Western Financial Group Announces Completion of Acquisitions, Reaches 400,000 + Customers
(TSX – WES) – Western Financial Group (the “Company”) announced
today that it has completed the acquisition of 15 locations in Northern British Columbia previously announced in its December 1, 2006 press release, as well as an additional location in Southern B.C.
The Company has now completed the acquisition of the Sawchuk Group, with three offices in Dawson Creek, four offices in Fort St. John, and one office in Fort Nelson, as well as its Sawchuk Financial Services division
located in Dawson Creek. In addition the Company has acquired the remaining 75% of Northcountry Insurance Agencies Ltd, also previously announced in the December 1, 2006 press release, with locations in 100 Mile House, Burns Lake, Fraser Lake, Houston, Smithers, Vanderhoof and Williams Lake, B.C.
Western Financial Group has also acquired Silver Star Brokers in the city of Vernon, British Columbia, one of the fastest growing communities in the Province.
With the completion of these transactions and its continuing strong internal growth, the Company has reached a significant new plateau in its scope and influence in the financial services sector in western Canada. Through
wholly owned, affiliate and partner offices, Western Financial Group’s reach extends to 98 offices in 77 communities across the four western provinces. The combined operations generate over $400 million in property & casualty insurance premiums and $60 million in life insurance premiums, and serve more than 400,000 customers.
Western Financial Group is one of the leading financial service companies in Western Canada, with offices in towns and small cities across the West.
The Common Shares of Western Financial Group are traded on the Toronto Stock Exchange under the symbol “WES”.
For further information, please contact:
Jodi Greig, Investor Relations
Western Financial Group