Ken Keenan appointed President
TORONTO, Jan. 7 2008 – The Royal & SunAlliance Canada Group (R&SA), a leading property, automobile and commercial insurer announced today the completion of the acquisition of Canadian Northern Shield Insurance Company (CNS) from The CUMIS Group Limited, strengthening R&SA’s broker business in B.C.
Effective January 1, Ken Keenan has been appointed President of CNS, the market leading intermediated insurer in British Columbia with annual premiums of approximately $164 million in 2006. Most recently, Keenan was Director of Sales and Marketing at R&SA in Ireland.
Rowan Saunders, President & CEO of R&SA, says, “This acquisition further demonstrates our commitment as a company to the long-term growth and sustainability of the broker channel in Canada. I have great confidence in Ken and the CNS team and look forward to working closely with our broker partners to provide trusted advice and customer service focused insurance products to consumers and businesses in B.C.”
“I’m pleased to join CNS and relocate to British Columbia,” says Keenan. “This is an exciting new chapter for R&SA and CNS and I look forward to leading this business and working closely with all of the employees and broker partners across the province.”
CNS, which offers a full range of products including personal property, commercial and private automobile, is represented by more than 200 brokers servicing customers across the province.
R&SA received regulatory approval from the Competition Bureau and the Office of the Superintendent of Financial Institutions in mid December, 2007.
About Canadian Northern Shield Insurance Company
Canadian Northern Shield Insurance Company (CNS) is the market leading insurer of personal property, commercial and private automobiles in British Columbia, with annual written premiums of approximately $164 million in 2006. CNS is headquartered in Vancouver, and has full service underwriting and claims offices in Victoria, Nanaimo and Kelowna, with a claims service office in Kamloops and is represented by more than 200 brokers across the province. CNS is a member of the Royal & SunAlliance Canada Group of companies.
About Royal & SunAlliance Canada
The Royal & SunAlliance Canada group includes Roins Financial Services Limited, Royal & Sun Alliance Insurance Company of Canada, Quebec Assurance Company, Johnson Inc., Western Assurance Company, Ascentus Insurance Ltd. and is part of Royal & Sun Alliance Insurance Group plc. The Royal & SunAlliance Canada group employs approximately 2,500 people and is represented by a large network of insurance brokers across the country. In 2006, the Canadian Group wrote $1.5 billion in direct premiums with assets exceeding $4.9 billion. Internationally, Royal & Sun Alliance Insurance Group plc employs about 24,000 people and transacts business in more than 130 countries with assets of approximately $40 billion. www.royalsunalliance.com.
Tags: Acquisition, CUMIS, RSA
