TORONTO, March 22, 2016 /CNW/ - Echelon Financial Holdings Inc. ("Echelon Insurance" or the "Company") (TSX: EFH) today announced the appointment of a financial advisor to the previously announced Special Committee of the Board of Directors for the purposes of exploring a structured divestiture process of the Company's International business. The Committee and its financial advisor are considering a broad range of options and the process may not result in any transaction.
Given the nature of the process, the Company does not intend to provide further updates until such time as the Board of Directors approves any specific transactions, the review process is concluded, or the Board of Directors otherwise determines that further disclosure is advisable.
About Echelon Insurance
Founded in 1998, Echelon Insurance 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]