Toronto-based RSA Canada announced on Wednesday that Rowan Saunders, its president & CEO since 2003, will be leaving the property and casualty insurer to take up a new position as president & CEO of Waterloo, Ont.-based Economical Insurance.

Rowan will be replaced by Martin Thompson, currently senior vice president commercial insurance and global specialty lines, who will become president and acting CEO of RSA Canada effective immediately.

Thompson will join also the board of RSA Canada and the executive committee of London, U.K.-based RSA I Group reporting to its CEO Stephen Hester.

Thompson joined RSA Canada as senior vice president, global specialty lines in Sept. 2013 from RSA’s Scandinavian operations where he held the position of director, underwriting and risk. He joined RSA Group in 1997, and has held progressive senior roles within the business including director of commercial insurance in the Canadian business from 2008 to 2010, and underwriter director, packages in the U.K. business. He is an associate of the Chartered Insurance Institute in the U.K. and a graduate of the University of Glasgow.

Commenting on the moves, Hester, says in a statement: “Rowan has been an outstanding leader for RSA, serving the firm in Canada for 29 years, 13 as CEO. He leaves with our sincere thanks and good wishes. I am delighted that in Martin we have fine succession. He is well known across RSA to our staff and our key brokers having worked in all of our major regions. With his colleagues on our Canadian executive team we are in good shape to continue to build the strong and successful business we have in Canada.”

The RSA Canada group of companies includes Roins Financial Services Limited, Royal & Sun Alliance Insurance Company of Canada, Quebec Assurance Company, Johnson Inc., Unifund Assurance Company, Western Assurance Company, Ascentus Insurance Ltd., Canadian Northern Shield Insurance Company and RSA Travel Insurance Inc., and is part of RSA Insurance Group Plc.

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