operators Board of Directors to represent the region, next spring.
“The Co-operators has significant and growing presence in Quebec through our companies L’Union Canadienne, Sovereign and HB/Coseco, and now we have strong Quebec-based guidance and oversight from a governance perspective,” said Bardswick. “As The Co-operators group of companies builds its presence here, we are well positioned to increasingly serve the needs of clients in Quebec.”
The Co-operators Group will begin offering individual life insurance products in Quebec in the new year. In recognition of its growing presence in the province, The Co-operators will hold its annual general meeting in Montreal in April 2006.
About The Co-operators:
Based in Guelph, The Co-operators is a group of Canadian companies focussing on home, auto, life, group, commercial and farm insurance, as well as investment products and property management and development. Owned by 31 Canadian co-operative organizations, The Co-operators provides insurance protection to more than two million Canadians and has assets exceeding $6 billion. The Co-operators is well known for its philanthropy and community involvement. For the past two years, The Co-operators has been named among Canada’s 50 Best Employers by Report on Business magazine and Canada’s Top 100 Employers by Maclean’s magazine.