I call this meeting to order. Could I have our colleagues' and guests' attention, please?
Thank you.
This is the 55th meeting of the Standing Committee on Finance, our orders of the day pursuant to Standing Order 108(2) being a briefing for the committee on demutualization.
I want to thank our witnesses for joining us here today at this meeting.
First of all, we have officials from the Department of Finance. We have Mr. Jeremy Rudin, ADM, financial sector policy branch. Thank you, Mr. Rudin. We're seeing you twice in two days. Thank you so much for being with us.
We have Mr. James Wu, chief, financial institutions division, financial sector policy branch.
We have Michèle Legault, senior project leader, financial institutions division, also from the financial sector policy branch.
We have the president of the Canadian Association of Mutual Insurance Companies, Mr. Normand Lafrenière.
Welcome, Mr. Lafrenière.
We have, from the Economical Insurance Group, Ms. Karen Gavan. Welcome to you as well.
We have, from Kings Mutual Insurance Company, the president and CEO, Mr. Dan Lister.
We'll start with officials from the Department of Finance and we'll work our way down the table. Then we'll have questions from all of the members.
We'll start with Mr. Rudin, for your presentation, please.