Insurance Brokers M&A » By The Online Investor Staff, updated Fri., Apr. 19, 2:08 PM
Recent mergers and acquisitions in the Insurance Brokers M&A category.
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Slide #17. EGI Financial Holdings Inc. — SGI CANADA's Ownership in the Insurance Company of Prince Edward Island
Acquirer:
EGI Financial Holdings Inc. (EFH.CA)
Acquiree:
SGI CANADA's Ownership in the Insurance Company of Prince Edward Island
Details:
EGI Financial Holdings Inc. ("EGI") (TSX: EFH) today announced that it has entered into a definitive agreement with SGI CANADA ("SGI") to acquire SGI's share of the Insurance Company of Prince Edward Island ("ICPEI"). ICPEI is the largest Maritimes-based property and casualty insurance company in Canada operating through independent brokers in Prince Edward Island, New Brunswick and Nova Scotia.
EFH Holdings is a holding company. Through its subsidiaries, Co. is engaged in the property and casualty insurance industry in Canada and the United States. Co. operates through The Personal Lines, Niche Products and the International division. Through its Personal Lines division, Co. is engaged primarily in the underwriting of high premium, non-standard automobile insurance. Through its Niche Products division, Co. designs and underwrites specialized non-auto insurance programs, such as higher premium property, primary and excess liability, legal expense, accident and health insurance and warranty coverage.
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