Royal & SunAlliance Canada confirms that president and CEO Larry Simmons will retire. No effective date has been given, as Simmons will stay on until a replacement is found, says RSA Canada communications director Sally Turney.Simmons took over the top spot in late 2001, moving up from the position of president and COO. He was successor to Bob Gunn, who became group COO for RSA’s worldwide operations, and eventually interim CEO until announcing his own retirement last year.Simmons is a member of RSA Canada’s board of directors, which oversees the Royal & SunAlliance Insurance Co. of Canada, Western Assurance Co. and Quebec Assurance Co.Simmons came from RSA’s U.S. operations, where his last post was as COO of commercial insurance. In Canada, he has become involved in various industry associations including as deputy chair of the Facility Association, and as a board member of the Institute for Catastrophic Loss Reduction and the Insurance Bureau of Canada.
Will reinsurance capacity be stable in Canada after record-breaking NatCat losses?
Though 2024’s reinsurance renewal season started off stable compared to 2023, this summer’s record-breaking insured losses from four major Nat Cats will undoubtedly see growth in Canadian carriers’ reinsurance demand. But reinsurance supply may not grow commensurately, experts tell Canadian Underwriter. Beyond Canada, global insured Cat losses could be the factor that makes or breaks […]
By Alyssa DiSabatino | September 23, 2024
2 min read