2015: A Bounce Back Year for Western Surety Company

It is the time of year when many of us look back on our successes and achievements, and for Western Surety, it has been a strong year after the losses incurred in 2014. Scott Donald, President and CEO, compares Western Surety’s 2015 to a term normally used in the sporting world: “bounce back”.

“Let’s be honest, the loss we experienced in 2014 was the largest in our 106 year history” says Donald. “However, I am proud of how we handled the claims. We certainly did our part to reinforce the value and strength of the surety product to construction owners.”

Donald continues: “I like to think of 2015 as a bounce back year. In fact, we have even gone beyond that with close to record breaking premium and a loss ratio anticipated to settle around the zero mark.”

Donald says the strong growth this year can be attributed to the dedicated work of Western Surety’s highly skilled staff across the country. “It was a true team effort in regards to premium production as we have had significant increases in the Toronto and Halifax offices augmented by our consistent Western Canada premium.” Western Surety will also be announcing the hiring of two new members to the Regina underwriting team in early 2016.

Donald continues to be enthused about the Western Surety technology enhancements in the Contract e-Services program, our secure internet portal for bond approval and issuance. “While our employees remain our greatest asset in the eyes of our broker force, they are also assisted by technology. I am very pleased to say that our Contract e-Services has been very well received and highly complimented by our brokers. Our goal would be to have 100% utilization of this incredibly ‘user friendly’ system in 2016. Time will tell.”

Donald says 2016 will present challenges for the company, but Western Surety looks forward to the coming year with “cautious enthusiasm.”

“There are many challenges ahead, including the impact of the energy industry on the overall economy and construction in particular. And there is sure to be changes that will have to be incorporated within the transition of the new federal government as well as within a small number of new provincial governments,” adds Donald. “But we are in a great place to meet those challenges, with a dedicated staff and our commitment to service excellence.

From the entire staff of Western Surety, we wish you a Merry Christmas and a safe, prosperous and happy New Year.

Christmas Charity Donation

Continuing our tradition of having our employees enter into a draw for the right to select Western Surety’s annual Christmas charity donation, Mark Skanes, General Manager, East, chose the Daily Bread Food Bank in Toronto. We are very pleased to support this very worthwhile charity.

 

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