WATERLOO, ON , May 16, 2014 /CNW/ - Economical Insurance today announced that its 142nd Annual General Meeting (AGM) will be held at 10:30 a.m. , Tuesday, June 24, 2014 , in the Bingemans Ballroom at 425 Bingemans Centre Drive in Kitchener. The company's 2014 management proxy circular has been mailed to mutual policyholders, along with its annual report for 2013.
Attendance at this AGM is by invitation only.
During this AGM, mutual policyholders will hear from management, receive the financial statements for the year ended December 31, 2013 , and vote on the appointment of the external auditor and the election of directors.
As previously reported, Economical is waiting for regulations from the federal Department of Finance that are required in order to proceed with the company's previously announced demutualization process. Accordingly, there will not be a vote by mutual policyholders on a demutualization proposal at the June 24 AGM.
About Economical Insurance
Founded in 1871, Economical Insurance is one of Canada's leading property and casualty insurers, with $1.9 billion in annual premium volume and $5.0 billion in assets as at March 31, 2014 . Based in Waterloo , this Canadian-owned and operated group services the insurance needs of more than one million customers across the country. In 2010, Economical announced its decision to become the first federally-regulated mutual property and casualty insurance company to pursue demutualization. Economical Insurance conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Family Insurance Solutions, Federation Insurance and Economical Financial.
SOURCE Economical Insurance
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