Rowan Saunders, president and CEO of
RSA Canada, is making a jump to the top spot at
Economical Insurance, effective November 1.
Saunders has served as RSA chief since 2013, and will succeed outgoing Economical CEO, president and director Karen Gavan as she retires on December 31.
"I am proud to have worked at RSA and with my team built a market leading Canadian insurer with an excellent track record,” stated Saunders. “I leave the business with high confidence in its future and I am excited to take up my new role at Economical which is truly a unique opportunity. I wish Martin, my colleagues and RSA continued success."
He adds,“I am very pleased to join Economical at such a critical moment in its evolution. There are so many exciting things underway and I am honoured to have the opportunity to join a high-performing leadership team to build on the success they’ve achieved during the last few years.”
Saunders will be replaced by Martin Thompson, currently SVP Commercial Insurance & Global Specialty Lines, who will become president and acting CEO of RSA Canada effective today. In these capacities Martin will join the Board of RSA Canada and the Executive Committee of RSA Group reporting to its CEO Stephen Hester.
Stated Hester, "Rowan has been an outstanding leader for RSA, serving the firm in Canada for 29 years, 13 as CEO. He leaves with our sincere thanks and good wishes. I am delighted that in Martin we have fine succession,” adding that the insurance company is “in good shape to continue to build the strong and successful business we have in Canada."
In his new role, Saunders will be tasked with advancing Economical’s strategic initiatives, including leading the nation’s first P&C demutualization, transition to becoming a publicly traded company, as well as expanding Sonnet, Economical’s new digital direct channel.
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