JEVCO Insurance Company
Established in 1980, JEVCO Insurance Company was a Quebec-based, Canadian property and casualty (“P&C”) insurer that operated business across Canada. JEVCO conducted business in Canada through a network of 2,200 independent brokers. JEVCO was the leading provider of Motorcycle and recreational vehicle insurance in Canada and leading non-standard automobile insurer in Ontario.
In March 2010, Westaim completed its opportunistic acquisition of JEVCO Insurance Company for ~$260 million. Over the following months, Westaim set out to execute its long-term strategic plan to grow JEVCO organically and through acquisitions.
In response to an unsolicited offer, in September 2012, Westaim sold JEVCO to Intact Financial Corporation for ~$530 million, and subsequently returned substantially all of the proceeds of the sale to its shareholders.
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