HSB Canada Marks its 150th Anniversary
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TORONTO — HSB Canada is celebrating its 150th anniversary as the specialty insurer looks ahead to its continuing evolution from the age of steam to cyber risks and high-tech equipment in a connected world.
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In a world powered by steam boilers, HSB Canada was founded in 1875, taking a scientific approach to the perils of the day, when explosions were commonplace and deadly.
The company combined inspections, engineering, and insurance to help prevent accidents and provide the coverage and services customers needed to recover and get back in business.
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Over the years, HSB Canada has been at the forefront of new technologies, offering products and services that protect businesses and individuals, helping prevent losses and advancing energy sustainability.
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'It is in HSB's DNA to leverage its technical expertise to manage risks and develop market-oriented solutions for emerging exposures,' said Barbara Bellissimo, president and chief executive officer of HSB Canada. 'HSB Canada's founders showed remarkable foresight in aligning accident prevention with insurance coverage. We have remained true to this principle and today operate with a startup mindset.'
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HSB Canada provides cyber risk, equipment breakdown, and service line insurance for homes and businesses, and renewable energy all-risk, and specialty liability coverage.
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HSB Group, part of Munich Re, is a leading provider of equipment breakdown and other specialty insurance, inspections, engineering, and technology services.
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HSB Canada
HSB Canada, part of Munich Re, is a multi-line specialty insurer and provider of inspection and risk management. HSB Canada's insurance offerings include equipment breakdown, cyber risk, and other coverages. HSB blends its engineering expertise, technology and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150-year history HSB's mission has been to help clients prevent loss, advance sustainable use of energy and build deeper relationships that benefit business, public institutions, and consumers. HSB holds A.M. Best Company's highest financial rating, A++ (Superior). For more information, visit www.hsb.ca and connect on LinkedIn and Facebook.
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Munich Re
Munich Re is one of the world's leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the asset management company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. Munich Re leverages its strengths to promote its clients' business interests and technological progress. Moreover, Munich Re develops covers for new risks such as rocket launches, renewable energies, cyber risks and artificial intelligence. In the 2024 financial year, Munich Re generated insurance revenue of €60.8bn and a net result of €5.7bn. The Munich Re Group employed about 44,000 people worldwide as of 31 December 2024.
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