Headquarters:
20 Toronto Street, Suite 700 Toronto, Ontario M5C 2B8
Year founded:
1862
Number of employees:
1,900
Phone:
1 888 232 2238
Email:
clientservices@firstinsurancefunding.ca
Website:
firstinsurancefunding.ca
LinkedIn:
https://www.linkedin.com/company/first-insurance-funding-of-canada/
Stuart Bruce, CPA, CA
Chairman, Chief Executive Officer
David Caringi
Chief Sales Officer
Jamie Ugarte, PMP
Senior Vice President, Business Solutions
Leadership
Stuart Bruce has spent over 20 years in the premium finance marketplace in Canada. He founded Insurance Pay Canada in 2001 (now FIRST Insurance Funding of Canada) and successfully built the finance management system, team, and broker network from startup to one of the largest premium finance companies in Canada. In 2007, after Insurance Pay was sold to an Australian-based investment bank, Stuart founded Policy Billing Services and was appointed CEO of FIRST Canada after the merger of Policy Bill and FIRST Canada in April 2014. Stuart is a CPA chartered accountant and holds an honours business administration degree from the Richard Ivey School of Business, University of Western Ontario.
Chairman, Chief Executive Officer
Stuart Bruce, CPA, CA
David Caringi has been working in the premium finance industry for over 20 years. In his role as Chief Sales Officer, David is responsible for overseeing the overall sales strategy and building key relationships with valued partners across the country. In 2002, David joined Insurance Pay as a Business Development Manager. David was an original partner in the launch and success of the company, contributing a major role in sales and marketing. In 2010, David was a partner in the launch and growth of a specialized premium finance service company (Policy Bill), which ultimately merged with First Insurance Funding in 2014.
Chief Sales Officer
David Caringi
Jamie Ugarte has been in the premium finance industry for over 10 years, with experience in various roles including account and project management. As the VP Business Solutions, Jamie manages a team of technical and project management specialists and oversees the development, delivery, and implementation of FIRST Canada’s technical solutions to our insurance partners. Jamie is a certified project management professional with a BA in political science from the University of Western Ontario.
Senior Vice President, Business Solutions
Jamie Ugarte, PMP
Jonathan Hoey
Chief Underwriting Officer
Jonathan Hoey, chief underwriting officer, brings over 20 years of insurance leadership to Western Financial Group. He leads underwriting and claims strategy, optimizing carrier partnerships and empowering high-performing teams. Hoey is recognized for his collaborative, integrity-driven leadership and has expanded Western’s delegated authority and specialty program capabilities, driving strategic growth and strengthening the company’s competitive edge across Canada.
Chief Underwriting Officer
Jonathan Hoey
Nicky Skinner
Business Development Manager
Nicky Skinner, based in Christchurch, was honoured as NZ Adviser’s BDM of the Year. With over 20 years of banking experience – including roles as bank manager, private banker and senior lender – she brings deep expertise to her work. Skinner supports mortgage advisers with product knowledge and deal presentation skills, focusing on building strong, trusted relationships. Her collaborative approach and dedication make her a valued resource, consistently praised for her guidance and support in helping advisers achieve outstanding client outcomes.
Business Development Manager
Nicky Skinner
Sarah Radonich
Third Party Support Manager
Steph Leeson
Business Development Manager
Margaret Leau-Sulusi
Business Development Manager
Pam Chhabra
Manager – Residential Strata
Sarah Radonich is a third party support manager (relief BDM) at Westpac, building strong relationships with mortgage advisers across New Zealand. With 15 years of banking experience, she supports a wide range of regions and communities, working alongside a team of experienced BDMs. Radonich is known for her responsiveness, collaboration and focus on delivering efficient, results-driven experiences for advisers and their clients, always striving for the best possible outcomes.
Third Party Support Manager
Sarah Radonich
Steph Leeson immigrated from the UK 14 years ago and began her Westpac career as a specialist lender. Now a business development manager, she supports mortgage advisers across Auckland and Northland, offering expert guidance and support. Leeson is highly regarded for her lending knowledge, responsiveness and collaborative approach. Her dedication was recognised nationally as a finalist for the 2025 NZ Adviser BDM of the Year award, reflecting her impact within the third party channel.
Business Development Manager
Steph Leeson
Margaret Leau-Sulusi brings over 20 years of banking experience to her role as business development manager, having started with Westpac in 2005. Her background includes lending support, senior lending roles and branch management. Leau-Sulusi partners closely with mortgage advisers, providing product expertise and strategic guidance to drive strong client outcomes. Known for her collaborative style and responsiveness, she is passionate about building trusted relationships and delivering customer-focused results.
Business Development Manager
Margaret Leau-Sulusi
Stephen McMillan first entered the financial services Industry when he joined GE Capital as a finance analyst in 2008, from which he progressed through roles working both onshore and offshore. From there, he moved into Pacific Premium Funding as a financial planning and analysis leader in 2012 and was a key resource in the evolution of the business, first with the successful sale to Macquarie Pacific Funding and then the following progression into IQumulate Premium Funding, where he is now the commercial manager.
As commercial manager, McMillan leads a team that is responsible for commercial analysis and business support, identifying and reporting improvement initiatives, and the securitization and treasury functions of the business.
Commercial Manager
Stephen McMillan
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Manager – Claims
Stephen McMillan first entered the financial services Industry when he joined GE Capital as a finance analyst in 2008, from which he progressed through roles working both onshore and offshore. From there, he moved into Pacific Premium Funding as a financial planning and analysis leader in 2012 and was a key resource in the evolution of the business, first with the successful sale to Macquarie Pacific Funding and then the following progression into IQumulate Premium Funding, where he is now the commercial manager.
As commercial manager, McMillan leads a team that is responsible for commercial analysis and business support, identifying and reporting improvement initiatives, and the securitization and treasury functions of the business.
Product Manager
Claire Watson
Stephen McMillan first entered the financial services Industry when he joined GE Capital as a finance analyst in 2008, from which he progressed through roles working both onshore and offshore. From there, he moved into Pacific Premium Funding as a financial planning and analysis leader in 2012 and was a key resource in the evolution of the business, first with the successful sale to Macquarie Pacific Funding and then the following progression into IQumulate Premium Funding, where he is now the commercial manager.
As commercial manager, McMillan leads a team that is responsible for commercial analysis and business support, identifying and reporting improvement initiatives, and the securitization and treasury functions of the business.
Commercial Manager
Stephen McMillan
“We also maintain open lines of communication with advisers so they know what to expect and can plan accordingly”
Hayley Burgess, ANZ Bank New Zealand
“We’ve invested heavily in resourcing and process improvements to reduce friction and speed up approvals”
Hayley Burgess, ANZ Bank New Zealand
FIRST Insurance Funding of Canada (FIRST Canada) provides the Canadian insurance market with comprehensive payment solutions. Brokers, MGAs, and carriers can partner with FIRST Canada and expand their offering to provide more value, choice, and convenience for all their clients. The combined strength of FIRST Canada’s dedicated team, evolved offering, and innovative platform positions its partners to meet the demanding future of the Canadian insurance landscape armed with market-leading solutions for success. FIRST Canada is part of Wintrust (Nasdaq: WTFC), a financial services company with more than $69 billion in assets and a part of the largest premium finance companies in North America. Follow FIRST Canada on LinkedIn and X. For more about the company, visit firstinsurancefunding.ca
IQumulate invests in education and people, which are vital to attracting new business and talent to the company.
“We have long tenures for several of our key staff, including some in leadership positions, and this sound working knowledge of our business, practices and industry provides great insights and a wealth of experience to offer our clients,” says Bastow. “Our new head of sales, Graeme Gordon, formerly manager for New Zealand, joins us in Australia to drive our sales strategy and lead our team to successful outcomes for our clients and our business. We look forward to great things ahead with Graeme as he continues to be active and present in the New Zealand market as well as building sound working relationships and new connections in Australia.”
Clients can also expect a lot from working with IQumulate.
“Through active engagement with our trusted broker network, IQumulate provides relevant information, education and training content,” says Graeme Gordon, head of sales. “Our clients can expect IQumulate to support their business in several ways, providing an understanding of what premium funding solutions are available and how IQumulate can spread the cost of insurance and help borrowers get the right level of insurance cover to free up their cash flow for other expenses or business growth opportunities. Premium funding is often considered a tool for those who simply cannot afford to pay their premiums in full. While this is certainly a significant driver for many, it is also successfully used by profitable companies who use premium funding to manage their cash flows more wisely or better manage their liquidity.”
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