The decreasing trading performance of Zurich's General Insurance business has caused Zurich to terminate offer discussions with RSA. Zurich's due diligence findings on RSA met Zurich's expectations and did not contain any data that would have caused Zurich to withdraw their offer.
Showing posts with label RSA. Show all posts
Showing posts with label RSA. Show all posts
21 September 2015
Zurich/RSA Offer Comes to a Conclusion!
On July 28th 2015, Zurich, a global financial services company, openly considered purchasing the RSA Insurance Group. RSA owns Pets Plus Us, a new and unique pet insurance provider for pet owners in Canada.
The decreasing trading performance of Zurich's General Insurance business has caused Zurich to terminate offer discussions with RSA. Zurich's due diligence findings on RSA met Zurich's expectations and did not contain any data that would have caused Zurich to withdraw their offer.
The decreasing trading performance of Zurich's General Insurance business has caused Zurich to terminate offer discussions with RSA. Zurich's due diligence findings on RSA met Zurich's expectations and did not contain any data that would have caused Zurich to withdraw their offer.
11 August 2015
Zurich Reports USD 2.2 Billion Operating Profit
Despite a two plus billion business operating profit, Zurich CEO Martin Senn suggests the company cannot be satisfied with current results. He says the plan to improve results will begin to achieve performance targets early next year. In the video, Senn also says he sees RSA as a complimentary business, but remarks that any new investment whether internal or external will be required to achieve a 10% return on capital - the goal Zurich set last year. If investments are unable to achieve the 10% Return on Investment (ROI) Zurich will prefer returning capital to their investors.
RSA Group is the owner of RSA Canada and Pets Plus Us the Canadian supplier of health insurance for pets.
Watch the video
Read the Report
30 July 2015
Zurich Considers Purchase of RSA Insurance Group
InfoStream is keeping a watchful eye on a developing story from Europe. Zurich a global financial services company, may be considering the purchase of RSA Insurance Group.
RSA Group owns Pets Plus Us, an emerging provider of pet health insurance and services for pet owners in Canada.
Zurich - Zurich evaluates a potential offer for RSA Insurance Group plc
Zurich - Statement regarding RSA Insurance Group plc
RSA - Board notes Zurich announcement
RSA Group owns Pets Plus Us, an emerging provider of pet health insurance and services for pet owners in Canada.
Zurich - Zurich evaluates a potential offer for RSA Insurance Group plc
Zurich - Statement regarding RSA Insurance Group plc
RSA - Board notes Zurich announcement
24 April 2015
Pets Plus Us Sponsors the 2015 Summit Awards for Urban Animal
Calgary, Alberta - PetLynx Corporation is pleased to announce Pets Plus Us, a division of Royal Sun Alliance (RSA), the world's leading provider of general insurance, is the sponsor of the 2015 Summit Awards program.
Pets Plus Us "Top Dog" Randy Valpy, has been an Urban Animal sponsor and supporter since 2006 when PetLynx hosted the first Summit for Urban Animal Strategies in Banff, Canada. As Presenting Sponsor in 2014, Pets Plus Us co-hosted the Summit Awards Gala as well as receptions each Regional Conferences.
"As a founding Alumni of the Urban Animal™ program I have been the beneficiary of new ideas, thought provoking conversations, networking opportunities and relationships that have moved the industry as well as the businesses I lead," said Valpy. "The Urban Animal™ program has truly changed our industry in very positive ways."
The Summit Awards have been an element of the Urban Animal program since its inception in 2006. Summits illuminate the achievements of those who toil in the trenches of the industry using an academy style system of nominations, elimination rounds and the automated casting of secret ballots in each category. Nominees for the Summits include individuals and organizations active in the Urban Animal industry.
"Pets Plus Us has a unique approach to serving pet owners and policy holders," said Larry R. Evans, Managing Director of PetLynx Corporation and Executive Producer of the Urban Animal program. "The Urban Animal mission to enrich the lives of people and pets has been embraced by Randy Valpy and the Pets Plus Us team. Their sponsorship of the Summit Awards program is further evidence of their commitment to the industry and the clients they serve."
As sponsor of this program element, the Pets Plus Us brand will be presented throughout the year and highlighted during the Summit for Urban Animal Strategies at the Friday evening gala with each Summit Award presentation.
Pets Plus Us "Top Dog" Randy Valpy, has been an Urban Animal sponsor and supporter since 2006 when PetLynx hosted the first Summit for Urban Animal Strategies in Banff, Canada. As Presenting Sponsor in 2014, Pets Plus Us co-hosted the Summit Awards Gala as well as receptions each Regional Conferences.
"As a founding Alumni of the Urban Animal™ program I have been the beneficiary of new ideas, thought provoking conversations, networking opportunities and relationships that have moved the industry as well as the businesses I lead," said Valpy. "The Urban Animal™ program has truly changed our industry in very positive ways."
The Summit Awards have been an element of the Urban Animal program since its inception in 2006. Summits illuminate the achievements of those who toil in the trenches of the industry using an academy style system of nominations, elimination rounds and the automated casting of secret ballots in each category. Nominees for the Summits include individuals and organizations active in the Urban Animal industry.
"Pets Plus Us has a unique approach to serving pet owners and policy holders," said Larry R. Evans, Managing Director of PetLynx Corporation and Executive Producer of the Urban Animal program. "The Urban Animal mission to enrich the lives of people and pets has been embraced by Randy Valpy and the Pets Plus Us team. Their sponsorship of the Summit Awards program is further evidence of their commitment to the industry and the clients they serve."
As sponsor of this program element, the Pets Plus Us brand will be presented throughout the year and highlighted during the Summit for Urban Animal Strategies at the Friday evening gala with each Summit Award presentation.
About Pets Plus Us:
Headquartered in Oakville, Ontario, Pets Plus Us is the Champion of Pet Owner Happiness. Their carefully researched business model enhances the pet experience. Pets Plus Us re-imagined pet insurance and introduced Canada’s first wellness-only plan. The dynamic community created by Pets Plus Us empowers pet families as they make mindful choices for the wellbeing of their pets. Pets Plus Us insurance products are underwritten by the powerful RSA Group.
Headquartered in Oakville, Ontario, Pets Plus Us is the Champion of Pet Owner Happiness. Their carefully researched business model enhances the pet experience. Pets Plus Us re-imagined pet insurance and introduced Canada’s first wellness-only plan. The dynamic community created by Pets Plus Us empowers pet families as they make mindful choices for the wellbeing of their pets. Pets Plus Us insurance products are underwritten by the powerful RSA Group.
FOR SPONSORSHIP OR URBAN ANIMAL OPPORTUNITIES, PLEASE CONTACT:
Shannon Woodward, Program Manager, (p) 403.208.1972, (e) shannon.woodward@petlynxmail.com
Larry R. Evans, Executive Producer, (p) 403.921.5900, (e) larry.evans@petlynxmail.com
27 September 2013
Which Product or Service Innovation will win the 2013 Summit
Four finalists vie for the Urban Animal Industry's highest award in the category of Product or Service Innovation:
- WOOF - Nova Scotia Department of Justice (Angela Poirier) is nominated for a program which pairs dogs and offenders for social and behavioral development that provides a mutual benefit.
- Champion of Pet Owner Happiness - Pets Plus Us, RSA (Randy Valpy) is nominated for a program that recasts the way pet insurers, veterinarians and pet owners work together to achieve affordable health care.
- Affinities Renewable - Nova Scotia SPCA (Kristin Williams) is nominated for a program that delivers renewable energy and as well as a sustainable source of funding for NSSPCA community services.
- Poooh Busters is nominated for a program that delivers a novel waste removal and responsible waste handling business.
The Summit for Product or Service Innovation recognizes an innovative product or service that improves the quality of life for people and pets in homes, in communities or industry sector(s).
The 2013 Summit for Product or Service Innovation will be presented during the Awards Gala on Friday, 18 October 2013. This event is open to the public.
The 2013 Summit for Product or Service Innovation will be presented during the Awards Gala on Friday, 18 October 2013. This event is open to the public.
07 August 2013
RSA Canada reports strong growth at half year
Royal Sun Alliance (Pets Plus Us) reported another strong financial result with 15% growth in net written premiums to $1,360 million compared to $1,181 million in the first half of 2012.
Commercial lines premiums were up 14% to $468 million with all lines of business contributing. Excluding the acquisition of UC, the Commercial portfolio grew 5% with particularly strong results within Global Specialty Lines.
Personal lines premiums, including Johnson Inc. were up 16% to $892 million, driven by the benefits of the acquisition of UC. Growth was 5% excluding UC, with a strong contribution from the Broker business, particularly in British Columbia and improved retention across the book.
The underwriting result of $23 million was inevitably impacted by severe weather, namely late June's flooding in Southern Alberta, which is exected to be one of the largest natural catastrophes in Canadian history. Gross claims in respect of this event are above reinsurance retentions, leading to a maximum net loss of $75 million. As a result, the COR was 98.7%. Excluding the impact of the Alberta floods, the COR was 93.3%.
Commercial lines premiums were up 14% to $468 million with all lines of business contributing. Excluding the acquisition of UC, the Commercial portfolio grew 5% with particularly strong results within Global Specialty Lines.
Personal lines premiums, including Johnson Inc. were up 16% to $892 million, driven by the benefits of the acquisition of UC. Growth was 5% excluding UC, with a strong contribution from the Broker business, particularly in British Columbia and improved retention across the book.
The underwriting result of $23 million was inevitably impacted by severe weather, namely late June's flooding in Southern Alberta, which is exected to be one of the largest natural catastrophes in Canadian history. Gross claims in respect of this event are above reinsurance retentions, leading to a maximum net loss of $75 million. As a result, the COR was 98.7%. Excluding the impact of the Alberta floods, the COR was 93.3%.
27 June 2013
Pets Plus Us Parent Donates $100,000 to Alberta Flood Victims
RSA Canada the parent company of Pets Plus Us has made a substantial donation to assist the victims of Alberta's floods. In addition to the $100,000 donated to the Canadian Red Cross yesterday, RSA has announced it will match donations from RSA employees across Canada to top up contributions to relief agencies.
"We understand the devastation caused by severe weather events and our hearts go out to those affected," says RSA President & CEO Rowan Saunders. "We have employees, customers, brokers and friends in Alberta who have been impacted by the flooding and our focus is on providing our affected customers with the help and support they need as quickly as possible. We know that clean-up and rebuild will be a long process but people need help now and we hope this donation will help to provide some immediate relief."
These contributions to disaster relief are in addition to donations for local humane and rescue organizations by Pets Plus Us and the Urban Animal program which provides automated recovery services at no charge for the next 30 days. Earlier today the High River Emergency Ops Centre indicated 500 dogs and cats had already been rescued from affected homes.
About RSA
With a 300 year heritage, RSA is one of the world's leading multinational quoted insurance groups. RSA has major operations in the UK, Scandinavia, Canada, Ireland, Asia and the Middle East, Latin America and Central and EasternEurope and has the capability to write business in around 150 countries. Focusing on general insurance, RSA has around 23,000 employees and, in 2012, its net written premiums were £8.4 billion.
With a 300 year heritage, RSA is one of the world's leading multinational quoted insurance groups. RSA has major operations in the UK, Scandinavia, Canada, Ireland, Asia and the Middle East, Latin America and Central and EasternEurope and has the capability to write business in around 150 countries. Focusing on general insurance, RSA has around 23,000 employees and, in 2012, its net written premiums were £8.4 billion.
About RSA Canada
RSACanada employs approximately 4,200 people and is represented by a large network of brokers across the country. In 2012, the Canadian Group wrote $2.8bn in direct premiums with assets exceeding $7.6 billion. RSA is a trade name of Royal & Sun Alliance Insurance Company of Canada. "RSA" and the RSA logo are trademarks used under license from RSA Insurance Group plc.
RSACanada employs approximately 4,200 people and is represented by a large network of brokers across the country. In 2012, the Canadian Group wrote $2.8bn in direct premiums with assets exceeding $7.6 billion. RSA is a trade name of Royal & Sun Alliance Insurance Company of Canada. "RSA" and the RSA logo are trademarks used under license from RSA Insurance Group plc.
15 March 2013
Pets Plus Us NOW ONLINE!
Royal Sun Alliance's new pet health division kicked off online services earlier this week. Pets Plus Us celebrated its 'coming out' at the OVMA Convention in January and the industry has been anticipating the launch of service.
"Pets Plus Us has re-imagined pet health insurance and is focused on becoming a pet owner's 'best friend'," said Randy Valpy in an InfoSteam interview earlier this year.
Utilizing social media channels as well as relationships with other industry collaborators, the Pets Plus Us Community is providing pet owners with Air Miles™, resources, subscriptions, forums, blogs, a photo album and a lifelong conversation that will assist pet owners to make the best decision to ensure a positive pet experience.
23 January 2013
Interview - Randy Valpy, VP & Managing Director, Pets Plus Us
Randy
Valpy (RV) is one of Canada's best known industry leaders. Last year, Randy
accepted the challenge to create a new division of RSA (Royal and Sun Alliance).
Pets Plus Us is the newest entry into Canada’s pet health insurance
market. InfoStream caught up with Randy at the new headquarters for Pets
Plus Us, just west of Toronto.InfoStream (INFO): A year ago we visited with you just after you accepted this new position. So the first question should be; What have you discovered about Pet Health Insurance during the past year?
RV: Well, first of all, we conducted insight panels with vets, pet owners and other industry experts and we learned
there are many 'white spaces', that is, places where there is an opportunity
to add value to pet owners. Second, we discovered pet insurance isn't perceived as a positive
addition to most pet families because of deep seated negative
perceptions. Finally, the most important thing we learned was that an
increasing number of pet owners are proactive and responsible; They want to get
it 'right' but they don't always have the resources at their finger tips to
make the best decision.
INFO: Last year we noted that pet insurance in
Canada had a market penetration of about 1% which translates into health coverage for
around 150,000 pets. This performance seems somewhat dismal for an
industry that has been working at it for more than 20 years. What kind of
negative perceptions did you uncover?
RV: Pet families are
skeptical about health insurance for their pets. They hear a lot of 'no'; they
expect the 'fine print' to squash their coverage; they think underwriters stack
the deck against them; and, they find it hopeless when they aren't allowed to choose
from a list of treatments and coverage they might like to have.
Moreover, these perceptions often become their reality just when they
experience a pet crisis and need a helping hand.
INFO: Wow, no wonder pet owners feel
negative. But how do you think you can turn these perceptions
around when you have profits, low loss ratios and financial performance to achieve?
RV: Sorting this out required market
research, lots of listening and a substantial investment in modeling what we had discovered. In the end, the solution turned out to be simple. We need to focus
on supporting the pet owner, becoming their ‘best friend’, the ‘house of yes’,
the place they turn when difficulties are encountered and the community with
whom they celebrate the wonderful things they enjoy about their pet.
INFO: When we listen to you, we hear your excitement and we wonder if this is
something that can power–up an industry which has not often been ‘pet owner
centric’. Can you elaborate on the essential elements?
RV: We call these elements ‘instincts’ and we expect them to guide our
day-to-day activities:
- We want to be people lovers and pet lovers – happy pet owners mean happy pets and vice versa.
- We want to be excited when we encounter challenges and ask, ‘What would Rin Tin Tin Do’?
- Like ‘service animals’ we live to serve the community of pet owners.
- We believe in the ‘Power of the Pride’ – it’s not about me, it’s about we, it’s about us, it’s about them.
- We want to keep it ‘Wild’ because we know that innovation can drive the industry and fuel our growth.
RV: One of the things you can observe
in great companies is a kind of corporate DNA, ‘the genetic propensity to
behave in a certain manner’. RSA is more
than 300 years old and is committed to keeping people moving forward. The way I have described
our instincts is fresh and new, but you can see the company has maintained many
of these traits over a long and very rich heritage. RSA reaches beyond itself
to illuminate global situations from Polar Bears to Rain-forests and even provides emergency response capabilities to flood victims. At RSA, our reputation, our purpose and our
beliefs will attract like minded people. The Pets Plus Us environment will nurture
and celebrate ‘Best in Show’ elements that deliver positive impact while eliminating
the ‘Pet Peeves’ that become barriers to success for us, the
pet owner and the industry.
INFO: Randy, your literature shows you
are ‘on a crusade to champion pet owner happiness’. Why would you take on
moving the industry toward this goal and
how do you think it can be accomplished?
RV: The why is easy. Every insured pet, regardless of who insures it, is a
safe pet. The day always seems to come, when the pet needs insurance and that is the day pet owners are happy they had foresight to purchase insurance. The how is a bit more
complicated, but it’s not hard. For 11 years I have encouraged and supported
those who say that we need to work collaboratively to achieve pet owner
happiness. As a founding member of NAPHIA, I worked
with other members to bring the North American insurance industry
into alignment. I
also helped found the Summit program which gathers up like minded collaborators
across North America to create healthy communities for pets and people. Pets
Plus Us will intensify and strengthen this crusade for Pet Owner Happiness.
INFO: So what's next?
RV: Over the next few days, the OVMA convention will serve as our ‘coming out party’ and give us a chance to introduce the Pets Plus Us brand to
the industry. Sometime in mid-February, we will introduce a full complement of
accident and illness coverage. Later we will introduce new wellness products that
allow veterinarians to establish conversations and services with pet owners who
desire a program of regular visits to provide a better quality of
life for each pet. However, I am most excited about the new Pets Plus Us Pet
Owner Community that provides pet owners with Air Miles™, resources,
subscriptions, forums, blogs, a photo album and support for conversations with
other pet owners.
INFO: Congratulations Randy! Pets Plus Us
has intriguing components that are good for the pet, good for the
pet owner and good for the pet industry. Tell us what you believe success will look like?
RV: Our ambition is to be the
fastest growing Pet Insurance Company by 2015 and that won’t be the end, but it
may be the end of the beginning!
INFO: Thanks for investing time to
update the industry!
17 December 2012
Edmonton Humane Society receives 2012 Summit for Community Compliance
Earlier this year, the Edmonton Humane Society (EHS) joined forces with Waterloo Ford Lincoln to pioneer a public awareness campaign aimed at keeping dogs out of cars in the hot summer months. For this unique partnership, the EHS was presented with its 2012 Summit for Community Compliance 12 December 2012.
Sponsored by Royal Sun Alliance (RSA), the Summit for Community Compliance rewards organizations that make efforts to increase the overall level of compliance in a community using a broad definition of responsibility, related best practices, standards and national codes of conduct.
The EHS and Waterloo Ford Lincoln are taking this opportunity enter into the second phase of their "Pets in Vehicles" sticker campaign. Shoppers are being reminded about the dangers they put their pets in by leaving animals alone in vehicles during extreme cold weather.
"This award winning partnership is vital in order to help prevent tragedies," said EHS CEO Stephanie McDonald. "The EHS is delighted that the campaign has gained national recognition, thanks to so many responsible pet owners taking part over the past several months."
Waterloo Ford Lincoln sponsored the production of 100,000 window stickers to remind people about the dangers of leaving animals in vehicles any time of the year.
"The EHS went above and beyond to educate and bring awareness and compliance to pet owners and the community," said Lundy Prokopetz of Petsecure Pet Health Insurance, who nominated the EHS for the award. "Their effort, along with Waterloo Ford Lincoln, is saving lives year round."
Sponsored by Royal Sun Alliance (RSA), the Summit for Community Compliance rewards organizations that make efforts to increase the overall level of compliance in a community using a broad definition of responsibility, related best practices, standards and national codes of conduct.
 |
| Left to Right: Rick Brown, VP and GM of Waterloo Ford Lincoln; Shawna Randolph, EHS spokesperson; Officer Taylor, EHS Animal Protection Peace Officer; Lundy Prokopetz, Petsecure Pet Health Insurance |
"This award winning partnership is vital in order to help prevent tragedies," said EHS CEO Stephanie McDonald. "The EHS is delighted that the campaign has gained national recognition, thanks to so many responsible pet owners taking part over the past several months."
Waterloo Ford Lincoln sponsored the production of 100,000 window stickers to remind people about the dangers of leaving animals in vehicles any time of the year.
"The EHS went above and beyond to educate and bring awareness and compliance to pet owners and the community," said Lundy Prokopetz of Petsecure Pet Health Insurance, who nominated the EHS for the award. "Their effort, along with Waterloo Ford Lincoln, is saving lives year round."
12 September 2012
Summit entertainment lineup announced
There will be no shortage of crowd-pleasing entertainment at the 2012 International Summit for Urban Animal Strategies. Comedy. Musical enjoyment. And a post award ceremony surprise!
Entertaining delegates throughout the Welcome Reception, sponsored by Royal & Sun Alliance (RSA), is Canadian guitarist, Brad Mahon whose talents are recognized across the music industry.
Guests will be delighted by Jason that Funny Magic Guy during the reception and part of dinner at the Summit Awards Gala and Dinner, sponsored by IAMS and PetLynx Corporation.
Following the awards presentation at the gala, Summit delegates and guests will be treated to an entertainment surprise that will leave you begging for more...
Brad Mahon Bio: Mahon has appeared throughout Portugal, the United States, and across his native Canada, as an award winning and acclaimed guitarist, educator, and scholar. He enjoys a multi-faceted, professional career including working consistently and simultaneously for several universities and conservatories. As a guitarist and past prize-winner in the Pacific Northwest Guitar Competition, Brad has been described as “an outstanding classical guitarist” (20th Century Guitar, New York) and “a very accomplished performer” (CBC Radio, Canada), while his concert performances have been reviewed as “a delightful musical night and great spectacle for the audience” (Baiao Noticia, Portugal). Brad’s current artistic focus is recording, performing, and touring with the Oberon Guitar Trio—“a highly competent trio” (Classical Guitar magazine, UK); “three times the fun” (Castlegar News, BC)—as well as the East West Guitar Duo—“most impressive” (Brantford Expositor, Ontario); “entertaining” (Comox Valley Record, BC). His diverse recording portfolio—comprising commercial CD releases as well as made-for-radio broadcasts—includes the solo efforts, Six Strings (2005) and Classic Melodies (2006), as well as, Music of Our Time with the Oberon Guitar Trio (2010). A frequent collaborative artist, he has also appeared in concert with the Calgary Civic Symphony and Red Deer Symphony Orchestra. Brad’s formal education is highlighted by a Doctorate in Musicology from the University of Calgary. Originally from Montreal, Quebec, he now lives in Cochrane, Alberta and sometimes, in Kimberley, British Columbia.
Jason that Funny Magic Guy Bio: If you crossed Jim Carey with Criss Angel you would end up with Jason Werhun - That Funny Magic Guy. One half hilarious magician, one half skilled comedian, 100% high energy entertainer. With more than 15 years of experience as a full-time professional magician, performing for festivals, resorts and corporations across North America, Jason is an entertainer you can count on to connect with your audience and bring that “Wow” factor to any event. Whether finding your card or catching a bullet in his teeth, Jason makes you feel the magic. Most recently Jason appeared on 5 episodes of Cave TV's "Man on a Mission" and was the first ever Canadian prize winner at the International Magic Competition in Qingdoa, China.
Entertaining delegates throughout the Welcome Reception, sponsored by Royal & Sun Alliance (RSA), is Canadian guitarist, Brad Mahon whose talents are recognized across the music industry.
Guests will be delighted by Jason that Funny Magic Guy during the reception and part of dinner at the Summit Awards Gala and Dinner, sponsored by IAMS and PetLynx Corporation.
Following the awards presentation at the gala, Summit delegates and guests will be treated to an entertainment surprise that will leave you begging for more...
Jason that Funny Magic Guy Bio: If you crossed Jim Carey with Criss Angel you would end up with Jason Werhun - That Funny Magic Guy. One half hilarious magician, one half skilled comedian, 100% high energy entertainer. With more than 15 years of experience as a full-time professional magician, performing for festivals, resorts and corporations across North America, Jason is an entertainer you can count on to connect with your audience and bring that “Wow” factor to any event. Whether finding your card or catching a bullet in his teeth, Jason makes you feel the magic. Most recently Jason appeared on 5 episodes of Cave TV's "Man on a Mission" and was the first ever Canadian prize winner at the International Magic Competition in Qingdoa, China.
Get the Facts, Have YourSAY™, Move the industry
18 August 2012
Summit - Sponsor support vouchers available
Organizers of the Summit for Urban Animal Strategies endeavor to promote inspiring and insightful conversations throughout the event which ultimately, produce healthy relationships, better understanding and important recognition in the companion animal industry. To do this, all executive level thought leaders have a place and perspective at the Summit.
In an effort to make the ISUAS accessible to all agencies and organizations across the industry, vouchers are available to non-profit organizations and other delegates who have not yet registered.
These $300 coupons can be presented by Summit sponsors and used towards ISUAS registration. Please contact a 2012 ISUAS sponsor for details.
In an effort to make the ISUAS accessible to all agencies and organizations across the industry, vouchers are available to non-profit organizations and other delegates who have not yet registered.
These $300 coupons can be presented by Summit sponsors and used towards ISUAS registration. Please contact a 2012 ISUAS sponsor for details.
- CANADIAN VETERINARY MEDICAL ASSOCIATION
- IAMS
- ONTARIO SPCA
- PETSECURE
- PETSMART CHARITIES OF CANADA
- PIJAC CANADA
- RSA
The Summits for Urban Animal Strategies attract executive thought leaders from North American companion animal industry to develop strategies that will create and sustain healthy communities for pets and people. Executive level discussion, networking and world class speakers facilitate the executive working sessions.
Get the facts, have your say, move the industry.
25 January 2012
An interview with Randy Valpy, Vice President and Managing Director, RSA Pet Insurance
Randy Valpy, the former head of Western Financial Insurance Company, is one of Canada's best known industry leaders. Recently he left Western Financial Insurance Company to take up the challenge of a newly created division of RSA. InfoStream caught up with Randy at RSA Canada's headquarters in Toronto:
InfoStream: Randy most of the industry has never heard of RSA. Who are they?
RV: RSA is a 300 year old Company with its global headquarters in the UK. It operates in 130 countries and is one of the largest underwriters of pet insurance in the United Kingdom usually just behind or just ahead of Petplan.
InfoStream: If we confine ourselves to the Canadian market for a minute, just how big is RSA?
RV: In Canada they have 3,500 employees and in 2010 generated over $2.2 billion in gross written premiums.
InfoStream: So why does RSA care about the pet insurance segment?
RV: First of all, pets is a segment of the financial services business with a very good opportunity for growth. Second, the existing players in North America own a small business that serves less than 2% of the pet families. Third, in other countries like the UK, pet insurance serves 10 times as many clients. Finally, RSA sees the opportunity to offer innovative services that will help grow the market. I believe this approach will be good for the entire industry. As others have said before, 'A rising tide lifts all boats!'
InfoStream: Some people don't understand RSA hiring a direct competitor, what is your response?
RV: Well, RSA has hired me to set up a pet insurance division. In my past life at Western/Petsecure, we built the largest pet insurance company in Canada. We grew Petsecure by 530% to own 59% of the Canadian market during my 10-year watch. At RSA, they believe I have the added benefit of moving outside the box to offer innovative approaches and services which was part of the attraction for me.
InfoStream: Randy, why do you see this as a big opportunity at this point in your career?
RV: First and foremost, this opportunity with RSA allows me to work where I live so that work/life balance is finally within reach. Second, I have always been attracted to the 'new thing'. Third, I was a founding member of the North American Pet Health Insurance Association [NAPHIA] and I believe the challenge of pet health and declining vet visits can be addressed with innovative services and offerings. Finally, my vision for the industry is to see planned wellness become something every responsible pet family sees as important for their pets.
InfoStream: Western Financial Insurance Company underwrote products for President's Choice Financial, Canadian Automobile Association, Nestle Purina PetCare and Hudson's Bay Company among others. Will you be able to continue this type of development activity with RSA?
RV: That's a good question. I'm not prepared to set out our strategy just at this moment. However, with my knowledge of the industry and RSA's commitment to, and global knowledge of, the pet insurance industry, I plan to create an innovative pet insurance brand. I think we can leverage RSA's incredible strength and underwriting capability to bring on new partners and to once again build the largest pet insurance company in Canada!
InfoStream: Thanks Randy, may we visit with you from time to time to see how this unfolds?
RV: You bet! I would welcome the opportunity to continue this dialogue.
InfoStream: Randy most of the industry has never heard of RSA. Who are they?
RV: RSA is a 300 year old Company with its global headquarters in the UK. It operates in 130 countries and is one of the largest underwriters of pet insurance in the United Kingdom usually just behind or just ahead of Petplan.
InfoStream: If we confine ourselves to the Canadian market for a minute, just how big is RSA?
RV: In Canada they have 3,500 employees and in 2010 generated over $2.2 billion in gross written premiums.
InfoStream: So why does RSA care about the pet insurance segment?
RV: First of all, pets is a segment of the financial services business with a very good opportunity for growth. Second, the existing players in North America own a small business that serves less than 2% of the pet families. Third, in other countries like the UK, pet insurance serves 10 times as many clients. Finally, RSA sees the opportunity to offer innovative services that will help grow the market. I believe this approach will be good for the entire industry. As others have said before, 'A rising tide lifts all boats!'
InfoStream: Some people don't understand RSA hiring a direct competitor, what is your response?
RV: Well, RSA has hired me to set up a pet insurance division. In my past life at Western/Petsecure, we built the largest pet insurance company in Canada. We grew Petsecure by 530% to own 59% of the Canadian market during my 10-year watch. At RSA, they believe I have the added benefit of moving outside the box to offer innovative approaches and services which was part of the attraction for me.
InfoStream: Randy, why do you see this as a big opportunity at this point in your career?
RV: First and foremost, this opportunity with RSA allows me to work where I live so that work/life balance is finally within reach. Second, I have always been attracted to the 'new thing'. Third, I was a founding member of the North American Pet Health Insurance Association [NAPHIA] and I believe the challenge of pet health and declining vet visits can be addressed with innovative services and offerings. Finally, my vision for the industry is to see planned wellness become something every responsible pet family sees as important for their pets.
InfoStream: Western Financial Insurance Company underwrote products for President's Choice Financial, Canadian Automobile Association, Nestle Purina PetCare and Hudson's Bay Company among others. Will you be able to continue this type of development activity with RSA?
RV: That's a good question. I'm not prepared to set out our strategy just at this moment. However, with my knowledge of the industry and RSA's commitment to, and global knowledge of, the pet insurance industry, I plan to create an innovative pet insurance brand. I think we can leverage RSA's incredible strength and underwriting capability to bring on new partners and to once again build the largest pet insurance company in Canada!
InfoStream: Thanks Randy, may we visit with you from time to time to see how this unfolds?
RV: You bet! I would welcome the opportunity to continue this dialogue.
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