Western Financial acquires full ownership of Falkins brokerage in southeastern B.C.

Western Financial Group Inc. announced Monday it has acquired full ownership of Cranbrook, British Columbia-based brokers Falkins Insurance Group Ltd.

Falkins has 11 offices in southeastern B.C. The brokerage sells personal, travel, auto, and commercial insurance and operates its own claims service.

High River, Alta.-based Western Financial first announced in 2005 it had acquired a 20% ownership stake in Falkins, which was founded in 1897. Western Financial increased its ownership stake in Falkins to 40% in August 2010.

“This acquisition is a major milestone in Western’s history and allows us to increase our presence in British Columbia, offering more choice to our existing and potential customers,” Western Financial Group president and CEO Jeff Burke stated of the Falkins acquisition in a press release Jan. 6, 2014.

“Western’s large network provides our customers with more options, and their commitment to their values of truthfulness, fairness, value and loyalty has been a great marriage for Falkins,” stated Pete Stefano, senior vice president, corporate of Falkins. “Through the acquisition, we’re now able to offer a wider selection of insurance products and banking services.”

In addition to two offices in Cranbrook – about 400 kilometres southwest of Calgary – Falkins also has offices in the British Columbia communities of Creston, Elkford, Fernie, Fruitvale, Golden, Kaslo, Kimberley, Salmo and Sparwood.

Western Financial has a broker network with more than 100 offices in British Columbia, Alberta, Saskatchewan and Manitoba.

Last October, Western Financial Group and The InsureBC Group announced it opened  Kitimat Insurance Services Ltd., a new brokerage in the Pacific port city of Kitimat. In September, Western Financial Group acquired Prestige Insurance Brokers Inc. of North Battleford, Saskatchewan.

Western Financial Group is a subsidiary of Desjardins Group. In addition to its brokerage network, Western Financial Group also owns direct writer Western Direct Insurance, a chartered bank (Bank West), a pet insurance carrier (Western Financial Insurance Company), Western Life (originally the Canadian arm of Federated Mutual) and Marlin Travel.