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 at www.sedar.com.
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Chief Executive Officer
EGI Financial Holdings Inc.