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Economical is one of Canada’s leading property and casualty (P&C) insurance companies.

Headquartered in Waterloo, Ontario, we're proud to serve more than one million Canadians across the country through a national independent broker force. As a multi-channel insurance company, we provide Canadians with great service regardless of how they choose to purchase their insurance. Behind the scenes and in the field, it's our employees and valued broker partners that make all the difference. They're the reason we’ve come as far as we have, and the reason we’ll go much further still.

Investments in innovation, customer service, and operations underpin the future of Economical. Our company is poised to grow, invest, expand, and deliver value to its broker partners and customers. Get ready for the future, with us.

May 2021

At the third and final special meeting on demutualization, to be held virtually on May 20, 2021, Economical policyholders will vote on a special resolution to demutualize. If the resolution is passed, Economical can apply to the federal Minister of Finance for the final regulatory approval to demutualize and proceed with the next steps towards becoming a public company. Visit for more information about demutualization and to find out how to vote.


Economical made its first donation to the Canadian Red Cross in 2013, in response to catastrophic flooding in Alberta. Since then, Economical has continued to partner with the Canadian Red Cross to support disaster relief and emergency preparedness initiatives across the country. In 2017, Economical committed $450,000 to the Red Cross national disaster management program, and in 2019, Economical surpassed $1 million in donations to the Red Cross. Through its continued support of the Red Cross, Economical contributes to helping an average of more than 300 Canadians per day.

Photo of Red Cross staff

March 2019

At the second special meeting on demutualization, 99% of voting mutual policyholders approved an amendment to the by-laws of Economical to allow non-mutual policyholders to vote on the Company’s conversion plan and authorize the Company to apply to the Minister of Finance for authorization to demutualize.


Economical launched Vyne™, an innovative platform designed to help brokers simplify their workflow, provide faster service, and issue a policy in minutes. Vyne also includes clear risk and coverage options, reliable rates, flexible payment options, and easily understandable policy wording for customers.

Vyne logo


Petline launched the brand Peppermint, a pet insurance solution designed to help budget-conscious pet owners protect their pets. With Peppermint, customers can choose from four different plans with customized coverage levels for accidents and illness, as well as special coverage for alternative therapy, behavioural therapy, and medical devices.

peppermint logo

January 2017

Economical purchased Western Financial Insurance Company and changed its legal name to Petline Insurance Company. Petline provides Canadian pet owners with comprehensive coverage for dogs and cats under the Petsecure and Peppermint brands.

May 2016

Economical activated a multi-channel distribution strategy with the launch of our direct business, Sonnet Insurance Company. Sonnet is the digital direct brand of Economical.

December 2015

At a special meeting in Kitchener, Ontario, mutual policyholders overwhelmingly voted in favour of commencing negotiations with non-mutual policyholders on the allocation of demutualization benefits through court-appointed policyholder committees, surpassing the required two-thirds majority (of those voting) required for a successful vote.

A country road with sunlight at the end

November 2015

The Economical Board of Directors passed a formal resolution to proceed with demutualization — the process to convert the company from a mutual to a stock company with shareholders.

April 2015

Economical aligns its values to reflect our unified approach to providing best-in-class service to our customers: We focus on customers first. We bring our best. We’re stronger together.


At the 140th annual meeting, Economical launched its refreshed brand with an uncomplicated logo and a new tagline: good to know™. Member company brands were also brought under the Economical banner. While the company's legal name — Economical Mutual Insurance Company — did not change, The Economical Insurance Group® became Economical Insurance®. Waterloo Insurance became Economical Select™. The Missisquoi Insurance Company in Montreal became Economical Insurance®. Westmount Financial became Economical Financial™.


The Economical Board of Directors announced its intention to pursue demutualization, in order to provide Economical with greatly enhanced access to capital markets to fund growth and to compete more successfully against non-mutual P&C companies operating in Canada.


Langdon Insurance amalgamated with Economical Mutual Insurance Company, simplifying operations for policyholders and broker partners.

Langdon Insurance logo


Economical purchased the commercial portfolio of the Hartford Insurance Company of Canada, written through Langdon Insurance Company.

The Hartford Insurance Company logo


Our Riverbend office, located in Kitchener, opened to accommodate Head Office expansion.

Our Riverbend location


Federation Insurance (established in 1947) was purchased by Economical.

Federation Insurance Company logo


Economical purchased the insurance-related assets of the Family Group of Companies of British Columbia, known as Family Insurance Solutions.


Western General (established in 1905) amalgamated with Economical and became our farm division.

Western General logo


To more accurately reflect our brand and its group of member companies, we introduced The Economical Insurance Group (commonly referred to as TEIG) as our primary brand name. Our legal company name, The Economical Mutual Insurance Co., did not change.

The Economical Insurance Group logo


Our Head Office is relocated to its current location on Westmount Road in Waterloo.

Economical's Westmount office


Economical purchased Waterloo County Mutual Fire Insurance Company (established in 1863). Waterloo Insurance (branded as Economical Select in 2012) provides group insurance as a wholly owned subsidiary of Economical.

Waterloo Insurance logo


The Perth Mutual of Stratford (established in 1863) was purchased by Economical. Perth currently operates as a wholly owned subsidiary of Economical, providing non-standard personal auto and property coverage.

Perth Insurance logo


With the purchase of The Missisquoi and Rouville Insurance Company of Quebec (established in 1834), Economical expanded its business while preserving the sovereignty of the oldest operating Canadian-owned insurer.

Missisquoi Insurance logo


Economical purchased the Canadian operation of Northwestern Mutual Fire Insurance Association, expanding into the Maritimes. In addition to property and contents insurance, we began to offer automobile, accident, and illness insurance.

The offices of the Northwestern Mutual Insurance Company


Economical purchased Merchant's Casualty Company of Waterloo, expanding the company into Quebec.

Merchant's Casualty Insurance offices

1871 - 1916

As Economical grew, the need for more office space was apparent. From our humble beginnings in a single room, the company expanded twice within the region into larger spaces that could accommodate more employees. Our name was officially changed to The Economical Mutual Insurance Company, recognizing our growing reach beyond the region.

Our old offices


The Beginning

A Canadian success story — founded in 1871.

The Economical® success story began in what was once the small community of Berlin (now Kitchener), Ontario, when a group of concerned citizens banded together to help their neighbours during times of hardship and disaster. Economical Mutual Fire Insurance Company of Berlin issued its first policy on a house and barn on November 25, 1871.

Over the years, Economical and the insurance industry have experienced incredible growth and change. Through it all we have remained committed to our original promise of "neighbour helping neighbour" from coast to coast during times of hardship. And through it all we have also remained proudly Canadian.