Investors

We are one of Canada’s leading P&C insurance companies. Our national, multi-line and multi-channel business model has been built through a combination of strong pricing, risk selection, and claims management capabilities, and a relentless focus on delivering superior service to our customers and brokers. Our business benefits from both scale and diversification, offering a broad range of P&C insurance solutions for everything from pets to complex commercial operations. We are the sixth largest P&C insurance carrier in Canada and the third largest in the broker channel. Our subsidiary, Sonnet Insurance, has the largest fully digital direct-to-consumer insurance business in Canada.¹

¹Based on market share by DWP. Includes only insurance carriers that require all customers to bind online.

Delivering superior experiences to our customers and brokers is core to our strategy. It drove us to build our leading digital platforms, Sonnet and Vyne, which have been rapidly adopted by customers and brokers. Sonnet was the first fully digital P&C insurance platform widely available in Canada and continues to be an industry leader. It appeals to customers with its easy-to understand language and real-time processing, which enables our customers to purchase property and auto insurance in as little as five minutes. We have a long-standing presence and key relationships within the broker channel, which we have built upon with significant investments in our underwriting capabilities and expansion of our product lines. Our claims operation provides our customers and brokers with peace of mind that we will be there when they need us most. We provide our customers with a quality repair satisfaction guarantee, and our dedicated team of over 1,200 claims professionals has significant in-house capabilities designed to ensure that our customers receive caring, fast, friendly service.

Our innovative digital platforms, Sonnet and Vyne, are driving strong growth and profitability in our personal insurance, Individually Rated Commercial Auto (IRCA), and Small and Medium Enterprise (SME) lines. The automation of our underwriting processes has transformed our business model away from intensive manual processing. What used to require days now occurs in real-time, which helps us meet the expectations of our digitally connected customers and brokers and significantly expands our reach and processing capacity. Our digital platforms are highly scalable and automated, which drives significant operational efficiencies, including lower underwriting and operational costs, as well as a greater ability to uniformly apply underwriting standards to new and recurring business.

The acquisitions of McFarlan Rowlands and Drayden expanded our national broker platform with immediate scale across Ontario and Alberta. In 2024, we now have over $1 billion in annualized premiums under management in the platform.

We have built a growing and profitable commercial insurance business tailored for the Canadian market. As part of a broader corporate transformation and digitization strategy, we have focused on equipping our commercial lines business with strong underwriting, pricing, and risk selection capabilities, while further strengthening our broker relationships and operational capabilities. We believe that our data management and analytics expertise provide us with a meaningful competitive advantage in segmentation and underwriting.

We have improved our profitability through underwriting discipline, claims management, and improved risk selection, which has been supported by our use of sophisticated pricing methodologies and deployment of advanced analytics. We are focused on growing our most profitable segments and reducing our exposure to more volatile lines of business. Our digital platforms, which largely underwrite our personal and individually-rated commercial auto products, utilize sophisticated marketing, pricing, and predictive analytic capabilities. Our underwriting process utilizes in-depth customer information, a range of third-party data, and advanced pricing, segmentation, and fraud detection methodologies to integrate personalized offers with a seamless digital customer experience.

We have an unlevered balance sheet with capital well in excess of regulatory minimums, which provides us with significant financial flexibility to drive value creation and execute our strategy.

We are led by a team of highly experienced and innovative executives. Rowan Saunders, our President and Chief Executive Officer (CEO), has over 35 years of experience in the P&C insurance industry and has led us through a period of significant transformation. Our senior leadership team has an average of more than 15 years of P&C insurance industry experience and fosters a dynamic, customer-focused culture with strong employee engagement.