Economical Insurance
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Economical Insurance
Economical Insurance, founded in 1871, is a Canadian Property & Casualty insurance company, offering automobile, property, liability, agriculture, and surety insurance. Its executive offices are located in Waterloo, Ontario, with regional offices across Canada. The company has a 4.02% market share, measured by direct written premium in the Canadian Property & Casualty Insurance market as of December 2012. As of 2014, it had about 1.6 billion in mutual policyholder's equity. It is the 9th largest property and casualty insurance company in Canada, by direct written premium and the 20th largest insurance company in Canada, by total assets. The firm owns several operating subsidiaries, the largest of which is Economical Mutual Insurance Company. Other member companies are Perth Insurance Company, Waterloo Insurance Company, The Missisquoi Insurance Company, and Federation Insurance Company of Canada. History The company was established when a group of people in Berlin (now Kitch ...
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Subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries are separate, distinct legal entities f ...
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Definity Inc
Definity may refer to: * Definity (film recorder) *Avaya Definity, the Avaya Definity PBX * Perflutren, with the trade name A trade name, trading name, or business name, is a pseudonym used by companies that do not operate under their registered company name. The term for this type of alternative name is a "fictitious" business name. Registering the fictitious name w ... ''Definity'', is a type of microbubble contrast agent * Definity Inc., financial company and owns several insurance companies. {{Disambig ...
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Kitchener, Ontario
) , image_flag = Flag of Kitchener, Ontario.svg , image_seal = Seal of Kitchener, Canada.svg , image_shield=Coat of arms of Kitchener, Canada.svg , image_blank_emblem = Logo of Kitchener, Ontario.svg , blank_emblem_type = Logo , blank_emblem_size = 100x90px , image_map = , map_caption = , pushpin_map = Canada#Canada Southern Ontario#CAN ON Waterloo , pushpin_map_caption = , subdivision_type = Countries of the world, Country , subdivision_type1 = Provinces and territories of Canada, Province , subdivision_name = Canada , subdivision_name1 = Ontario , subdivision_type2 = Census divisions of Ontario, Region , subdivision_name2 = Regional Municipality of Waterloo, Waterloo , leader_title = Mayor , leader_name = Berry Vrbanovic , leader_title2 = Governing Body , leader_name2 = Kitchener City Council , established_title = Found ...
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Waterloo, Ontario
Waterloo is a city in the Canadian province of Ontario. It is one of three cities in the Regional Municipality of Waterloo (formerly Waterloo County, Ontario, Waterloo County). Waterloo is situated about west-southwest of Toronto. Due to the close proximity of the city of Kitchener, Ontario, Kitchener to Waterloo, the two together are often referred to as "Kitchener–Waterloo", "K-W" or "The Twin Cities". While several unsuccessful attempts to combine the municipalities of Kitchener and Waterloo have been made, following the 1973 establishment of the Region of Waterloo, less motivation to do so existed, and as a result, Waterloo remains an independent city. At the time of the Canada 2021 Census, 2021 census, the population of Waterloo was 121,436. History Indigenous peoples and settlement According to the city, Indigenous peoples in Canada, indigenous peoples lived in its area, including the Haudenosaunee, Iroquois, Anishinaabe and Neutral Nation. After the end of the Am ...
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Alberta
Alberta ( ) is one of the thirteen provinces and territories of Canada. It is part of Western Canada and is one of the three prairie provinces. Alberta is bordered by British Columbia to the west, Saskatchewan to the east, the Northwest Territories (NWT) to the north, and the U.S. state of Montana to the south. It is one of the only two landlocked provinces in Canada (Saskatchewan being the other). The eastern part of the province is occupied by the Great Plains, while the western part borders the Rocky Mountains. The province has a predominantly continental climate but experiences quick temperature changes due to air aridity. Seasonal temperature swings are less pronounced in western Alberta due to occasional Chinook winds. Alberta is the fourth largest province by area at , and the fourth most populous, being home to 4,262,635 people. Alberta's capital is Edmonton, while Calgary is its largest city. The two are Alberta's largest census metropolitan areas. More tha ...
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British Columbia
British Columbia (commonly abbreviated as BC) is the westernmost province of Canada, situated between the Pacific Ocean and the Rocky Mountains. It has a diverse geography, with rugged landscapes that include rocky coastlines, sandy beaches, forests, lakes, mountains, inland deserts and grassy plains, and borders the province of Alberta to the east and the Yukon and Northwest Territories to the north. With an estimated population of 5.3million as of 2022, it is Canada's third-most populous province. The capital of British Columbia is Victoria and its largest city is Vancouver. Vancouver is the third-largest metropolitan area in Canada; the 2021 census recorded 2.6million people in Metro Vancouver. The first known human inhabitants of the area settled in British Columbia at least 10,000 years ago. Such groups include the Coast Salish, Tsilhqotʼin, and Haida peoples, among many others. One of the earliest British settlements in the area was Fort Victoria, established ...
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Nova Scotia
Nova Scotia ( ; ; ) is one of the thirteen provinces and territories of Canada. It is one of the three Maritime provinces and one of the four Atlantic provinces. Nova Scotia is Latin for "New Scotland". Most of the population are native English-speakers, and the province's population is 969,383 according to the 2021 Census. It is the most populous of Canada's Atlantic provinces. It is the country's second-most densely populated province and second-smallest province by area, both after Prince Edward Island. Its area of includes Cape Breton Island and 3,800 other coastal islands. The Nova Scotia peninsula is connected to the rest of North America by the Isthmus of Chignecto, on which the province's land border with New Brunswick is located. The province borders the Bay of Fundy and Gulf of Maine to the west and the Atlantic Ocean to the south and east, and is separated from Prince Edward Island and the island of Newfoundland by the Northumberland and Cabot straits, ...
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Ontario
Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Canada, it is Canada's most populous province, with 38.3 percent of the country's population, and is the second-largest province by total area (after Quebec). Ontario is Canada's fourth-largest jurisdiction in total area when the territories of the Northwest Territories and Nunavut are included. It is home to the nation's capital city, Ottawa, and the nation's most populous city, Toronto, which is Ontario's provincial capital. Ontario is bordered by the province of Manitoba to the west, Hudson Bay and James Bay to the north, and Quebec to the east and northeast, and to the south by the U.S. states of (from west to east) Minnesota, Michigan, Ohio, Pennsylvania, and New York. Almost all of Ontario's border with the United States f ...
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Quebec
Quebec ( ; )According to the Canadian government, ''Québec'' (with the acute accent) is the official name in Canadian French and ''Quebec'' (without the accent) is the province's official name in Canadian English is one of the thirteen provinces and territories of Canada. It is the largest province by area and the second-largest by population. Much of the population lives in urban areas along the St. Lawrence River, between the most populous city, Montreal, and the provincial capital, Quebec City. Quebec is the home of the Québécois nation. Located in Central Canada, the province shares land borders with Ontario to the west, Newfoundland and Labrador to the northeast, New Brunswick to the southeast, and a coastal border with Nunavut; in the south it borders Maine, New Hampshire, Vermont, and New York in the United States. Between 1534 and 1763, Quebec was called ''Canada'' and was the most developed colony in New France. Following the Seven Years' War, Quebec b ...
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Moses Springer
Moses Springer (August 24, 1824 – September 5, 1898) was an Ontario businessman and political figure who became the first mayor of Waterloo, Ontario. He also represented Waterloo North in the Legislative Assembly of Ontario as a Liberal member from 1867 to 1881. Springer was born August 24, 1824, to Benjamin Springer, originally from Poughkeepsie, and Mary Rykeman, in Doon in Upper Canada. One of 11 children, he was orphaned at the age of 10 when both parents died in 1834 during a cholera epidemic. He was later adopted and raised by Mennonite bishop Joseph B. Hagey. He worked as a farm hand, taught school and served as a provincial land surveyor in Woolwich Township. In 1854, he moved to Waterloo where he became the owner and publisher of the German language newspaper ''Der Canadische Bauernfreund''. He opened a store there in 1856. He was the president of the Waterloo Mutual Fire Insurance Company and helped found the Ontario Mutual Life Assurance Company, later Claric ...
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Maritimes Provinces
The Maritimes, also called the Maritime provinces, is a region of Eastern Canada consisting of three provinces: New Brunswick, Nova Scotia, and Prince Edward Island. The Maritimes had a population of 1,899,324 in 2021, which makes up 5.1% of Canada's population. Together with Canada's easternmost province, Newfoundland and Labrador, the Maritime provinces make up the region of Atlantic Canada. Located along the Atlantic coast, various aquatic sub-basins are located in the Maritimes, such as the Gulf of Maine and Gulf of St. Lawrence. The region is located northeast of the United States's New England, south and southeast of Quebec's Gaspé Peninsula, and southwest of the island of Newfoundland. The notion of a Maritime Union has been proposed at various times in Canada's history; the first discussions in 1864 at the Charlottetown Conference contributed to Canadian Confederation. This movement formed the larger Dominion of Canada. The Mi'kmaq, Maliseet and Passamaquoddy people ...
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Demutualization
Demutualization is the process by which a customer-owned mutual organization (''mutual'') or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, members of a mutual usually receive a "windfall" payout, in the form of shares in the successor company, a cash payment, or a mixture of both. Mutualization or mutualisation is the opposite process, wherein a shareholder-owned company is converted into a mutual organization, typically through takeover by an existing mutual organization. Furthermore, re-mutualization depicts the process of aligning or refreshing the interest and objectives of the members of the mutual society. The mutual traditionally raises capital from its customer members in order to provide services to them (for example building societies, where members' savings enable the provision of mortgages to members). It redistributes some profits to its members. By contrast, a joint ...
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