Canadian Underwriter

Western Financial Group Expands Brokerage Network

March 25, 2010   by Daryl-Lynn Carlson

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Western Financial Group is on a roll

The company last week announced acquisitions of four more brokerage locations in Western Canada, where it has been expanding its network presence aggressively over the past several months.

Its most recent acquisitions include Vet’s Insurance in Coleman, Alta.; Dunn Realty & Insurance in Wolseley, Sask that also comes with a second location in Glenavon, Sask and a start-up office in Cold Lake, Alta.

Effective August 1, 2008, the company will be closing on the acquisition of Boyd Agencies Ltd., an agency with two locations in Prince Albert, Sask..

Earlier this spring, it announced the addition of two other Alberta locations: Simpson Insurance Agencies in Trochu and Woodland Insurance Agencies in Grande Cache.

Along with its most recent acquisitions, Western Financial Group also disclosed it has increased its equity position in the Winnipeg-based broker, Hayhurst Elias Dudek (HED) to 49 per cent from 25 per cent. HED is 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, Western Financial Group’s president and CEO.

Western Financial Group provides insurance, financial services to more than 400,000 individuals and businesses in Western Canada through its WFG Agency Network that spans more than 90 communities and includes 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 story was originally published by Canadian Insurance Top Broker.