Practical Concepts For Sensible Life Insurance Companies Tactics

Western Financial was a publicly listed company for 15 years until the acquisition. Economical Mutual Insurance Co this month bought Desjardins Group’s pet insurance business, Western Financial Insurance Co, which was part of Western Financial Group. British insurer Aviva plc's ( AV.L ) Canadian division last year acquired the general insurance division of lender Royal Bank of Canada ( RY.TO ) for C$582 million ($443.06 million). Desjardins, which snapped up State Farm Canada's businesses in property and casualty and life insurance in 2015, is now one of the biggest property and casualty insurers in Canada. Canadian property and casualty insurer Intact Financial Corp ( IFC.TO ), Aviva and U.S. insurer Travelers Cos Inc ( TRV.N ) are among those that may be interested in Western Financial Group, the sources said. Intact, Aviva and Travelers Cos did not immediately respond to requests for comment. Insurance companies looking to strengthen their distribution network are likely to find it particularly appealing, the sources said. Pure-play brokerages could also take a look, the sources said. The potential buyers could also spin out the life insurance business after completing a deal, one of the sources said. Desjardins is looking to sign a deal over the next few months, the sources said.

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