Western Financial Group Announces Continuing Network Expansion
For Immediate Release
High River, Alberta - July 24, 2008 (TSX - WES) - Western Financial Group (the “Company”) announced today that it has closed on additional acquisitions in Alberta and Saskatchewan. The acquisition of Vet’s Insurance in Coleman, Alberta, Dunn Realty & Insurance in Wolseley, Saskatchewan, with a second location in Glenavon, Saskatchewan, as well as a start-up office in Cold Lake, Alberta all were effective July 1, 2008. In addition, Simpson Insurance Agencies in Trochu, Alberta, and Woodland Insurance Agencies in Grande Cache, Alberta were added effective May 1, 2008. Effective August 1, 2008, the Company will be closing on the acquisition of Boyd Agencies Ltd., an agency with two locations in Prince Albert, Saskatchewan.
The Company also announced it has increased its equity position in Hayhurst Elias Dudek (HED) to 49% from 25%. HED is a large Winnipeg-based insurance broker, specializing in association group insurance programs, which also owns SecuriCan General Insurance Co., Canada’s largest pet health insurance provider.
“We continue to expand our presence in communities in western Canada, as well as increasing our equity investments in affiliated companies that add significant strength to our network and overall business strategy,” said Scott Tannas, President and CEO.
Western Financial Group is a leader in providing insurance, financial services and banking services in over 90 communities, to more than 400,000 individuals and businesses in Western Canada through its WFG Agency Network locations, its affiliated insurance brokers, Western Life Assurance Company and Bank West.
The Common Shares of Western Financial Group are traded on the Toronto Stock Exchange under the symbol “WES”.
This press release is not for distribution to any United States news service or otherwise in the United States.
For further information, please contact:
Arlene Beggs, Assistant to the President
Western Financial Group