federated insurance company of canada type wholly owned subsidiary northbridge financial corporation industry insurance founded 1920 headquarters winnipeg manitoba canada key people wayne connelly president products property & casualty insurance number of employees 370 parent northbridge financial a wholly owned subsidiary of fairfax financial slogan knowing your business matters website http www.federated.ca federated insurance company of canada federated insurance is a direct writer of property and casualty insurance products headquartered in winnipeg manitoba canada . the company has approximately 370 employees in nine offices across canada with approximately 150 in winnipeg . federated insurance has an a. m. best rating of a excellent . 1 contents 1 history 1.1 canadian history 2 product range 3 markets 4 references history edit during the 1890s the retail implement dealers in minnesota formed an association which proved to be very successful . in 1904 these dealers decided to try to reduce their insurance costs by organizing their own insurance company . 2 initially the company was known as the minnesota implement mutual fire insurance company and retained this name for many years . they would later become the mutual implement and hardware insurance company then federated mutual implement and hardware insurance company and finally federated mutual insurance company federated mutual . on january 1 1948 federated mutual entered the casualty insurance field and was one of the first major insurance companies to write both fire and casualty insurance . in november 1949 accident and health coverage was added with group accident and health insurance being written for various trade associations and employer groups . federated life insurance company federated life was organized in january 1959 . canadian history edit in september 1920 federated mutual began operating in canada . 3 by 1933 the sales force had increased from two to 17 representatives and the annual premium income was approximately 1 million primarily from hardware and implement business . early in 1944 federated mutual aggressively went after and obtained endorsements from farm equipment manufacturers and associations across the country . this paved the way for writing insurance for many farm equipment dealers during the next few years . expanded into the casualty business in 1948 . this brought a tremendous boost to the growth and development of the canadian operation . federated mutual entered the life insurance business in canada effective january 1 1964 . growth continued as the company entered the group health insurance field . group plans were sold until the provincial governments introduced socialized medicine . a supplemental health plan and dental plan was introduced in 1987 . in november 1987 the canadian division was converted to a wholly owned corporate subsidiary operation federated holdings of canada ltd. which holds all the stock in the two operating subsidiaries federated insurance company of canada and federated life insurance company of canada . on january 1 1990 federated insurance and federated life became fully canadian owned and operated subsidiaries of fairfax financial holdings ltd. of toronto ontario when federated insurance holdings of canada ltd. was purchased from federated mutual . 4 in 1998 contact insurance network ltd. was incorporated as a wholly owned subsidiary of federated insurance . the year 2000 saw federated insurance poised to undertake a series of major change initiatives in response to recognized external and internal drivers . restructuring came about as result of a desire to improve proximity to and relationships with customers and to generally work under more efficient processes . federated also sought to devote considerable resources to the enormous potential represented in various e business opportunities . in april 2003 fairfax financial holdings formed northbridge financial corporation to serve as the holding company for their canadian insurance subsidiaries including federated insurance lombard canada ltd commonwealth insurance company and markel insurance company of canada . 5 in may 2004 federated holdings of canada ltd. announced an agreement to sell federated life to western financial group inc. effective february 28 2005 the sale of federated life to western financial group inc. was complete . 6 northbridge financial corporation is a financial services holding company that through its operating subsidiaries is engaged in property and casualty insurance in canada and in selected us and international markets . 7 northbridge is a wholly owned subsidiary of fairfax financial holdings ltd. 8 product range edit list of products offered by federated insurance company of canada commercial property and casualty insurance life disability and critical illness insurance home and auto insurance markets edit list of markets in which federated insurance company of canada operates 9 equipment dealers home builders trade contractors electrical contractors mechanical contractors printers tire dealers rv dealers motorcycle and powersports dealers petroleum dealers automotive dealers repair garages grocery stores references edit a. m. best s rating center company information for federated insurance company of canada federated mutual insurance company our history & mission federated insurance company of canada our history fairfax financial holdings ltd 1990 annual report pdf fairfax financial holdings ltd letter to shareholders march 5 2004 pdf western financial group 2005 annual report pdf northbridge financial corporation about us fairfax financial holdings ltd letter to shareholders march 6 2009 pdf northbridge financial corporation our operating companies federated insurance retrieved from https en.wikipedia.org w index.php title federated insurance company of canada & oldid 709516751 categories companies based in winnipeginsurance companies of canada navigation menu personal tools 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