Brookfield is combining its investments in property and casualty insurance by bringing together its 60% ownership stake in Trisura Guarantee and its 100% ownership of Imagine Reinsurance to form Trisura Group Ltd, a new Canadian insurance holding company.
Brookfield then intends to dividend its ownership in Trisura Group Ltd out to all Brookfield shareholders and take Trisura Group Ltd public (a prospectus is being filed with the securities commission with the goal of a listing on the TSX), forming a global insurance platform that will also explore future potential insurance investment opportunities. This transaction will take several months to complete.
The ultimate owners of Trisura Guarantee (Brookfield shareholders and Trisura Guarantee employees) do not change, Trisura Guarantee management remains the same and Trisura employees will continue to own 40% of the company.
Trisura Guarantee will benefit from additional access to capital, financial flexibility and Trisura Group Ltd’s strategic focus on insurance and there will be no change in terms of how we currently conduct our business – it is business as usual and we will continue on our path of becoming the Canadian specialty lines leader working strategically with our broker force.
We look forward to continuing to build our businesses together and thank you for your ongoing support. Should you have any questions at all please do not hesitate to give me a call.
President & CEO
Trisura Guarantee Insurance Company
T 416.607.2144, F 416.214.9597, M 416.407.0992