MGI Financial Inc. to become Desjardins Financial Security Investments Inc.
Last step in the purchase transaction between Jovian and Desjardins Financial Security
TORONTO, Dec. 6, 2012 /CNW Telbec/ - On December 1, 2012, MGI Financial Inc. officially became Desjardins Financial Security Investments Inc., a subsidiary of Desjardins Financial Security Life Assurance Company (DFS).
This name change represents the last step in the purchase transaction that started last year between Jovian Capital Corporation (TSX: JOV) and Desjardins Financial Security, a subsidiary of Desjardins Group. The transaction, which was subject to the customary regulatory and contractual consents and approvals, closed in October 2011.
"This acquisition is allowing us to pursue at a faster pace the expansion of our distribution network across Canada," said Stéphane Dulude, executive vice-president at Desjardins Financial Security Investments Inc. "We strongly believe that our clients and advisors will benefit from the support of a strong banner as we aim to continue to grow across the country."
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the leading cooperative financial group in Canada, specializes in providing life and health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs over 3,600 people and administers $34.9 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's. For more information, visit the website at www.desjardinsfinancialsecurity.com.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada with assets of nearly $200 billion. Drawing on the strength of its caisse network in Québec and Ontario and its subsidiaries across Canada, it offers a full range of financial products and services to its 5.6 million members and clients. Desjardins specializes in Wealth Management and Life and Health Insurance, in Property and Casualty Insurance, in Personal Services, in Business and Institutional Services. "Best Corporate Citizen in Canada" for 2012 and among Canada's Top 100 Employers, Desjardins is supported by the skills of its 44,645 employees and the commitment of nearly 5,400 elected officers. A new education and cooperation program is now available to Desjardins members and the general public. For more information, visit www.desjardins.com/co-opme.
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