Portage la Prairie Mutual Insurance Company · Portage la Prairie, MB Canada
Company Description
Phone: +1-204-857-3415
Fax: +1-204-239-6655
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This link will open in a new window Portage la Prairie Mutual Insurance Company, also known as Portage Mutual, won't carry your boat overland for you, but it may insure the vessel if you need to do so. In business since 1884, Portage Mutual has a long history providing property/casualty insurance. Started as a farm mutual, the company has continued serving the farming community, but it has branched out into other lines as well. The company sells agricultural, automobile, and homeowners' insurance; other lines include those geared for contractors, home businesses, offices, and retailers. Portage Mutual has offices in Manitoba, Alberta, Nova Scotia, Ontario, and Saskatchewan. To read the full description, subscribe now.
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Key Portage la Prairie Mutual Insurance Company Financials
| Company Type | Private - Mutual Company Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $151.3 |
| Employees | 180 |
Portage la Prairie Mutual Insurance Company Executives
9 executives listed for Portage la Prairie Mutual Insurance Company's Portage la Prairie, MB location.
| Title | Name & Bio | Contact |
| Chairman | Don Blight | Network |
| President, CEO, and Board Member | Tom McCartney | Network |
| Director of IT | Ken Metcalfe | Network |
Competition
Competitive Landscape for Portage la Prairie Mutual Insurance Company
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Portage la Prairie Mutual Insurance Company Competitors
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