On May 2, 2012, Insurance Portfolio Inc. received the annoucement from INTACT Insurance that they have concluded a definitive agreement to acquire JEVCO Insurance, one of the country’s leading provider of specialty and niche products with $350 million in reported premiums. The transaction, which is valued at $530 million, is expected to close in the summer months or early in the fall, once the transaction is approved by the shareholders of Jevco and Intact receives the required regulatory approvals. Intact has been advised that the transaction will provide them with the opportunity to increase their technical expertise in a number of niche areas such as recreational vehicles and non-standard auto insurance. We have also been advised by Intact that this acquisition will broaden the insurer’s leading commercial lines offering and presence by expanding their specialty lines capabilities.
Insurance Portfolio is contracted with both Jevco Insurance and Intact Insurance, and will continue to review the progress of this aquisition plan for our clients. For more information, please contact us directly at 1-800-773-8638 or locally in Toronto at 416-754-3910. For more information about these Companies, please refer to the “Our Partners” pages.
Intact Annoucement – Aquires Jevco Insurance Company