Economical completes acquisition of leading pet insurer

Economical has acquired one of Canada’s leading insurers of cats and dogs

Economical completes acquisition of leading pet insurer

Insurance News

By Ryan Smith

Economical Insurance has completed its acquisition of Western Financial Insurance Company and its flagship brand Petsecure from Desjardins Group, the company announced today.

As part of the acquisition, WFIC changed its name to Petline Insurance Company. The Petsecure brand name will remain the same.

Petline is a market leader in the growing Canadian pet insurance industry. Petline, which posted written premiums in excess of $50 million in 2015, provides Canadian pet owners with comprehensive coverage for cats and dogs.

Bringing it into the Economical family “is consistent with the strategy of Economical and its focus on profitable growth both organic and by acquisition,” Economical said in a news release.

“This transaction is a step in our growth plan, which includes increasing scale and diversification through acquisitions,” said Rowan Sanders, president and CEO of Economical.

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