EGI Financial acquires CUISA Managing General Agency

EGI Financial Holdings Inc. has acquired CUISA Managing General Agency.

Based in B.C., CUISA MGA provides insurance services to 160 credit union-owned insurance broker offices across the province.

By gaining access to distribution through credit unions, the acquisition means EGI gains a foothold in Western Canada and a marketing and service office.

“Equally important, it’s a financially accretive investment,” says Steve Dobronyi, chief executive officer of EGI.

EGI operates in the property and casualty insurance industry in Canada, the United States and Europe, primarily focusing on non-standard automobile insurance and other niche and specialty general insurance products.

“The synergies between the organizations will help facilitate long-term growth of the business,” predicts Barry Nelson, chief executive officer of CUISA MGA.