While most entrepreneurial stories begin with an entrepreneur chasing an idea, William J. Sutton & Co. Ltd. was founded by an idea chasing the appropriate person, a person that was transformed, somewhat reluctantly, into an entrepreneur.

Bill Sutton grew up in Brampton, Ontario, and during those long, winter hikes to the rink, hockey equipment swung over his back, he never imagined that his occupation would one day bring him face to face with the biggest names in the world of professional sports. His first order of business was education and Sutton achieved his accounting designation the old way, working in the field of accounting and auditing, while earning his Chartered Accountant requirements at night via correspondence. After various jobs in accounting and sales, Sutton eventually joined the firm of Ernst & Whinney in their management consulting practice, where he spent most of his pre-insurance career.
 

President Bill Sutton, left, with Darryl  Sittler, a popular former captain of the Toronto Maple Leafs hockey team. Sittler, an early client of Sutton & Co. while a player, is now a senior executive with the Maple Leafs, which, in 1978, became the very first client of the firm and continues to be to this day.

It was in 1974 that Sutton first entered the insurance business, intrigued by a company’s involvement in sports accident insurance. This provided exposure to the industry’s Special Risk classes, as well as the arena of professional athletics. Further, with the primary market for these coverages being Lloyd’s of London and the company’s significant operations in both Canada and United States, the firm had an appealing international focus.

When Sutton’s relationship between the owner of that business changed in 1978, Sutton was sought out by the London contacts he had known, who, appreciating his contributions to the field and his integrity, encouraged him to establish his own business. He understood from the beginning that two fundamental qualities were required for success in this fast-paced segment of the insurance business: an unshakable commitment to superior client service; and, a continuing, unquestionable integrity in working with both clients and the supporting underwriters in London. Based on these two cornerstones, the business grew from two employees and $700,000 in sales in 1978, to over 40 employees, in three different companies, with combined revenues in excess of $50 million in 1995.

William J. Sutton & Co. Ltd. was established as a Managing General Underwriter, providing various specialty Accident & Health products on behalf of supporting underwriters, primarily at Lloyd’s. The firm’s emphasis was on delivering the flexibility and capacity of the large insurance market at Lloyd’s, through a small but highly technical and service conscious owner-managed company, to insurance agents and brokers throughout North America. Recently, Sutton’s supporting underwriters have expanded to include leading Canadian life insurers.

It was Sutton & Co.’s experience in markets outside Canada that led Bill Sutton to the observation that the Canadian Life Insurance industry is held in particularly high regard. This reputation for outstanding management and fairness, as reflected by Sutton & Co., resulted in the establishment of the Canadian Accident Reinsurance Facility, CARF, managed by a new company, Tri-Can Reinsurance Inc., founded by Sutton in 1986 as a joint venture with the principals of a similar company, Reinsurance Management Services in Wayne, New Jersey. As an extension of the Sutton & Co. capability in specialty accident products, Tri-Can provides reinsurance coverage to international insurers wishing to reduce their exposure to catastrophic loss. To take advantage of growing international opportunities outside North America, Tri-Can launched a second office in 1995, based in Hamilton, Bermuda.

The success of both Sutton & Co. and the two units of Tri-Can bear out Bill Sutton’s belief that Canadians are very highly regarded worldwide, and specifically, well-thought-of in the insurance world. The Canadian reputation for integrity and fair dealings, combined with the strength and conservative nature of their Life Insurance companies, have been significant factors in the success of all three companies.