17383 rbci 05 corporate profile eng - rbc insurance · 17383_rbci 05 corporate profile eng 4/11/06...
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17383_RBCI 05 Corporate profile ENG 4/11/06 9:42 AM Page 2
R B C I N S U R A N C E 1
Two thousand and five was another excellent year for RBC Insurance®.
Revenues grew at 15 per cent over 2004 and expenses remained
flat creating significant operating leverage. The integration of the
Canadian operations of Provident Life and Accident Insurance
Company (“UnumProvident Canada”), a wholly owned subsidiary
of UnumProvident Corporation, acquired in May of 2004, continued
and is largely complete.
An important milestone for RBC was reached in June of 2005,
when RBC Insurance opened its first retail insurance branch.
Located next door to the RBC Royal Bank® branch in Scarborough,
Ontario, this new concept, multi-line insurance branch offers a
wide range of home, auto, life, health and travel insurance in a
manner that is consistent within the existing regulations (the
current Bank Act restricts the offer of most types of insurance in
bank branches). We are very encouraged with the results of these
new operations and plan to continue to expand this channel.
World events had a significant impact on the insurance industry
in 2005 and on the results of RBC Insurance. Our organization
felt the impact of hurricanes Katrina and Rita, specifically in our
property catastrophe reinsurance business. As a result of these
immense tragedies, in September 2005 we announced we would
take a charge of $203 million. Following careful analysis of this
area of our business, we have decided to reduce our overall
exposure to these risks going forward. I am pleased to report,
however, that our financial strength and ratings have been
unaffected despite these losses.
Our success and strong performance over the past year is the
result of several factors, including the hard work of our employees,
the continued growth and expansion of our operations, an
increased focus on maximizing distribution opportunities and
the introduction of new products and services.
In 2006, we will focus on four key priorities. First, we will continue
to drive revenue by leveraging the strengths of RBC Financial Group,
enhancing our product suite and expanding across all business
lines in North America and select international markets.
Next, we will also focus on becoming a North American leader in
key markets by building on our Canadian leadership positions
and continuing to grow our U.S. creditor, travel and life
insurance businesses.
Third, we will continue to leverage more efficient distribution
channels. By optimizing efficiencies in distribution with our third-
party relationships, and with particular emphasis on RBC channels
and delivering high-value products and services to clients at lower
costs, we can maximize reach to clients and provide multi-product
options within the current regulatory environment. We will also
continue to leverage opportunities to cross-sell insurance products
within existing RBC Insurance distribution channels.
Finally, we will continue to focus on providing a superior insurance
experience through our vision of “Always earning the right to be
our clients’ first choice.”
Going forward, we plan to continue to build our leading global
insurance organization by leveraging the strength of our existing
business to meet the evolving needs of consumers in North
America and throughout the world.
Neil Skelding
President & CEORBC Insurance
IFC A message from Jim Westlake 5 Executive committee 12 Fee and related activities
1 A message from Neil Skelding 6 Life and health 15 RBC overview
2 2005 highlights 9 Property and casualty 16 RBC Insurance locations
4 Corporate organization 11 Reinsurance IBC Directors
Our vision
“Always earning the rightto be our clients’ first choice”
A message from Neil SkeldingPresident & CEO, RBC Insurance
In the fall of 2004, RBC® began a major
transformation with a vision to becoming
a true “Client First” organization, able to
provide better, faster and more responsive
service to our clients. As a result of our
successful execution of the Client First
Initiative, RBC Financial Group® achieved record earnings in
2005. This is a tremendous accomplishment and reflects the
hard work and dedication of all employees.
Our Canadian Personal and Business (CPB) segment, which
includes our Global Insurance business, has made great progress
since its creation just over a year ago and it is making a significant
contribution to RBC’s overall enterprise results. In 2005, CPB
generated strong revenue growth across all of our business lines —
Business and Commercial Banking, Cards and Payment Solutions,
Global Insurance, Personal Banking, and Wealth Management —
by executing our growth strategy and by helping our employees
make it easier for clients to do business with us. In addition,
most of our businesses experienced gains in market share and
we have made very good progress with respect to client satisfaction.
These results reflect the strengths of our integrated retail financial
services organization and the continued focus of all CPB
employees on meeting the needs of every client we serve.
This past year we took additional steps to continue to bring our
organization, and our senior leaders, closer to our clients to help
foster clearer accountabilities, quicker decision making, less
duplication and, most importantly, an increased focus on our
clients. In this regard, CPB is concentrating on three strategic
priorities to help build on our progress. We will focus on the
following: optimizing our extensive distribution capabilities to
provide our clients with the right product through the right channel
at the right time; simplifying structures and streamlining processes
for everything from account openings to credit approvals in order
to reduce duplication and overlap; and expanding and focusing
on areas that offer above-average growth potential such as
insurance, wealth management, credit cards, brokerage, and
urban and high-value client markets to accelerate revenue growth.
Looking ahead, we are committed to making further progress
against these key priorities. I am confident that by working
together, and with the strong fundamentals in place, we will
continue to generate strong results across all of our businesses.
Jim Westlake
Group Head, RBC Canadian Personal and Business
A message from Jim WestlakeGroup Head, RBC Canadian Personal and Business
R B C I N S U R A N C E 3
Over the past year, RBC Insurance† focused on six strategic
priorities: revenue growth, efficient distribution, business
integration, North American leadership in key markets, risk
management and delivering a superior client experience.
In 2005, we made significant progress in all of these areas.
Business highlights
We launched several new products in 2005 to better meet the
needs of clients. The new Term 10 and Term 20 plans provide
Canadians with affordable life insurance choices that may be
renewed to provide coverage through to age 80, or may be
converted to a permanent life insurance plan at any time prior
to age 70. RBC Insurance, in partnership with The Edge
Benefits Inc., also launched The EdgeTM1 Critical Illness Plan,
which provides simplified and enhanced coverage alternatives
to protect Canadians against financial hardships should they
be diagnosed with a critical illness. From a travel insurance
perspective, RBC Insurance enhanced its travel insurance
options for seniors. These enhancements, which include an
improved medical questionnaire, special underwriting and
improved case management, will enable RBC Insurance to
provide travel insurance to a wider range of travellers.
In the U.S., we introduced a new version of RBC ExpressTERMTM,
our fully-automated term life insurance product, for in-branch
sale through licensed agents in U.S. financial institutions.
We continued to enhance our distribution network in response
to clients who said they wanted to meet face to face with an
insurance advisor for home, auto, travel and life insurance
products. In June 2005, RBC Insurance marked a significant
milestone with the opening of its first retail insurance branch.
The new branch provides a convenient retail option for
customers who are looking to meet face to face with an
insurance advisor for home, auto, travel and life insurance
products. Requests for more complex insurance products,
such as universal life insurance, are referred to specialized
sales representatives. RBC Insurance plans to open several
more offices near RBC Royal Bank branches over the next year.
Over the past year, we made significant strides to complete the
integration of the business acquired through UnumProvident
into our life and health insurance operations. Key achievements
included bringing together the management teams, brokerage
networks, group products and systems. We also continued to build
and maintain our leading positions in key insurance markets.
We improved our risk management processes and maintained
several important financial-strength ratings. RBC Life Insurance
Company, our Canadian life insurance operating entity, and
Liberty Life Insurance Company and Business Men’s Assurance
Company of America, our U.S. life insurance entities, renewed
their “A” (Excellent) financial strength ratings from A.M. Best.
Royal Bank of Canada Insurance Company Ltd., a primary
RBC reinsurance subsidiary located in Barbados, also
maintained its “A” (Excellent) financial strength rating from
A.M. Best and its AA– counterparty credit and financial
strength rating from Standard & Poor’s in 2005.
† RBC Insurance operates through a number of legal entities.Please refer to page 5 for a listing.
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Global Insurance
($ billions)
2003 2004 2005
4.0
3.0
2.0
1.0
0.0
Financial highlights
RBC Insurance total revenues for 2005 were $3.3 billion, representing
a 15 per cent increase over the previous year. Insurance premiums,
investment and fee income were also strong, reflecting growth across
all areas of its business.
2005 highlights
R B C I N S U R A N C E 54 2 0 0 5 C O R P O R AT E P R O F I L E
(L to R): Diane Churilla, Head, Finance; Karen Leggett, Head, Insurance Operations; Grant Hardy, Head, Actuarial & Insurance Risk Management;Neil Skelding, President & CEO, RBC Insurance; Stan Seggie, Head, Property & Casualty Insurance; Louise Mitchell, Head, Bank DistributedProducts; John Young, Head, Life & Health Insurance; Kathy Pryden, Head, Reinsurance & International Markets; Tom Dalinda, Head, Investments;David Black, Head, U.S. Insurance
RBC Insurance offers a wide range of life, health, creditor, travel,
home and auto insurance products and services to individual
and business clients in Canada and the U.S., as well as reinsurance
for clients around the world.
RBC Insurance, which operates as part of the Canadian
Personal and Business segment of RBC Financial Group, is
the largest Canadian bank-owned insurer, one of the top
10 Canadian life insurance producers and a leader in travel
insurance, creditor products and individual disability
insurance. We also have a fast growing home and auto
insurance business and a leading reinsurance operation.
Corporateorganization
RBC Insurance
Canadianoperations
U.S.operations
Internationaloperations
RBC InsuranceServices Inc.
RBC LifeInsuranceCompany 1
RBC TravelInsuranceCompany
RBC GeneralInsuranceCompany
AssuredAssistance Inc.
Liberty LifeInsuranceCompany1
The LibertyMarketing
Corporation
RBC Reinsurance(Ireland) Limited
Royal Bankof CanadaInsurance
Company Ltd.2
This chart does not represent the organization’s actual legal or divisional structure.
BusinessMen’s Assurance
Company ofAmerica1
1 “A” (Excellent) financial strength rating from A.M. Best.2 Royal Bank of Canada Insurance Company Ltd. has an “A” (Excellent) financial strength rating from A.M. Best and an AA– counterparty credit and financial strength rating from Standard & Poor’s.
RBC Insurance executive committee
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RBC Insurance offers life and health insurance, as well as
wealth accumulation solutions to individual and group
clients in Canada and the U.S. This includes term and
universal life, critical illness, disability and long term care
insurance, as well as group benefits. We also offer variable life
insurance, and fixed and variable annuities in the U.S. In
Canada, these products are distributed through more than
17,000 independent brokers affiliated with producer groups,
financial planning companies and stock brokerage firms, as
well as through direct sales and a network of more than 350
career sales representatives. Distribution in the U.S. is through
regional and independent broker-dealers, national marketing
organizations, RBC banking and investment channels, the
Internet, other direct marketing channels and a field force of
approximately 300 sales agents, operating primarily in the
southeastern United States.
In 2005, we launched a number of initiatives to further grow
and expand our life and health insurance business, including
introducing new products, further integrating our distribution
network and improving the overall efficiency of our operations.
From a product perspective, the new Term 10 and Term 20
plans provide Canadians with affordable term life insurance
choices. These plans may be renewed to provide coverage
through to age 80, or converted to a permanent life insurance
plan at any time prior to age 70. They also allow for simplified,
preferred underwriting classes, criteria and requirements
and provide the option for tele-application completion on
term plans of $100,000 or more.
RBC Insurance, in partnership with The Edge Benefits Inc.,
also launched The Edge Critical Illness Plan, which provides
simplified and enhanced coverage alternatives to protect
Canadians from financial hardships should they be diagnosed
with a critical illness.
We also completed the integration of our group insurance
products with those of the former UnumProvident Canada to
offer the most comprehensive and competitive group insurance
options to distributors and their clients. By bringing together
the management teams, brokerage networks, group products
and systems of both companies, we delivered outstanding
results in 2005 and continue to build and maintain our market
leading positions in key insurance markets.
As part of our ongoing effort to create operational efficiencies,
we announced the consolidation of our facilities in Calgary
and made changes to our western region organizational
structure. We appointed new regional vice-presidents for
the western and prairie regions and going forward, we will
continue to seek opportunities to align our third-party
distribution field resources more directly with our customers.
In addition, we introduced a number of initiatives to help
our distributors better meet their clients’ insurance needs.
In June, we relaunched the Sales Resource Centre for insurance
representatives. The newly redesigned site, which is accessible
through the RBC Insurance website, provides more efficient
and user-friendly access to valuable life and health insurance
sales, marketing and product information.
Life and health
Our life and health business provides a wide range of individual and group life and
health insurance solutions to individual and business clients in Canada and the U.S.
We are one of the top 10 Canadian life insurance producers and a leader in
individual disability insurance.
R B C I N S U R A N C E 9
For career sales representatives, we enhanced the Business
Intelligence Centre web portal that provides contracted
representatives with quick access to a variety of sales support
tools, such as job aids, and production bulletins, as well as
training and development information. It also provides access
to other commonly used applications such as FASATWeb
for online personalized commission information and
RBC Insurance University, the career sales learning management
system. A system was also created to enable information
sharing and document collaboration internally between
career sales head office staff, branch managers and branch
administrators and to support key administration, recruitment,
and in-field training functions. Going forward, we will
continue to look for opportunities to leverage RBC Insurance
systems that support a more productive sales force, allowing
us to remain a leader in the distribution of insurance
solutions to Canadians.
Our U.S. life insurance operations enjoyed a successful year
in 2005, consistent with our strategic focus on differentiated
insurance protection and wealth accumulation solutions,
efficient delivery and a superior client experience. Sales of
RBC LevelTERM® life insurance, which offers highly competitive
pricing for tobacco users, increased 67 per cent over the prior
year through continued expansion of our sales distribution.
RBC LevelTERM life insurance is offered through online and
off-line term insurance marketers, financial institutions, and
marketing organizations supporting independent agents, as well
as an RBC U.S. field sales force of approximately 300 agents.
We also introduced a new version of RBC ExpressTERM life
insurance, our fully-automated term product for in-branch
sales through licensed agents in U.S. financial institutions.
Offered in face amounts up to $250,000, this product enables
customers to complete an application, be approved for
coverage and receive a policy in as little as 15 minutes.
Average agent productivity increased more than 25 per cent
following the successful reorganization of our agency sales
operation in the U.S. Annuity sales through RBC Insurance
agents increased 50 per cent over the prior year and we
continued to increase the number of agents and managers
holding securities licenses.
Over the past year, our U.S. wealth management business
introduced a number of value-added services intended to
enhance relationships with key selling partners, including
regional and independent broker-dealers and national
marketing organizations. In June, we addressed the growing
need for effective retirement income strategies with an
innovative structured asset allocation model. The Income
for Life Model™2
is a turnkey solution that enables financial
professionals to transform accumulated client wealth into a
lifetime retirement income stream. We also introduced a
client seminar on the Clarity Duo™2
product, an innovative
wealth management solution that facilitates tax-efficient
wealth accumulation, access and transfer.
In 2005, we also enhanced our variable product portfolio
with 23 new investment options, featuring a combination
of low-cost index funds and actively-managed funds from
respected brand names. When structured with index
investment options, RBC Insurance variable annuities are
among the lowest in cost on the market.
We also took steps to differentiate ourselves among key
selling partners by offering RBC LevelTERM insurance to
broker-dealers and national marketing organizations.
Over the next year, our focus will be on further expanding
our North American life and health insurance operations
by integrating and leveraging our systems and technology
infrastructure, enhancing our product portfolio and
increasing cross-enterprise activities. To sustain our strong
market position, we will also seek opportunities to strengthen
our independent and proprietary distribution channels.
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Our property and casualty products include home, auto and
travel insurance for individual and business clients in Canada,
the U.S. and select international markets.
Home and auto insurance
RBC Insurance offers Canadians a comprehensive range
of personal home and auto insurance products, including
coverage for houses, condominium units, apartments,
cottages, automobiles, motorcycles, recreational vehicles
and snowmobiles. RBC Insurance home and auto insurance
products are offered to clients through direct sales channels,
including over the phone and the Internet, as well as through
group insurance plans.
Our group insurance program is designed to give employers
and affinity groups the opportunity to offer employees and
members value-added insurance options without the cost of
maintaining an additional benefit program. Over the past
year, we added 14 new organizations to this rapidly growing
program. We now provide group home and auto insurance
benefits to more than 50 groups across Canada.
Over the past year we made several changes to enhance client
experience and convenience by making greater use of online
tools and services.
In May, RBC Insurance launched online discounts on some
of its home and auto insurance products. Through this
program, residents of Ontario and Quebec who visit
www.rbcinsurance.com for an online, no-obligation quote
for their home or auto insurance are eligible to receive a
discount. The online discount applies to private passenger
automobiles, homes, condominiums and tenant properties.
Once clients have completed their online quote, they will
receive a reference number as well as the RBC Insurance
toll-free number, which they can call to speak with a licensed
insurance advisor and finalize their coverage. RBC Insurance
also expanded its online quoting and underwriting
capabilities for home and auto insurance. In June, we added
several new features, including the ability for customers to
view their policy and billing status, change billing information,
view policy documents and access our policy wordings library.
Additional functionality is currently being developed and is
expected to be launched in early 2006.
The August flooding in the Greater Toronto Area gave
RBC Insurance an opportunity to truly demonstrate to
customers that we are “First For You.” More than 400 property
and auto claims were reported and inspected within days of
the flood event. In the vast majority of cases, claims adjusters
were on the scene of the loss within 24 hours of receiving a
call from our clients.
Going forward, we will continue to focus on opportunities
for revenue growth and improve our position in key markets
by leveraging distribution economics and processes to create
a superior insurance experience for customers and distributors.
Property andcasualty
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Travel insurance
RBC Insurance is the leading provider of travel insurance
in Canada and the 2005 Travel Agents’ Choice for favourite
travel insurance provider in Canada. Our travel insurance
business provides a wide range of products and services,
including trip cancellation, interruption and emergency
assistance services, to clients in Canada and the U.S. These
products are distributed through a network of travel agencies,
as well as over the Internet and in Canada, through bank
channels and insurance brokers.
Over the past year, we continued to grow our Canadian
business and develop our U.S. operation by enhancing
product and service options to better meet the needs of
travellers, launching new technology solutions and expanding
our distribution capabilities.
From a product perspective, we introduced enhancements
to our line of TravelCare® products, which improve the
coverage we can provide to senior and snowbird clients.
These changes, which took effect in August 2005, allow more
individuals to protect themselves with affordable travel
insurance. New features of our TravelCare line of products
include: an enhanced medical questionnaire that provides
more travellers with increased protection through less restrictive
exclusions and conditions; a special underwriting process for
clients with pre-existing conditions; and enhanced case
management allowing us to extend coverage to more clients.
We will also increase our bank branch focus on Travel
HealthProtector®, a comprehensive health insurance
offering, by delivering branch sales tools and actively
promoting our new online application to clients. We will
also be promoting and supporting the launch of new travel
solutions for bank business clients.
Building our U.S. market presence was also a focus for 2005.
Early in the year, we signed preferred supplier agreements
with TRAVELSAVERS®1 and Vacation.com®2. As part of our
commitment to ensuring agents have the knowledge and
information they need to make insurance a key revenue source,
member agencies enjoy numerous benefits, including enhanced
technology processes and superior training and support.
Going forward, educating consumers and distributors about
the value of travel insurance coverage for a range of situations
will continue to be a priority. We also plan to continue to
grow our travel insurance business by exploring additional
distribution channels, growing and retaining existing accounts,
acquiring new strategic business and building our market
share in the U.S.
RBC Insurance reinsures risks to other insurance and reinsurance
companies in order to provide greater diversification, limit loss
exposure to large risks and provide additional capacity for future
growth. Our reinsurance business includes life retrocession, as
well as property, title, credit and financial products reinsurance.
Life retrocession
RBC Insurance continues to grow its life retrocession business.
We participate in the quota-share reinsurance deals and
excess reinsurance pools of most major North American and
European reinsurers by accepting a portion of reinsurance
risk on life insurance policies.
In 2005, our life retrocession business experienced significant
premium income growth as a result of our participation in large
quota-share deals. In addition, we improved our infrastructure
to better manage our operations and monitor the business
we assumed from our customers. These enhancements resulted
in improved accuracy of the assumed business and more
accurate retention management.
Going forward, we plan to expand our business by being
more proactive at sourcing life retrocession opportunities in
the European market. We will also continue researching new
product lines and identifying new growth opportunities in
other international markets.
Property reinsurance
RBC Insurance has a diverse property reinsurance portfolio,
which is based on reinsured risks for property policies issued
by insurers around the world. Our portfolio covers losses arising
from events such as earthquakes, hurricanes and industrial
fires, and is generated through brokers and reinsurers in the
U.K., Bermuda, Europe and the U.S.
The past year of devastating hurricanes have had a significant
impact on the industry. Going forward, we plan to reduce
our overall exposures to a level within our reduced risk limits.
Credit and financial products reinsurance
Our credit and financial products business underwrites non-
traditional credit, surety, and financial-based risk, primarily
in the European credit markets.
In 2005, RBC Insurance developed a title reinsurance portfolio
based on reinsured risks for title insurance policies issued in
the U.S. and U.K.
We will continue to research new product lines based on
conveyancing from title to real estate and other property.
We will also enhance our risk analysis models and
infrastructure in order to identify, grow and develop
opportunities internationally.
Over the past year, we have also spent considerable time
reviewing some of the key risk parameters in our business.
On the infrastructure side, in 2005, we added two staff members
in Ireland to better serve our European clients. In addition,
we continued to enhance our risk analysis models and we
are developing major enhancements to our capital model
that will significantly reduce its run time.
Looking ahead, we plan to take on selective business that fits
within our credit limits and return on capital requirements.
Reinsurance
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Creditor
RBC Insurance supports the creditor insurance products and
services for individual and business clients of RBC Royal Bank.
This includes life and disability insurance for mortgages,
loans and Visa* cards.
In 2005, we strengthened our leadership position in this
market. Key initiatives included enhancing existing creditor
insurance products to meet the needs of our home equity
financing clients, and improving distribution processes
through the expansion of our call centre staff. In 2006, we
will focus on increasing creditor awareness and sales
penetration through the addition of new performance
measurements and reporting, the introduction of product
innovations and enhancements, and simplifying processes
that make it easier for both customers and sales forces.
Travel assistance services
RBC Insurance, through Assured Assistance Inc. (AAI), is one
of North America’s leading providers of emergency travel and
medical assistance services. AAI provides 24/7 multilingual
travel assistance, medical case management, cost containment
and access to contracted medical providers around the world
for more than three million travellers annually.
In 2005, we continued to expand our medical case management
team as well as worldwide medical and transportation
provider network. We also refined and redesigned advanced
quality tracking and client outcome measurement tools,
and expanded our expertise and resources in claims cost
containment focusing on our U.S. and Caribbean claims.
Going forward, we will continue to grow our worldwide
medical provider and travel resource network, as well as our
medical case management tools and resources. We also plan
to enhance our claims applications to achieve and exceed
our claims cost management objectives and to facilitate our
clients’ access to quality medical providers.
Fee and relatedactivities
RBC Insurance is involved in a number of key insurance and related activities
that generate fee income for the organization, including creditor and travel
assistance services.
R B C I N S U R A N C E 1 51 4 2 0 0 5 C O R P O R AT E P R O F I L E
Royal Bank of Canada (TSX, NYSE: RY) uses the initials RBC
as a prefix for its businesses and operating subsidiaries, which
operate under the master brand name of RBC Financial Group.
We are Canada’s largest bank as measured by assets† and
market capitalization†, and one of North America’s leading
diversified financial services companies. We provide personal
and commercial banking, wealth management services,
insurance, corporate and investment banking and transaction
processing services on a global basis. Our corporate support
team enables business growth with expert professional
advice and state-of-the-art processes.
In Canada, we have strong market positions in all of our
businesses. In personal and business banking, we rank first
or second in most retail products. In wealth management,
we have the leading full-service brokerage operation (by
assets), the top mutual fund provider among Canadian banks
and the second-largest self-directed broker (by assets). We
are the largest Canadian bank-owned insurer, one of the top
10 Canadian life insurance producers, and a leader in travel
insurance, creditor products and individual disability insurance.
In corporate and investment banking, we continue to be the
top-ranked securities underwriter and the leading mergers and
acquisitions advisor. We also have by far the largest Canadian
custody operations (by assets under administration). Our
domestic delivery network includes 1,104 branches and
3,906 banking machines, 437 investment retirement planners,
1,063 financial planners, 371 insurance agents and 975
mortgage specialists. Currently, we have 3.5 million online
and 2.5 million telephone clients.
In the U.S., we provide personal and commercial banking,
insurance, full-service brokerage, and corporate and investment
banking services to about 1.5 million clients through
RBC Centura, RBC Builder Finance, RBC Insurance, RBC Liberty
Insurance, RBC Dain Rauscher and RBC Capital Markets.
Outside North America, we have a banking network in the
Caribbean and a presence in niche markets. In Europe, South
America and the Middle East, we provide private banking,
international estate planning and wealth management services
tailored for high-net-worth individuals, sophisticated investors,
and corporate and institutional clients. We also offer investment
banking, trading, capital markets, reinsurance, securities
custody and trade finance to corporate, institutional and
business clients.
In the Asia-Pacific region and Australia, we provide corporate
and investment banking, trade finance, correspondent banking,
treasury and securities custody services to corporate clients,
reinsurance to institutional and business clients, and private
banking services to individual clients.
† Measured as at October 31, 2005
RBC overview
We employ approximately 60,000 people who serve more than 14 million personal,
business and public sector clients through offices in North America and some
30 countries around the world.
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CANADA
CANADIAN HEAD OFFICE
6880 Financial Dr., Tower 1, Mississauga, ON L5N 7Y5T (905) 949-3663 F (905) 813-4853
RBC INSURANCE BRANCHES
1227 Barton St. E., Hamilton, ON L8H 2V4T (905) 548-5790 F (905) 548-5401
65 Princess St., Unit 2, Kingston, ON K7L 1A6T (613) 549-7300 F (613) 549-7655
1571 Sandhurst Circle, Scarborough, ON M1V 1V2T (416) 292-6466 F (416) 292-6490
3535, boul. St. Charles, Kirkland, QC H9H 5B9T (514) 630-1908 F (514) 630-5001
LIFE AND HEALTH OFFICES
10655 Southport Rd. S.W., Suite 600, Calgary, AB T2W 4Y1T (403) 271-3939 F (403) 271-2274
10117 Jasper Ave., Suite 610, Edmonton, AB T5J 1W8T (780) 423-0066 F (780) 428-1925
1055 W. Georgia St., Suite 900, Box 11126, Vancouver, BC V6E 3P3T (604) 689-1738 F (604) 683-3320
220 Portage Ave., Suite 1206, Winnipeg, MB R3C 0A1T (204) 985-9497 F (204) 944-8855
5161 George St., 12th Floor, Halifax, NS B3J 1M7T (902) 492-3444 F (902) 492-2171
1122 International Blvd., Burlington, ON L7R 4C1T (905) 319-9501 F (905) 319-89490
30 Duke St. W., 8th Floor, Kitchener, ON N2H 3W5T (519) 579-4770 F (519) 579-4787
380 Wellington St., Suite 205, London, ON N6A 5B5T (519) 679-9590 F (519) 945-4383
90 Sparks St., Mezzanine Level, Ottawa, ON K1P 5T6T (613) 564-2040 F (613) 564-2017
9 Antares Dr., Suite 233, Nepean, ON K2E 7VST (613) 224-8322 F (613) 224-1321
30 Adelaide St. E., Suite 600, Toronto, ON M5C 3G8T (416) 594-3700 F (416) 861-0897
245 Ouellette Ave., Windsor, ON N9A 7J2T (519) 945-0189 F (519) 945-4383
1100, boul. René-Lévesque O., bur 710, Montreal, QC H3B 4N4 T (514) 954-1205 F (514) 954-1206
1000, route de L’Église, bur 690, Ste-Foy, QC G1V 3V9 T (418) 623-7285 F (418) 623-9608
135-21 St. E., Ste 201, Saskatoon, SK S7K 0B4 T (306) 933-3222 F (306) 665-1106
CAREER SALES OFFICES
10303 Jasper Ave., Suite 2050, Edmonton, AB T5J 3N6T (780) 944-8774 F (780) 944-8795
10655 Southport Rd. S.W., Suite 600, Calgary, AB T2W 4Y1T (403) 271-4422 F (403) 278-3774
3960 Quadra St., Suite 507, Victoria, BC V8X 4A3T (250) 953-2300 F (250) 881-7497
2985 Virtual Way, Suite 301, Vancouver, BC V5M 4X7T (604) 718-4300 F (604) 718-4375
20434 64th Ave., Langley, BC V2Y 1N4T (604) 532-2650 F (604) 532-2656
220 Portage Ave., Suite 1305, Winnipeg, MB R3C 0A5T (204) 953-0500 F (204) 947-2733
525 Main St., Moncton, NB E1C 1C4T (506) 857-8025 F (506) 853-7939
6880 Financial Dr., Tower 1, 2nd Floor, Mississauga, ON L5N 7Y5T (905) 858-8890 F (905) 858-5860
3027 Harvester Rd., Suite 502, Burlington, ON L7N 3G7T (905) 631-7550 F (905) 631-8705
3300 Highway #7, Suite 320, Concord, ON L4K 4M3T (905) 760-8060 F (905) 760-7701
2075 Kennedy Rd., Suite 600, Scarborough, ON M1T 3V3T (416) 289-5661 F (416) 289-4177
383 Richmond St., Suite 801, London, ON N6A 3C4T (519) 645-6840 F (519) 642-1421
111 Grangeway Ave., Suite 400, Scarborough, ON M1H 3E9T (416) 289-8779 F (416) 289-7120
40 Hines Rd., Suite 400, Kanata, ON K2K 2M5T (613) 592-8007 F (613) 592-8077
9900 Cavendish Blvd., Suite 310, St. Laurent, QC H4M 1E3T (514) 856-8666 F (514) 856-8699
3100 Le Carrefour Blvd., Suite 115, Laval, QC H7T 2K7T (450) 686-4299 F (450) 686-4644
1260 Lebourgneuf Blvd., Suite 200, Quebec City, QC G2K 2G2T (418) 654-1222 F (418) 654-2036
2010 11th Ave., Suite 500, Regina, SK S4P 0J3T (306) 569-7666 F (306) 569-7733
HOME AND AUTO OFFICES
10303 Jasper Ave., Suite 2050, Edmonton, AB T5J 3N6T (866) 715-3757 F (866) 804-2228
10655 Southport Rd. S.W., Suite 600, Calgary, AB T2W 4Y1T (866) 715-3757 F (866) 804-2228
111 Grangeway Ave., Suite 406, Scarborough, ON M1H 3E9T (888) 269-2515 F (905) 813-4791
1 Place Ville Marie, Suite 1300, East Wing, Montreal, QC H3C 2S1T (800) 769-2526 F (514) 384-5088
TRAVEL OFFICES
10655 Southport Rd., S.W., Suite 600, Calgary, AB T2W 4Y1T (403) 271-0504 F (403) 271-8168
2985 Virtual Way, Suite 300, Vancouver, BC V5M 4X7T (604) 718-6700 F (604) 718-6752
1 Place Ville Marie, 13th Floor, South Wing, Montreal, QC H3C 3A9T (514) 748-1457 F (514) 748-2588
UNITED STATES
U.S. HEAD OFFICE
2000 Wade Hampton Blvd., P.O. Box 1389, Greenville, SC 29602T (864) 609-3600 F (864) 609-4100
LIFE AND HEALTH OFFICES
2 Pershing Square, 2300 Main St., Suite 450, Kansas City, MO 64108T (816) 218-6500 F (816) 218-6611
AGENCY SALES OFFICES
Baton Rouge
10755 Linkwood Ct., Baton Rouge, LA 70810T (225) 766-1116 F (225) 766-1154
Charleston
885 Island Park Dr., Suite 102, Charleston, SC 29492T (843) 856-2257 F (843) 856-3589
Charlotte
13860 Ballantyne Corporate Place, Suite 175, Charlotte, NC 28277T (704) 540-2663 F (704) 540-2824
Columbia
4406 — A Forest Dr., Suite 3, Columbia, SC 29206T (803) 743-0071 F (803) 743-0880
Florence
1557 West Palmetto St., Florence, SC 29501T (843) 662-3632 F (843) 665-7633
Greensboro
4035 Premier Dr., Suite 110, High Point, NC 27265T (336) 882-6080 F (336) 882-6099
Greenville
620 Congaree Rd., Suite D, Greenville, SC 29607T (864) 281-0684 F (864) 281-0539
Lake Charles
1415 West Prien Lake Rd., Lake Charles, LA 70601T (337) 474-0488 F (337) 474-7504
Lexington
1510 Newtown Pike, Suite 152, Lexington, KY 40511
T (859) 255-7959 F (859) 253-3124
Myrtle Beach
2024 Corporate Centre Dr., Suite 303, Myrtle Beach, SC 29577
T (843) 626-6252 F (843) 626-6274
Raleigh
Highwoods Tower One, 3200 Beechleaf Ct., Suite 210, Raleigh, NC 27604
T (919) 878-0440 F (919) 878-0442
Spartanburg
Oak Forest Shopping Center, 2401 Reidville Rd., Suite 7
Spartanburg, SC 29301
T (864) 587-6570 F (864) 587-6575
TRAVEL OFFICES
2000 Wade Hampton Blvd., Greenville, SC 29615
T (864) 609-3030 F (864) 609-3737
INTERNATIONAL
REINSURANCE OFFICES
1st Floor, Suite 5, The Mall, Beacon Court, Sandyford
Dublin 18, Ireland
T (353) 1-293-7120 F (353) 1-293-7130
Chelston Park, 1st Floor, Building #1, Collymore Rock
P.O. Box 1335
St. Michael, Barbados, West Indies
T (246) 228-7544 F (246) 228-7553
RBC Insurance locations Directors
PETER R.P. EVELYN > Attorney-at-LawPeter Evelyn & Co., Bridgetown, BarbadosRoyal Bank of Canada Insurance Company Ltd.
JOHN LARKIN > PartnerWilliam Fry, Solicitors, Dublin, IrelandRBC Reinsurance (Ireland) Limited
PETER B. PATTERSON > Business DirectorWycliffe College, Toronto, OntarioRBC Life Insurance CompanyRBC Travel Insurance CompanyRBC General Insurance Company
JOHN E. PELLER > President & CEOAndrés Wines Ltd., Winona, OntarioRBC Life Insurance CompanyRBC Travel Insurance CompanyRBC General Insurance Company
WILLIAM M. TOMLIN > President/DirectorCGM Insurance Brokers, Bridgetown, BarbadosRoyal Bank of Canada Insurance Company Ltd.
JOHN F. T. WARREN > Regional Managing Partner Borden Ladner Gervais, LLP, Toronto, OntarioRBC Life Insurance CompanyRBC Travel Insurance CompanyRBC General Insurance Company
CHARLES D. WHELLY, Q.C. > Barrister and SolicitorPatterson Palmer, Saint John, New BrunswickRBC Life Insurance CompanyRBC Travel Insurance CompanyRBC General Insurance Company
This list does not include RBC Financial Group officers who sit on any of our boards of directors.
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All used by permission.
* Registered trademark of Visa International Service Association. Used under license.
82040 (04/2006)
www.rbcinsurance.com
For more information, contact RBC Insurance toll-free at 1-888-526-2056.
RBC INSURANCE
6880 FINANCIAL DRIVE, TOWER 1
MISSISSAUGA, ONTARIO
L5N 7Y5
CANADA
17383_RBCI 05 Corporate profile ENG 4/11/06 9:41 AM Page 1
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