PURE expands to Canada offering coverage for high-net-worth homeowners

PURE Insurance, a US-based property and casualty insurer, is expanding into Canada with a new office in Toronto that will begin offering its unique reciprocal model to high-net-worth homeowners in Ontario.

PURE will provide coverage for affluent homeowners with properties valued at over $2 million.

This expansion gives insurance brokers and affluent homeowners in Canada an additional option, which may be particularly appealing to those with second homes in the U.S.

Chris Sevdalis, Head of PURE’s Canada branch, said, “We aim to offer owners of Canada’s finest homes a new insurance option, building long-term relationships to make them safer, smarter and more resilient.”

He added, “PURE’s unique model, which puts members first instead of shareholders, leads us to build a very different service experience, and we’re excited to introduce our fresh approach to high net worth Canadians.”

As a reciprocal insurer, PURE is owned by its policyholders, who are also known as members. This member-owned model ensures that PURE charges fair prices and provides exceptional solutions and service to members. Members also benefit from annual contributions to their Subscriber Savings Accounts.

Martin Leitch, CEO of PURE Insurance, noted, “PURE is new to Canada, but we’ve been serving high net worth members in the U.S. for almost 20 years.”

“With this expansion, we are able to offer coverage solutions to existing Canadian PURE members who have trusted us to protect their U.S. interests and to reach new members who have not yet experienced what it means to be a PURE member,” Leitch concluded.

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