President’s Letter

We are focused on a resilient, sustainable, and equitable future.

Our strategy was designed to navigate the changes we anticipate on our horizon.

Some of these changes pose great challenges to the financial security of our communities. Climate change is impacting our communities in unprecedented ways. If we do not act, the impacts we’ve seen in 2021 will only get worse, and continue to threaten the very fabric of our communities. Some changes present opportunities to innovate. Digitization is re-shaping industries and consumer behaviours. These changes drive us to stay relevant to the emerging and ill-met needs of the people we serve. Other changes compel us to be better. Social movements are rightfully dismantling systemic racism. As businesses, we must seize opportunities to right these societal wrongs and improve our workforce culture.

We’re embracing change.

For over 75 years, Co-operators has primarily been in the business of protection. When events or circumstances threatened our clients’ financial security, our products, services and solutions provided the peace of mind needed to take care of what matters most. The fundamental purpose behind our work will not change: we exist to provide financial security for Canadians and our communities.

We are entering a new era.

Today, in the face of rapidly changing risks, we’ve placed a greater focus on loss prevention and mitigation, to further catalyze financial security in our communities and drive us toward our purpose. We’re investing our capital to build more resilient communities that can not only withstand, but thrive amidst change, including climate impacts.

With our new suite of wealth and investment products, we’re helping all people plan successfully for their futures, regardless of their level of wealth.

Our new brand will carry us forward.

Our new business model focused on holistic financial advice will help secure the environmental, social and financial strength of Canadians and their communities.

To act on climate change, we’ve established partnerships, products and services that promote climate resilience. We’ve set net-zero targets for our operations and our investments. We’ve joined international and national efforts to build the net-zero economy and more sustainable financial markets.

We are transforming our co-operative to meet the needs of our members and clients in a rapidly changing world. Our digital transformation enables us to focus on providing the guidance, tools, and information to help clients make the right decisions for themselves and their loved ones.

The work ahead will be challenging, and in many ways, we have significant ground to gain. Yet, this work will enrich us. Most importantly, it will require us to co-operate with our clients, members and communities in pursuit of a better future.

And that’s always been our strength.

Robert Wesseling
President and Chief Executive Officer, The Co-operators Group Limited