Katherine Bardswick takes over as president and CEO of The Co-operators Grop today, the largest 100% Canadian-owned multi-line insurer.

The company is holding its annual meeting today at the Hyatt Regency Hotel in Vancouver.

Having joined The Co-operators in 1978, Bardswick has held a number of senior positions in Information Systems, Human Resources, Sales Management and Operations. Most recently, she served as COO of subsidiaries The Sovereign General Insurance Company and L’Union Canadienne Compagnie d’Assurances, based in Calgary and Quebec respectively. She replaces Terry Squire, who is retiring after nine years at the helm.

The Co-operators is reporting an after-tax loss of $1.9 million for 2001. It saw consolidated revenue growth of 8.8% to $2.065 billion, asset growth of 5% to $4.9 billion, premium income growth for the group of companies of 9.7% to $2.05 billion, and pre-tax income of $31 million.

“These successes are a testament to our potential,” says Bardswick. “2001 was the worst year on record for the insurance industry and The Co-operators did not escape the fallout of industry and world events. However, we enter 2002 with a vision, a plan and a commitment to return to prosperity in a way that is inclusive of all of our stakeholders and that builds on our strengths.”