RBC celebrated as leading North American wealth manager with two industry award wins

RBC Wealth Management (“RBC”), part of Royal Bank of Canada (RY on TSX and NYSE), has won two industry accolades for its commitment to providing clients with premier wealth management capabilities and unparalleled customer service.

For a fifth consecutive year, RBC received top honours for “Best Private Bank in Canada at the 2016 PWM/The Banker Global Private Banking Awards. RBC was also a finalist for “Best Private Bank for International Customer Service.”  The awards were presented earlier this week in London. The PWM/The Banker Global Private Banking Awards reward excellence in wealth management among banks from the Americas, Europe, Asia, the Middle East and Africa, based on rigorous qualitative and quantitative criteria.

At the 2016 Private Banker International Global Wealth Awards, announced earlier this month, RBC won for “Outstanding Global Private Bank – North America and was also a finalist for “Outstanding Wealth Manager – Customer Relationship Service and Engagement.” The Private Banker International Global Wealth Awards recognize industry-leading wealth management firms, individuals and organizations that are setting new standards for the industry.

“These awards reflect our dedication to helping clients thrive and achieve their long-term financial goals,” said Doug Guzman, group head, RBC Wealth Management & RBC Insurance. “As client expectations evolve, we are continually challenging ourselves to find more and better ways to add value as one of the world’s most trusted and successful financial institutions.”

RBC Wealth Management was also named in 2016, for a third consecutive year, as the fifth-largest wealth manager in the world by Scorpio Partnership’s Global Private Banking KPI Benchmark 2016, an annual survey of the global wealth management industry. The firm was also recognized in 2016 for 17 awards by the Euromoney Private Banking and Wealth Management Survey, including “Best Private Banking Services Overall” in Canada for the ninth consecutive year.

About RBC Wealth Management
RBC Wealth Management is one of the world’s top five largest wealth managers*. RBC Wealth Management directly serves affluent, high net worth and ultra-high net worth clients globally with a full suite of banking, investment, trust and other wealth management solutions, from our key operational hubs in Canada, the United States, the British Isles, and Asia. The business also provides asset management products and services directly and through RBC and third party distributors to institutional and individual clients, through its RBC Global Asset Management business (which includes BlueBay Asset Management). RBC Wealth Management has more thanC$766 billion of assets under administration, more than C$559 billion of assets under management and 4,716 financial consultants, advisors, private bankers, and trust officers. For more information, please visit www.rbcwealthmanagement.com.

*Scorpio Partnership Global Private Banking KPI Benchmark 2016. In the United States, securities are offered through RBC Wealth Management, a division of RBC Capital Markets, LLC, a wholly owned subsidiary of Royal Bank of Canada. Member NYSE/FINRA/SIPC.

ABOUT RBC
Royal Bank of Canada is Canada’s largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America’s leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. We have over 80,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices inCanada, the U.S. and 36 other countries. For more information, please visit rbc.com.‎

RBC helps communities prosper, supporting a broad range of community initiatives through donations, community investments, sponsorships and employee volunteer activities. In 2015, we contributed more than $121 million to causes around the world.

SOURCE RBC Wealth Management

A.M. Best affirms “A- (Excellent)” rating for Economical Insurance

WATERLOO, ON, Oct. 24, 2016 /CNW/ – A.M. Best affirmed on October 21, 2016 the financial strength rating of A- (Excellent) and issuer credit ratings of a- for Economical Mutual Insurance Company and its wholly owned subsidiary, Waterloo Insurance Company.  The outlook for all ratings is stable.

“This is the fourth consecutive year that A.M. Best has recognized our excellent financial strength and strong operating performance,” said Karen Gavan, president and chief executive officer of Economical Insurance. “This rating reinforces the confidence of our customers and broker partners that we will be there when they need us most.”

In its rating announcement, A.M. Best continues to acknowledge Economical’s disciplined underwriting philosophy and pricing segmentation, solid risk-adjusted capitalization, historically positive operating performance, diversified product offerings, focused marketing and branding strategies, and established national market presence in Canada. A.M. Best also recognized that Economical has broadened its distribution with the introduction of Sonnet, its direct-to-consumer channel.

For more information about A.M. Best’s ratings, visit www.ambest.com.

About Economical Insurance
Founded in 1871, Economical is one of Canada’s leading property and casualty insurers, with$2.0 billion in premiums during 2015 and $5.4 billion in assets as at June 30, 2016. Based inWaterloo, this Canadian-owned and operated company services the insurance needs of more than one million customers across the country. Economical conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Sonnet, Economical Financial, and Family Insurance Solutions.

SOURCE Economical Insurance

Archway Insurance Grows Business with purchase of H.S. Terris Insurance

Springhill, NS – Archway Insurance, one of Atlantic Canada’s fastest growing insurance brokerages, is pleased to announce the purchase of H.S. Terris Insurancein Springhill, effective November 1, 2016.

“Archway moved into the community about a year and half ago establishing an office under the management of well known local broker Ed Pettigrew,” says Archway Insurance President Michael Stack.

“We’ve seen great support from the local community since that time. It made sense to combine our office with Terris to better serve Springhill and area from one location, known as Archway Insurance – Cumberland. The employees of Terris have done a wonderful job caring for clients over the years and we’re pleased to welcome them to Archway.”

Although ownershipwill change hands, there will be no disruption or changes to policies for clients currently insured with H.S. Terris. The current location will be closing and renovations are underway to move employees over to the Archway Insurance – Cumberland office at 64 Main Street.

“Terris customers will continue to be serviced by an independently owned, local insurance brokerage,” says Archway Insurance – Cumberland Manager Ed Pettigrew. “Archway provides access to a wide selection of rates and services with the professional team and expertise to meet all our clients’ insurance needs be those personal, commercial, life or travel.”

The acquisition of Terris brings the total number of Archway locations to eleven – spanning the distance from Yarmouth, NS to Miramichi, NB.  Over the past decade, Archway has purchased dozens of brokerages across Nova Scotia and New Brunswick, quietly amassing a substantial presence and market share. The deal with Terriswas strategic, confirming Archway’s stronghold in Cumberland County, where its head office is located.

Archway Insurance is an Atlantic-owned, independent insurance brokerage, and one of the largest in the region. Headquartered in Amherst, NS, it is a growing, progressive company with eleven conveniently located offices. In 2013, Archway Insurance received CAFE’sNational Family Enterprise of the Year Achievement Award.
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About Us
At Archway Insurance, we believe in choice. And that one-size fits-all fits no one. Which is why we only offer coverage that’s completely customized for your unique needs. So you always get the insurance products and package you need for your life, your family, your business. Give us a call or stop by to chat – we’re proud to serve you in your own Maritime community.

Media Inquiries
Michael Stack
President Archway Insurance
Phone: 902-667-0800, ext. 2009
Michael@archwayinsurance.ca

Ed Pettigrew
Manager Archway Insurance – Cumberland
Phone: 902-763-2277
ed@archwayinsurance.ca

Esurance Introduces Homeowners Insurance in Alberta

Press Release:

Esurance, the online direct-to-consumer insurance company, today announced it is now offering homeowners insurance in Alberta, making it the first province where homeowners insurance is available from Esurance.

As part of the Allstate Canada family, customers choosing Esurance are protected with a policy that’s backed by Allstate. The Esurance homeowners policy offers Albertans comprehensive protection as well as water backup and additional living expense coverage to safeguard their homes, cover their belongings and protect their personal liability.

“We understand a person’s home is their ultimate safe haven. It’s a source of pride and enjoyment that they want to protect from both those unexpected accidents and certain risks that come with homeownership,” said Saskia Matheson, general manager at Esurance Canada. “That’s why we created an intuitive online experience that lets homeowners design and purchase a unique, customized policy. It’s affordable protection at a price that’s right for them.”

Esurance’s modern approach to insurance offers Albertans an easy-to-understand, online experience to help them get the right level of protection for their individual needs. With helpful tips and graphics, Esurance.ca offers built-in guidance to help customers understand different coverage options and discounts. As Albertans adjust their coverage levels, they can instantly see how those changes affect their quote. Once they purchase a policy customers can access their policy through the 24/7 website, or call and talk to a knowledgeable expert.

Esurance homeowners insurance offers more than 10 ways to save with discounts, including its Home Safety Features discount, which rewards customers with savings when they own safety devices such as burglar alarms and smoke detectors. Esurance also promotes its Welcome Home discount, showing new customers appreciation by offering a discount when signing up with Esurance.

Esurance’s DIY Inspection app is the industry’s first online home inspection tool. The app enables customers to self-inspect their homes to receive a policy discount.

“The DIY Home Inspection app is just one example of how we strive to leverage technology to better serve and empower our customers,” said Matheson. “The app allows customers to complete their home inspection at a time that’s convenient for them.”

Bundling with auto insurance
Esurance auto insurance is also available in Alberta, offering a modern and convenient approach for its customers. Bundling options for homeowners and auto insurance coverage are available for new and existing customers to add more savings to customers’ insurance coverage. Esurance offers a Multi-Policy discount, qualifying customers who already have an insurance policy with Esurance to earn a discount on all of their policies.

Customizable coverage options
Esurance’s homeowners insurance offers a wide range of coverage options to suit its customers’ unique needs. Standard coverage options are available, including personal property protection, family liability protection, and guaranteed replacement cost for your home, which ensures customers have the necessary funds to rebuild their home in the event it’s destroyed. Customers can choose the right coverage for their situation and budget. And, there are different packages available based on a customer’s specific need, such as roof surfaces protection, which covers the partial or full cost of a roof replacement due to severe weather damage from hail or windstorm storms.

“Looking to the year ahead, we hope to further expand our product availability to other provinces, offering cost-saving options on home and auto insurance policies for more Canadians,” said Matheson.

For more information about Esurance Canada, please visit www.esurance.ca.

About Esurance®
Esurance provides auto insurance direct to Canadian consumers and offers multiple insurance products in the U.S. including auto, homeowners, motorcycle, and renters. Esurance was a pioneer in offering insurance online in the U.S. in 1999. With an award-winning website and innovative tools, Esurance is the smart choice for tech-savvy consumers in Canada and the U.S. As a member of the Allstate family, Esurance is a reliable choice for insurance, offering anytime, anywhere service just a click, call, or tap away. For more information, visit www.esurance.ca or call 1-888-ESURANCE (1-888-378-7262).

SOURCE Esurance

The Co-operators announces support for mutual microinsurance strategy in India

The Co-operators announced its contribution to the International Cooperative and Mutual Insurance Federation’s (ICMIF) 5-5-5 Mutual Microinsurance Strategy, which will guide the development of mutual microinsurance programs in five emerging markets, reaching out to five million new households over a five-year period. The Co-operators will provide USD $100,000 per year as well as significant technical assistance to help Uplift Mutuals bring health care insurance to two large cities in India, Mumbai and Pune.

Uplift Mutuals is an ICMIF member that seeks to support low-income Indian families through the provision of affordable health insurance and preventive health resources. With the financial and technical assistance from The Co-operators, a new mutual microinsurance product will be developed and introduced in Mumbai and Pune, where large low-income populations have very limited access to quality health care.

“The co-operative and mutual sector is committed to improving the lives of millions of low-income households in the developing world, and we are proud to contribute to this mission through our involvement in the 5-5-5 initiative,” said Kathy Bardswick, president and CEO of The Co-operators. “Development of the mutual microinsurance market in the five countries identified will have an enormous impact on the health, wellness and financial security of a great number of individuals and families.”

In addition to its financial contribution, The Co-operators will provide a range of in-kind staff support to help Uplift Mutuals provide health insurance coverage to uninsured low-income households in Mumbai and Pune.

About The Co-operators:
The Co-operators Group Ltd. is a Canadian co-operative with more than $44 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers in Canada by Aon Hewitt; Corporate Knights’ Best 50 Corporate Citizens in Canada; and the Top 50 Socially Responsible Corporations in Canada by Sustainalytics and Maclean’s magazine. For more information, visit www.cooperators.ca.

SOURCE The Co-operators

Stroz Friedberg bolsters integrated approach to cyber risk, expands world-class leadership team

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