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Trimont Financial Ltd. Completes $775 Million Acquisition of Western Financial Group and Western Life Assurance

Published: 07/01/2017

Team: Brian Reeve, Gordon Goodman, Sean McGurran, Marisa Coggin, Chris Hersh, Belinda Chiu

On July 1, 2017, Trimont Financial Ltd. – a subsidiary of The Wawanesa Mutual Insurance Company – completed its acquisition of Western Financial Group and Western Life Assurance (collectively “Western”) from Desjardins Financial Corporation, a Desjardins Group subsidiary.  The transaction, valued at approximately $775 million, includes Western's primary business units: its brokerage network, Western Financial Group Insurance Solutions and Western Life Assurance. Western Financial Group will continue to operate under the same name and will continue to sell insurance products from wide range of insurers.

Cassels Brock acted for Wawanesa as regulatory counsel with a team that included Brian Reeve, Gordon Goodman, Sean McGurran and Marisa Coggin (Insurance – Corporate and Regulatory) and Chris Hersh and Belinda Chiu (Competition).