Who Owns The Personal Insurance? Unpacking the Ownership Structure

The Personal Insurance Company, a well-known provider of home and auto insurance in Canada, is owned by Desjardins Group. More specifically, it operates as a subsidiary within the Desjardins General Insurance Group (DGIG), itself a component of the larger Desjardins Group, a leading financial cooperative in North America. This ownership structure provides The Personal with significant stability and resources.

Understanding The Desjardins Group

To truly understand the ownership of The Personal, it’s crucial to grasp the nature of Desjardins Group. Unlike publicly traded insurance companies with shareholders, Desjardins is a cooperative financial group. This means it’s owned by its members, which include individuals and businesses who bank with Desjardins credit unions (caisses populaires). As a result, Desjardins reinvests its profits into its members and communities.

The Desjardins General Insurance Group (DGIG)

The Desjardins General Insurance Group (DGIG) is the arm of Desjardins responsible for its property and casualty (P&C) insurance operations. This group encompasses several insurance brands, with The Personal being a prominent one. DGIG benefits from the financial strength and brand reputation of Desjardins, allowing it to offer competitive insurance products and services.

The Personal’s Role Within Desjardins

The Personal Insurance Company operates as a distinct entity within DGIG. It has its own management team and focuses on specific market segments, often offering group insurance rates to employees and members of affiliated organizations. This allows The Personal to leverage the larger Desjardins network while maintaining a specialized approach to customer service and product offerings.

Benefits of Cooperative Ownership

The cooperative ownership structure of Desjardins, and consequently of The Personal, provides several advantages:

• Member-Focused Approach: Decisions are often made with the best interests of members in mind, rather than solely maximizing shareholder profits.
• Long-Term Perspective: Desjardins tends to take a longer-term view, investing in infrastructure and innovation to benefit its members and the communities it serves.
• Financial Stability: As a large and well-capitalized cooperative, Desjardins offers financial stability to its subsidiaries, including The Personal.
• Community Involvement: Desjardins is known for its commitment to community development and social responsibility.

Frequently Asked Questions (FAQs) About The Personal Insurance

Here are some commonly asked questions about The Personal Insurance, its ownership, and its operations:

1. Is The Personal a Publicly Traded Company?

No, The Personal is not a publicly traded company. It is a subsidiary of Desjardins Group, which is a cooperative financial group owned by its members.

2. What is the Relationship Between The Personal and Desjardins?

The Personal Insurance Company is part of the Desjardins General Insurance Group (DGIG), which is a subsidiary of the larger Desjardins Group. Desjardins owns The Personal.

3. Does Desjardins Control The Personal’s Operations?

Yes, Desjardins, through DGIG, ultimately controls The Personal’s operations. However, The Personal has its own management team responsible for day-to-day operations and strategic planning.

4. How Does Desjardins’ Ownership Benefit The Personal’s Customers?

Desjardins’ ownership provides financial stability, access to resources, and a member-focused approach that can translate to better customer service and competitive insurance rates for The Personal’s customers.

5. What Types of Insurance Does The Personal Offer?

The Personal primarily offers home and auto insurance. They often specialize in providing group rates to employees and members of affiliated organizations.

6. Can Anyone Get Insurance Through The Personal?

While anyone can inquire about insurance, The Personal often focuses on providing group insurance rates to members of specific organizations, employers, and associations. However, they do offer individual policies as well.

7. How Can I Find Out if I am Eligible for Group Rates Through The Personal?

Check with your employer, professional association, or alumni group to see if they have a partnership with The Personal Insurance Company.

8. Is The Personal Insurance Available Outside of Canada?

The Personal Insurance Company primarily operates within Canada. While Desjardins Group has some international operations, The Personal’s insurance products are generally focused on the Canadian market.

9. How Does The Personal Compare to Other Insurance Companies?

The Personal competes with other major insurance companies in Canada, offering competitive rates and coverage options. Its strength lies in its group insurance programs and the backing of Desjardins’ financial stability and reputation.

10. What is The Claims Process Like With The Personal?

The Personal offers a standard claims process similar to other insurance companies. Policyholders can typically file claims online, by phone, or through their insurance broker. The process involves providing details of the incident, submitting documentation, and working with a claims adjuster.

11. How Do I Contact The Personal Insurance Company?

You can contact The Personal Insurance Company through their website, by phone, or through an insurance broker. Contact information is readily available on their official website.

12. Does The Personal Offer Any Discounts on Insurance?

Yes, The Personal offers various discounts, including discounts for bundling home and auto insurance, having a good driving record, installing security systems, and being a member of a qualifying group or organization.