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“Losses caused by those difficult weather conditions were partially offset by favorable development on loss reserves from previous years, a portion of which is owed back to State Farm in connection with the acquisition agreement of its Canadian operations.” On Feb. 16, DGIG’s parent company announced it agreed to sell Western Financial Group and Western Life Assurance to Trimont Financial Ltd. That agreement is subject to regulatory approval and other closing conditions. Trimont and Desjardins said earlier they expect the $775-million deal to close this year. Trimont is a subsidiary of The Wawanesa Mutual Insurance Company. Once the deal closes Desjardins will have “more time to focus on further integrating State Farm,” wrote Joel Baker, president and chief executive officer MSA Research Inc. suggested in MSA’s Quarterly Outlook Report Q4-2016, released April 18. Western Financial – based in High River, Alta. – was founded in 1996 as Hi-Alta Capital Inc.
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