“Our financial strength ensures we are able to meet the needs of our clients and members as well as continue to serve and support our communities.”
Those were the words of Co‑operators chief financial officer Karen Higgins (pictured) during the co-operative’s annual general meeting (AGM) in Calgary last week. The three-day event gathered 96 delegates who represented 46 member organizations across Canada.
Higgins told attendees: “We are able to operate through times of economic and inflationary volatility; are able to withstand the continued growing impact of climate change; and withstand short-term increases in claims trends that we are currently seeing.
“We continue to have a very strong balance sheet and capital position to support our long-term strategic priorities.”
Meanwhile, the AGM saw the re-election of board directors Christie Stephenson, Jennifer Uhren, Mike Csversko, Pierre Dorval, Chris Johnson, Nicole Waldon, and Robert Moreau, as well as the addition of new director François Hastir.
Rob Wesseling, president and chief executive of Co‑operators, said, “By design, co‑operatives are really good at bringing people together. Our collective ability to influence change is reflected through our shared identity.
“Co‑operators and its members are pulling in the same direction for the same reasons. This is, and always will be, core to our business. It anchors who we are as organizations. It anchors the decisions we make. And it pushes us to go further, creating positive change.”
Separately, the Co-operators General Insurance Company (Co-operators General) board announced a quarterly dividend of $0.3125 per non-cumulative redeemable Class E preference shares, Series C, payable June 30.
The dividend relates to shareholders of record at the close of business on June 1 this year. Co-operators General Class E, Series C preference shares trade on the Toronto Stock Exchange under ticker symbol CCS.PR.C.
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