Western to Acquire Canadian Farm Insurance and Stockmens Insurance, Specialized Property and Casualty Livestock Insurers; Announces Concurrent Private Placement of Approximately $50 Million

Western Financial Group has announced plans to acquire Canadian Farm Insurance and Stockmens Insurance. Both entities function as specialized property and casualty insurers focused on the livestock sector. This strategic move is intended to broaden Western's reach within agricultural insurance markets.

Canadian Farm serves as a niche livestock transit insurance provider with a strong presence in Western Canadian cattle auction markets. The acquisition also encompasses Stockmens Insurance, which operates as a managing general agent in both Canada and the United States. These additions are expected to strengthen the firm's distribution channels and specialized coverage offerings.

To support this transaction, the company has announced a concurrent private placement of approximately $50 million. This financing initiative is designed to provide the necessary capital for the completion of the acquisition. The deal reflects ongoing consolidation and growth strategies within the specialized insurance industry.

As part of the corporate transition, Scott Tannas is set to take on a new leadership role as CEO of Canadian Farm and Stockmens. Consequently, he will step down from his position as the Chair of Western. The company continues to move forward with these executive changes and operational integrations.