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Western Financial Group Announces Acquisition of Sidney Watercraft Insurance Brokerage

High River (AB), July 23, 2012 – Western Financial Group (Western) is proud to announce the July 1st acquisition of BC Yacht Insurance Brokers Inc. (BC Yacht), Sidney’s only specialized marine insurance brokerage. BC Yacht is headquartered in Sidney, British Columbia and is Western Financial Group’s second acquisition on Vancouver Island this year.

“We have developed specialized expertise and underwriting agreements with respect to watercraft and marine insurance which we will now bring to Western's expanding network,” said Robert (Bob) Raymond, founder and owner of BC Yacht. “This allows us to continue strongly growing our business right here in Sidney, and it means we can offer our excellent products and services right across western Canada."

BC Yacht was founded in 2006 when Bob Raymond, a very experienced yachtsman, decided to sell his general insurance brokerage and primarily pursue specialized watercraft and marine insurance. BC Yacht is a leader in this type of coverage. The Sidney office, now under the Western Financial Group banner, will continue to operate with the same knowledgeable and friendly staff out of its same location at #105 - 2506 Beacon Avenue.

Western will expand BC Yacht’s reach to customers across western Canada, while building on its reputation for superior marine insurance and customer satisfaction. BC Yacht’s customers will over time benefit from the wide range of insurance products Western provides including home, auto, life, business, farm and specialty insurance products.

“This is a great fit for Western and for BC Yacht,” said Scott Tannas, president and CEO of Western Financial Group. “Gaining BC Yacht’s expertise in watercraft insurance will immediately benefit our customers and brokers across our network. We are excited to welcome Robert to the team.”

About Western Financial Group

Western Financial Group is a western Canada based, diversified, financial services company serving more than 600,000 customers. Founded in 1996 and headquartered in High River, Alberta, Western provides insurance, banking and investment products and services through more than 120 office locations, the Internet (www.westernfinancialgroup.ca) and other distribution channels. With a skilled team of approximately 1,500 employees, and backed by the strong resources of its owners, Western is committed to building the strongest financial services company in western Canada.

Western Financial Group is a subsidiary of Desjardins Group, the leading cooperative financial group in Canada.



For further information, please contact:

LaVonne Walt
External Communications Manager
Corporate Communications and Brand Marketing Western Financial Group
(403) 652-2663, Ext. 396 LaVonne.Walt@westernfg.ca