Karen Gavan, president and chief executive officer of Economical Insurance, is pleased to announce the appointment of Elaine Lajeunesse as senior vice-president and chief risk officer (CRO) effective January 25, 2016. Ms. Lajeunesse has more than 25 years of experience as a risk management professional and actuary in the Canadian insurance industry.

As CRO, Ms. Lajeunesse will report directly to Economical’s president and chief executive officer and serve on the executive committee. She will chair the management risk committee and provide day-to-day leadership to the enterprise risk management function, assuming accountability for developing and directing comprehensive processes for identifying, monitoring, and reducing risks that could impede the achievement of Economical’s objectives and goals.

Ms. Lajeunesse brings to her new role a deep understanding of insurance operations. Prior to joining Economical, Elaine was vice-president and chief risk officer, insurance, at BMO Financial Group. She also held executive leadership roles in actuarial services at Markel Insurance Company of Canada and at XL Reinsurance.

She earned a bachelor of actuarial science from Laval University, and holds a Certified Financial Analyst designation. She is also a Fellow of the Canadian Institute of Actuaries and a Fellow of the Casualty Actuarial Society.

About Economical Insurance

Founded in 1871, Economical Insurance is one of Canada’s leading property and casualty insurers, with approximately $2.0 billion in annualized premium volume and $5.3 billion in assets as at September 30, 2015. Based in Waterloo, this Canadian-owned and operated company services the insurance needs of more than one million customers across the country. Economical Insurance conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Family Insurance Solutions, Federation Insurance and Economical Financial.

SOURCE Economical Insurance

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