Steve Phillips
Steve Phillips

Steve is the EVP, Head of Sovereign Insurance as well EVP of Emerging Business Models (EBM) and Adjacency Business Models (ABM) within Co-operators group of companies. 

With over 25 years as a leader in the financial services sector, Steve has been part of the industry’s evolution in Canada. He started off at IBM, partnering with banks to build infrastructure before moving to TD Bank to lead innovative customer solutions (including debit payments, the launch of chip cards, online payments and wireless payment terminals). Then, in 2002, Steve took the helm of the Canadian P&C and Life Insurance business of global insurer, Assurant Solutions. With Steve’s direction, the team secured a market leading position in Canada and expanded into Europe. Steve then transitioned to lead global strategy and innovation at Assurant before branching off on his own to start a strategic consulting firm. 

Throughout his career, Steve has always gravitated to roles and projects that build and nurture strategic alliances to deliver innovative solutions that customers value – making him a natural fit as Sovereign’s leader when he first joined in 2017.

Since joining, Steve has demonstrated a fascination for understanding what motivates employees, partners and clients, and a passion for supporting and enabling them all to thrive.

In 2022, Steve expanded his responsibilities as EVP, Head of Sovereign Insurance & Emerging Business Models (EBM) at Co-operators to include Adjacency Business Models (ABM). While in this role he maintains executive oversight for Sovereign but is focusing on the broadened innovation portfolio that continues to evaluate emerging shifts and changes within the insurance space. Steve is also establishing new adjacency business models that work alongside and complement Co-operators existing core business across the group of companies through acquisitions, partnering with Corporate Development, and strategic alliances.

Outside the office, Steve enjoys competitive sailing and skiing with his wife Andrea and their four children. 

And if you’re curious, Steve’s credentials extend far beyond his experience: he attained a MBA, Marketing & Finance from the Richard Ivey School of Business and a BA (Hons) Economics from University of Western Ontario. He also holds a Director’s Education Program (ICD.D) designation from the Rotman School of Management/Institute of Corporate Directors. 

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