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TORONTO, July 1, 2026 - FIRST Insurance Funding of Canada (FIRST Canada), the industry leader in payment solutions, today announced Stuart Bruce, CPA, CA, will step down from his role as Chief Executive Officer, effective June 30, 2026, as part of a planned leadership transition.
David Caringi, Chief Sales Officer, will replace Stuart as CEO on July 1, 2026. Additionally, Jamie Ugarte is named Chief Operating Officer, effective July 1.
Following a distinguished leadership tenure that helped establish the company as Canada's market leader in premium financing and payment solutions, Mr. Bruce’s more than 26 years in the Canadian insurance payments industry has been filled with industry milestones. During his tenure at FIRST Canada, Mr. Bruce led the organization to record operational growth, cultivated an award-winning workplace culture, and pioneered industry-first payment technologies. Mr. Bruce has built a strong team with deep industry knowledge and an effective leadership team, well positioned to continue to carry the business forward.
"I'm very proud of everything we’ve accomplished together," said Mr. Bruce." I'm proud to have been a part of this amazing team and grateful for the relationships I've built over the years. I'm leaving the business in great hands, and I look forward to seeing all what the future holds."
Mr. Caringi brings more than 23 years of insurance industry experience, including over 13 years alongside FIRST Canada’s deeply established executive team. As Chief Sales Officer, he has been central to shaping the company’s growth strategy, strengthening key partner relationships, and advancing its position as the market leader. In his role as Chief Executive Officer, Mr. Caringi will continue to advance the company's strong market position and progress its commitment to our long-term partners.
"Stuart's leadership has been instrumental in shaping FIRST Insurance Funding of Canada into the organization it is today," said Mr. Caringi. "On behalf of the Board and the entire organization, we thank Stuart for his tremendous contributions and wish him all the best. I look forward to working alongside our team, customers, and partners as we continue to deliver industry-leading solutions and pursue new opportunities for growth and innovation."
Jamie Ugarte has been in the premium finance industry for over 15 years with experience including sales and account management and is a Certified Project Manager. Ms. Ugarte has been a member of the FIRST Canada Executive team for 8 years, and manages the technical development, delivery, and implementation of FIRST Canada’s technical solutions. Ms. Ugarte is named Chief Operating Officer, effective July 1, 2026. In her role as Chief Operating Officer, Ms. Ugarte will lead the continued evolution of key strategic initiatives while ensuring the day-to-day operations, systems and infrastructure, and product delivery scale alongside its continued growth.
About FIRST Insurance Funding of Canada
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 their partners to meet the demanding future of the Canadian Insurance landscape. FIRST Canada’s easy-to-implement APIs integrate all payment methods into your workflow, app, website, or portal to increase your efficiency. FIRST Canada is a subsidiary of Wintrust Financial (Nasdaq: WTFC). Follow FIRST Canada on LinkedIn and X. For more information, please visit firstinsurancefunding.ca.
For more information, please contact:
Crystal Macklin
SVP Marketing & Communications
FIRST Insurance Funding of Canada
crystal.macklin@firstinsurancefunding.ca
647 308 4944
