Phase

Board decision

The Economical Board of Directors initiates the demutualization process on November 3, 2015.

First special meeting

Eligible mutual policyholders voted in favour to negotiate with eligible non-mutual policyholders on allocation of benefits on December 14, 2015.

Policyholder committees

On June 26, 2018, Economical announced it had submitted its conversion plan, a detailed document that outlines how the company will demutualize, to its principle regulator. The conversion plan includes the allocation of financial benefits negotiated by the policyholder committees. The conversion plan will remain confidential during the review, after which the demutualization process will move to Phase 4a.

Second special meeting

Eligible mutual policyholders vote on changing the bylaws of Economical at the second special meeting in order to continue the process. The bylaw change allows eligible non-mutual policyholders to vote on the conversion plan.

Third special meeting

The conversion plan is sent to all eligible policyholders, who vote together to approve it at the third special meeting. If this vote passes, Economical can then apply to the Minister of Finance to demutualize. This vote and special meeting will likely happen four to five months after the vote in Phase 4a is complete.

If this vote passes, Economical will then apply to the Minister of Finance for approval to demutualize. After receiving letters patent of conversion from the Minister, Economical will begin the initial public offering process.


Read a more detailed summary of the four phase process.

Read more about the committee negotiations.


Building for the Future

Building for the Future

In a rapidly changing industry, where technology and consumer expectation continually evolve, Economical's vision is an ambitious one - to be one of Canada's top P&C insurers, recognized for our business innovation and how well we take care of our customers.

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Building for the Future

Building for the Future

In a rapidly changing industry, where technology and consumer expectation continually evolve, Economical's vision is an ambitious one - to be one of Canada's top P&C insurers, recognized for our business innovation and how well we take care of our customers.

In recent years, Economical has focused on strengthening our business, while advancing innovative strategies to increase our competitive advantage. While there is no one action that will ensure success, when taken together, these actions provide the roadmap for strong performance to make Economical an industry leader with a long and bright future.

Economical is committed to honouring the roots of our company as we focus on our future as a public company. Given the experience of our executive and our Board, the dedication of our employees, and the support of our valued broker partners, it is a future that our policyholders and our future shareholders can depend on.

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Learn about Demutualization

Learn About Demutualization

Learn more about demutualization, what's in it for you, and how you can join in our future.

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Learn about Demutualization

Learn About Demutualization

Economical Mutual Insurance Company ("Economical") is currently a mutual company. Unlike most companies, it does not have shareholders who own the company.

After over 145 years as a mutual company, Economical has decided to change. We have begun a process to become a widely-held company with common shares. This process is called a demutualization. After demutualization, Economical intends to list our shares on a public stock exchange.

Demutualization is an exciting opportunity to unlock the potential of Economical - allowing it to continue its pursuit of innovation, growth, and exceptional service.

Demutualization is also a unique opportunity for "eligible policyholders" to participate in this change and get financial benefits from it. As part of demutualization, eligible policyholders may receive financial benefits such as cash or shares in Economical.

Imagine, just by being a loyal customer of Economical, you could possibly become one of its new shareholders.

Learn more about demutualization, what's in it for you, and how you can join in our future.

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Received a letter from us? Log in to set up your demutualization account.

Log In to Your Demutualization Account

Eligible policyholders should have received a letter with login details for their personalized demutualization account. This account gives eligible policyholders access to their own details about demutualization. Log in and set up your account.

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Received a letter from us? Log in to set up your demutualization account.

Received a letter from us? Log in to set up your demutualization account.

Eligible policyholders should have received a letter from us with login details for their personalized demutualization account. This self-serve account allows eligible policyholders to

  • track their status as an eligible policyholder
  • view policy details that relate to demutualization to ensure we have the right information
  • update contact information for demutualization
  • receive demutualization materials electronically
  • sign up for demutualization updates
  • see voting information and the benefits they may receive (to come later)

Log in and set up your account.

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