Toronto firm buys Jevco

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Insurance companies face a tough future, the way some people ride

The Jevco Insurance Company has been sold to an investment company located in Toronto.

The Westaim Corporation has arranged to borrow $275 million Cdn to complete the purchase of shares in Jevco from Kingsway Financial Services.

Jevco is a major motorcycle insurer in Canada and will be sold to Westaim for about $263 million.

Westaim’s chief financial officer, Jeff Sarfin, told CMG today that he doesn’t think any changes will be made to the way Jevco handles motorcycle insurance.

Jevco has not yet returned our call.

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