Trisura Guarantee and Imagine Reinsurance are being combined into
Trisura Group Ltd., forming the latest Canadian insurance holding company.
The decision was a consolidation by Brookfield Asset Management, the 60% stake owner of Trisura and total owner of Imagine.
Learn more about Trisura insurance products here.
But the transformation of the 40% employee-owned P&C company doesn’t end there.
Brookfield has filed a prospectus with the securities commission to take the new Trisura Group public and list it on the TSX.
The asset management company is planning on giving out ownership of Trisura Group to its shareholders through dividends.
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“(We’re) forming a global insurance platform that will also explore future potential insurance investment opportunities. This transaction will take several months to complete,” Mike George, President and CEO of Trisura Guarantee Insurance Company said in a press release.
“The ultimate owners of Trisura Guarantee (Brookfield shareholders and Trisura Guarantee employees) do not change, Trisura Guarantee management remains the same and Trisura employees will continue to own 40% of the company.”
George stressed Trisura will benefit from more capital and financial flexibility.
He maintained the company’s focus, business and partnerships won’t change, adding “it is business as usual.”
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