TORONTO, June 4, 2012 /CNW/ - EGI Financial Holdings Inc. ("EGI" or the
"Company") (TSX: EFH) today announced that Hemraj Singh, its Chief
Financial Officer, intends to retire with effect on December 31, 2012.
EGI has launched a search for a new CFO. It is expected that Mr.
Singh's responsibilities will be gradually transitioned during the
intervening period, once a new CFO has been appointed.
Steve Dobronyi, EGI's Chief Executive Officer, said, "Over the past 10
years, Hemraj has made an outstanding contribution to EGI. He has been
a key member of our executive team, guiding the Company in its initial
growth, through going public, to our current solid financial position.
Hemraj has been a trusted advisor. He has gained the appreciation and
respect from everyone he's worked with, both within the EGI team and
throughout the insurance industry."
About EGI Financial
Founded in 1997, EGI Financial operates in the property and casualty
insurance industry in Canada, the United States and Europe, primarily
focusing on non-standard automobile insurance and other niche and
specialty general insurance products.
This news release contains forward-looking information based on current
expectations. This information is based upon certain material factors
or assumptions that were applied in drawing a conclusion or making a
projection as reflected in the forward-looking information. By its
nature, this information is subject to inherent risks and uncertainties
that may be general or specific. A variety of material factors, many of
which are beyond EGI Financial's control, affect the operations,
performance and results of EGI Financial and its business, and could
cause actual results to differ materially from the expectations
expressed in any of this forward-looking information.
EGI Financial does not undertake to update any forward-looking
information, except as required by law. Additional information about
the risks and uncertainties about EGI Financial's business is provided
in its disclosure materials, including its annual information form,
filed with the securities regulatory authorities in Canada, available
SOURCE EGI Financial Holdings Inc.
For further information:
Chief Executive Officer
EGI Financial Holdings Inc.