Desjardins to acquire State Farm assets in Canada

Wed Jan 15, 2014 11:39am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

TORONTO Jan 15 (Reuters) - Canada's Desjardins Group said on Wednesday that it would buy State Farm Canada's businesses in property and casualty and life insurance, as well as its Canadian mutual fund, loan and living benefits companies.

The value of the transaction was not disclosed.

The deal would transform Desjardins into the second-largest property and casualty insurance provider in Canada, with annual gross written premiums of about $3.9 billion, the Quebec-based cooperative financial group said.