A series of strategy, governance and community-impact developments at Co-operators' 2026 annual general meeting (AGM) in Montreal underscored how the Canadian cooperative is positioning itself for climate and economic headwinds while advancing a purpose-led growth agenda.
Held April 8 to 10, the AGM was used to take stock of the final year of Co-operators' current four-year corporate strategy. Delegates reviewed progress across several pillars, including financial resilience, digital transformation, sustainability and community partnerships aimed at bolstering economic and climate resilience.
President and CEO Rob Wesseling told delegates that the organization’s cooperative values are actively shaping strategic decisions, particularly as global tensions, economic uncertainty, and climate-related risks intensify.
“The work we choose to do, as a company, is something we can control. The way we can make a difference. The way we can deliver on our purpose: financial security for Canadians and our communities,” Wesseling said.
On the financial front, Co-operators’ main property and casualty arm has seen a marked turnaround. The group’s 2025 profit nearly tripled on the back of improved underwriting and fewer major event losses, generating a return on equity estimated at about 23% and a combined ratio below 95% (excluding discounting and risk adjustment). Those metrics place the insurer toward the stronger end of Canadian P&C performance in a period still characterized by inflation, elevated weather losses, and higher reinsurance costs.
Chief Financial Officer Karen Higgins used her address to reinforce the link between that financial strength and Co-operators’ broader objectives.
“Advancing our purpose requires a disciplined approach to capital management to ensure we meet our commitments to Canadians and their communities. By maintaining a robust capital base, we can invest in and advocate for a sustainable, resilient society – demonstrating that financial performance and positive social and environmental impact go hand in hand,” she said.
Strategically, Co-operators is also ramping up its climate-related investment targets. The group has set a goal to grow its climate solutions portfolio to US$3 billion by 2030, up from US$2 billion in 2024, and is aiming to have 50% of assets in impact or climate transition investments by 2026, rising to 60% by 2030. Management has indicated that roughly a fifth of assets are already deployed in climate solutions and more than half are in impact or net-zero-aligned holdings, arguing that this approach both mitigates systemic climate risk and has outperformed conventional benchmarks.
Governance and collaboration within the cooperative sector were another focus of the meeting. Leadership framed strong board oversight and member engagement as critical to sustaining Co-operators’ role in supporting community resilience.
Board Chair Robert Moreau stressed that the cooperative’s values are intended to be operational rather than symbolic.
“As a co-operative, our identity comes to life through our values of responsibility, integrity, and inclusion – principles that guide how we serve, how we lead, and how we contribute meaningfully to a more resilient and sustainable society. They are more than words – they shape how we act, how we decide, and how we come together as a co-operative … it is our commitment to these values that underpins our approach to operations, strategy, and governance,” Moreau said.
Delegates also approved changes at the board table. Alberta director Jim Laverick retired, and Alberta-based representative Terry Gunter was elected to the board. The shift reflects Co-operators’ member-owned governance structure, under which directors are drawn from a base that includes cooperatives, credit union centrals, and farm organizations rather than individual shareholders.
The board discussions placed Co-operators’ role within a wider Canadian cooperative ecosystem that numbers thousands of non-financial co-ops nationwide. Executives pointed to generally positive public perceptions of cooperatives as an opportunity to differentiate on trust, local engagement, and long-term orientation in a competitive financial services market.
The AGM also spotlighted Co-operators’ community investment priorities, with particular emphasis on youth employment and social inclusion.
Montreal-based social enterprise Bois Urbain was recognized as one of Co-operators Community Funds grant recipients. Founded in 1994, Bois Urbain supports the social and professional integration of people who are underserved in the labor market, especially young people. Through its woodworking operations, the organization offers a paid 26-week on-site training program covering cabinet-making, furniture finishing, handling and maintenance, and reception or customer service roles.
“Bois Urbain is a forward-looking social enterprise making meaningful impacts in the lives of clients, thanks in part to organizations like Co-operators. We are honored and grateful for the trust placed in us through Co-operators Community Funds. This support enables us to expand our services and serve a wider range of clients, including youth with mental health challenges, who have been excluded from the job market,” said Natalia Cojocaru, chief executive officer of Bois Urbain.
