Western Investment to buy 50 pct of P&C insurance business
Western Investment Co of Canada has agreed to acquire a 50 percent interest in an undisclosed property and casualty (P&C) insurance provider based in Western Canada. Western, a Canadian private equity firm, agreed to pay about $2 million or 90 percent of book value as of the closing, which is expected to occur in April 2019. Western President and CEO Scott Tannas said the deal will mark the investor's entry into Western Canada's insurance industry. The insurance company's growth plan will include partnerships with a number of brokers in the region to identify new product niches and participate in existing programs.
20 December 2018•2 mins read
