TORONTO, Jan. 29, 2016 /CNW/ - Echelon Financial Holdings Inc. ("Echelon Insurance" or the "Company") (TSX: EFH) today announced the formation of a Special Strategic Review Committee comprised of four of the Company's independent directors. The Chair of the Committee is Murray Wallace. The other members of the Committee are Brian Reeve, Peter Crawford and Angus Ross. The Committee is responsible for assessing, examining and providing advice to the Board with respect to strategic and financial opportunities facing the Company, including its International operations. The Committee has met several times recently with senior management and is in the process of selecting an independent financial advisor to assist in the assessment, strategy and future of the Company's International operations.
Given the nature of the process, the Company does not intend to provide updates until such time as the Board of Directors approves a strategic direction, or otherwise determines that further disclosure is advisable.
About Echelon Insurance
Founded in 1998, EFH operates in the property and casualty insurance industry in Canada and Europe, primarily focused on providing non-standard automobile insurance and other niche and specialty insurance solutions. The Company operates and distributes insurance products through Echelon Insurance, The Insurance Company of Prince Edward Island and Qudos Insurance. It trades on the Toronto Stock Exchange under the symbol EFH. For more information, visit echeloninsurance.ca.
SOURCE Echelon Financial Holdings Inc.
For further information: Kathy Shulman, Manager, Investor Relations, 905-214-7880, [email protected], echeloninsurance.ca