| 630,000 Eligible Policyholders to Receive Information Circular Following our announcement of the date of the third Special Meeting on demutualization, Economical Insurance® has begun sending approximately 630,000 eligible policyholders the policyholder information circular that contains our conversion plan and the allocation formula for the distribution of financial benefits resulting from our anticipated initial public offering (IPO). Eligible policyholders will also receive a proxy form to participate in this historic vote. Eligible policyholders are being asked to vote on a resolution that allows Economical to apply to the Minister of Finance for authorization to demutualize. This resolution, along with instructions on how to vote, are on the proxy form. Watch a short video with Tom Reikman and Rowan Saunders for brokers on the importance of the special meeting to Economical and how we can help you support your customers. A huge milestone in our demutualization The third, and final, Special Meeting on demutualization is the last policyholder vote in our demutualization process. The first two Special Meetings were restricted to eligible mutual policyholders, who overwhelmingly passed the resolutions necessary to allow this vote of all eligible policyholders. A successful vote by eligible policyholders (mutual and non-mutual) is required for Economical to continue demutualization to become a publicly traded company. Impact to brokers and how to support your customers As trusted advisors, during the next few weeks you might be contacted by your customers who are eligible policyholders for advice, or to confirm the information they are receiving is legitimate. Please encourage your customers to read the information circular and to vote in this process so that they receive any benefits they are due. Also, please encourage them to register their demutualization accounts on joininourfuture.com, where they can learn more about this process, ensure that we have their correct contact information, and to see an estimate of their potential financial benefit. If you would like to connect with your eligible policyholders, we can provide lists of eligible policyholders at your brokerage, along with a sample of messaging you can send to encourage their participation. Resources for Brokers The policyholder information circular FAQ with quick references to general questions Contact information for your customers to get more personal assistance A short animated video on what demutualization is and why Economical wants to be a public company A simplified registration process for eligible policyholders Still making history This is a historic year for Economical. After 150 years as a mutual insurance company, we look forward to continuing to work with you, our broker partners, as a strong, publicly traded Canadian P&C insurer. If you have any questions, please contact your business development representative. |