Transactions & Cases Detail



Transaction/Case Details

E-L Financial completes C$1.07 billion sale of The Dominion of Canada General Insurance Company

DATE CLOSED

November 1, 2013

BUSINESS SECTOR

Financial Services

LEAD OFFICE

Toronto

VALUE

1.07 Billion CAD


OVERVIEW

On November 1, 2013, E-L Financial Corporation Limited announced that it has completed the previously announced sale of its wholly-owned subsidiary The Dominion of Canada General Insurance Company to The Travelers Companies, Inc. for C$1.07 billion in cash, subject to certain post-closing adjustments. E-L Financial plans to allocate the proceeds of the sale to a range of investment opportunities, including global equities.

E-L Financial Corporation, headquartered in Toronto, Ontario, operates as an investment and insurance holding company.

The Dominion of Canada General Insurance Company, headquartered in Toronto, Ontario, is a property and casualty insurer.

The Travelers Companies, Inc., headquartered in New York City, New York, is a provider of property casualty insurance for auto, home and business.

McCarthy Tétrault LLP represented E-L Financial Corporation, the seller, with a team led by Andrew Parker.

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