Insurance Business ReviewJULY 20258IN MY OPINIONTODAY'S MODERN MUTUALBy Donna Carbell, EVP, Chief Strategy and Impact Officer, Equitable Donna Carbell leads the product development, distribution, marketing and client service for the Individual Insurance line of business. She has more than 20 years of experience in the financial services space in progressively senior roles at Manulife. During her tenure at Manulife, she was Head of Group Benefits, Customer Experience and senior roles in Investments and Securities, Insurance, and Retirement. Donna is a Board Member of Special Olympics Canada and holds an MBA from Wilfrid Laurier University and a bachelor's degree in political science from Carleton University. Donna CarbellThrough this article, Donna Carbell shares her insights on how mutual insurance companies are both relevant and successful in the current insurance landscape.The insurance industry has a rich history in Canada. At a few points in the past, mutual insurance companies were a big part of the conversation about insurance overall. First, in the 1950s and 1960s when several insurance companies, including Equitable, mutualized to retain local ownership. Then again in the 1990s and early 2000s, when the headlines were about companies making the change from mutual ownership, owned by policyholders, to publicly traded stock companies, owned by shareholders. These days, there are fewer mutual companies in Canada, and we rarely ­ if ever ­ see headlines about ownership structures. While that may be true, there's still a place for the modern mutual. Their market share continues to grow.
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