Our Past, Present, and Future

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 brand.

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.

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.

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.

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.

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

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

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

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.

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.

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

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.

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.

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.

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.

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

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.