The Royal & SunAlliance Canada Group, of Toronto, today announced today the completion of the acquisition of Canadian Northern Shield Insurance Co. from The CUMIS Group Ltd., strengthening Royal & SunAlliance’s broker business in British Columbia.
Effective January 1, Ken Keenan has been appointed president of Vancouver-based Canadian Northern Shield, the market leading intermediated insurer in B.C. with annual premiums of approximately $164 million in 2006. Most recently, Keenan was director of sales and marketing at Royal & SunAlliance in Ireland.
Rowan Saunders, president & CEO of Royal & SunAlliance, says, “This acquisition further demonstrates our commitment as a company to the long-term growth and sustainability of the broker channel in Canada. I have great confidence in Ken and the Canadian Northern Shield team and look forward to working closely with our broker partners to provide trusted advice and customer service focused insurance products to consumers and businesses in B.C.”
“I’m pleased to join Canadian Northern Shield and relocate to British Columbia,” says Keenan. “This is an exciting new chapter for Royal & SunAlliance and Canadian Northern Shield and I look forward to leading this business and working closely with all of the employees and broker partners across the province.”
Canadian Northern Shield, which offers a full range of products including personal property, commercial and private automobile, is represented by more than 200 brokers servicing customers across B.C.
Royal & SunAlliance received regulatory approval from the Competition Bureau and the Office of the Superintendent of Financial Institutions in mid December 2007.
The Royal & SunAlliance Canada group employs approximately 2,500 people and is represented by a large network of insurance brokers across the country. Internationally, Royal & Sun Alliance Insurance Group plc employs about 24,000 people and transacts business in more than 130 countries with assets of approximately $40 billion.