Western Financial Group doubles ownership interest in Falkins Insurance Group

Western Financial Group has increased its ownership of Falkins Insurance Group Limited from 20% to 40%.
In addition, all parties have agreed upon a pathway to provide Western with the ability to acquire full ownership of Falkins by Jan. 1, 2014.
Established in 1897, Falkins Insurance is the largest writer of general insurance in south central British Columbia.
Western Financial provides insurance, financial services and banking services to more than 500,000 individuals and businesses in Western Canada.
“In deciding upon the company’s perpetuation direction, it was the intent of the shareholders that the best interests of the employees and the customers take precedence,”
Falkins CEO Bob McGill said. “We feel this objective has been accomplished, as the similarities with Western’s corporate culture and reputation are striking.
“The two companies are both rural-oriented organizations with a high level of customer loyalty developed and nurtured by professional long-term employees.
“Remaining a Canadian-owned company was also an important objective that was achieved.”