WATERLOO, ON, October 2, 2019 – Economical Insurance today announced that
Robert McFarlane will be joining the company’s board of directors, effective November 8, 2019.
“Bob brings a strong background in public company leadership and value creation to the Economical board. Having been one of Canada’s top CFOs and a member of several public company boards, he has had extensive experience in corporate strategy, business transformation, corporate finance, mergers and acquisitions, and IPOs,” said John Bowey, board chair of Economical. “Bob also has board experience specifically in the P&C insurance space. This is the perfect time to add Bob’s skill set to our board, and I am confident that Economical will benefit from the insight and knowledge that he will bring.”
Among other roles during his career, Mr. McFarlane served from 1994 as EVP, CFO and Secretary-Treasurer of Clearnet Communications Inc., playing a key role in its IPO. Following the acquisition of Clearnet by TELUS Corporation in 2000, Mr. McFarlane was appointed EVP and CFO of TELUS where he was recognized as Canada’s top CFO in 2007 by Canadian Business magazine. Since leaving TELUS at the end of 2012, he has been active on various corporate and not-for-profit boards. A resident of Vancouver, British Columbia, Mr. McFarlane currently serves on the boards of HSBC Bank Canada and Entertainment One Inc.
About Economical Insurance
Economical is a leading property and casualty insurer in Canada, with approximately $2.5 billion in annualized gross written premiums and approximately $5.8 billion in assets as at June 30, 2019. Economical is a Canadian-owned and operated company that services the insurance needs of more than one million customers across the country.