Charles Guay, the former president and CEO of both Standard Life Canada and Manulife Quebec, has been appointed to that role at UV Insurance. The industry veteran replaces Christian Mercier, who announced his departure earlier this year.
The Drummondville-headquartered mutual insurance company is among Canada’s oldest carriers. Founded in 1889, it provides life and health insurance, wealth and group benefit products.
“[Guay’s] strategic vision, his experience in transformation and his keen sense of execution give us confidence that he will be able to translate our development ambition into concrete actions that will help strengthen our presence in the market,” said Alain Bédard, board chair, in a media release.
Guay is an industry heavyweight whose mandate is to grow the company and “accelerate innovation,” according to the release. The company has not signalled any intention to demutualize.
Charles Guay arrives with a wealth of experience. He also led the investment funds division at the National Bank of Canada.
UV Insurance posted net income of $7.9 million and a 35% increase in assets for fiscal 2025, following its acquisition of a block of life insurance policies from BMO Insurance. The deal doubled the number of members served by the mutual insurance company to half a million.