The Canadian Life and Health Insurance Association Inc. reports that Peter McCarthy, president and CEO of AIG Life Insurance Company of Canada, has been elected chairman of the organization for the year ahead.

McCarthy, who also serves as managing director and CEO of AIG Assurance Canada, has been a member of the CLHIA board for four years. McCarthy has served as chairman elect (2006-2007), as chair of the board’s Standing Committee on Standards and Marketplace Relations (2004-2006) and Standing Committee on Government Relations (2006-2007), and as a member of the Standing Committee on Resources (2006-2007).

He began his insurance career in the Halifax head office of Maritime Life in 1986 where he worked in a number of capacities in administration, management and sales management throughout all lines of business including employee benefits, segregated funds and individual life insurance. He has also worked as an independent insurance broker. He joined AIG Life of Canada in 1999 as national sales director he was appointed president and CEO in February 2000.

“I am pleased and honoured to serve the industry over the months ahead, and I am looking forward to the opportunity to working together with so many respected and experienced colleagues in continuing the fine tradition of consensus building and constructive dialogue with regulators and policy-makers as the Association enters its 113th year in operation,” said McCarthy, in a release.

During his term in office, McCarthy will be working with a board including new chairman elect, Pierre-Yves Julien, president and CEO, Medavie Blue Cross, and two past chairmen, James Brierley, president, Munich Reinsurance Company, Canada Branch (Life) and Yvon Charest, president and CEO, Industrial Alliance Insurance and Financial Services Inc.

The remaining directors are:

  • Ronald Beettam, president and CEO, The Equitable Life Insurance Company of Canada;
  • Richard Bell, CEO SSQ Financial Group;
  • Alain Brunet, president and CEO, National Bank Life Insurance Company;
  • Dominic D’Alessandro, president and CEO, Manulife Financial;
  • Denis Devos, president and COO, Canada, The Great-West Life Assurance Company/London Life Insurance Company/The Canada Life Assurance Company;
  • Gordon Henderson, president and CEP, BMO Life Insurance Company;
  • Dieter Kays, president and CEO, FaithLife Financial; and
  • Paul Reaburn, president and CEO, Transamerica Life Canada (AEGON Canada Inc.).

Established in 1894, CLHIA represents companies that together account for over 99% of Canada’s life and health insurance business.