Patrick Ballantyne, chief executive officer of the Registered Insurance Brokers of Ontario (RIBO), will step down on June 30, 2025, after more than two decades with the organization.
Outgoing RIBO council president Rick Orr made the announcement at the organization’s Annual General Meeting. The RIBO Council has begun the process of selecting Ballantyne’s successor. Details about the CEO position will be shared through RIBO’s official channels.
Ballantyne served as CEO for nine years, following 11 years as RIBO’s General Counsel. Reflecting on his tenure, he said, “I am grateful to the team we have assembled and to the numerous members of RIBO Councils I have had the privilege of working with over the years. They have challenged me to continuously innovate and elevate RIBO as a self-regulatory organization that protects the Ontario public.”
During Ballantyne’s time as CEO, RIBO introduced several structural and operational changes, including the transition from paper-based systems to online services and the implementation of a licensee portal. The quality assurance program was expanded to include a risk-based approach, and the organization underwent a governance overhaul.
Ballantyne also guided RIBO through the challenges of the COVID-19 pandemic and advocated for the regulation of property and casualty managing general agents (P&C MGAs) in Ontario to strengthen oversight and consumer protection, according to a news release.
RIBO’s council president Thomas Watson commended Ballantyne for his leadership and contributions. “Patrick has been a true catalyst in driving RIBO to modernize and enhance consumer protection, adapting to evolving consumer needs and technological advancements. His unwavering commitment and leadership have had a profound impact,” said Watson.
“Patrick’s contributions have set a high standard, and it will be a difficult task to fill the void he leaves behind. However, he leaves RIBO well-positioned to continue fulfilling its mandate in a rapidly changing world. He will be missed, both professionally and personally, by all who have had the privilege of working with him.”
The Registered Insurance Brokers of Ontario (RIBO) is the province’s regulatory body for general insurance brokers. Established in 1981, RIBO oversees the licensing, professional competence, ethical conduct, and financial obligations of over 21,000 insurance brokers in Ontario.
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