Western Financial Group and Cranbrook, B.C.-based Falkins Insurance Group are taking on a more visible partnership presence in B.C.’s Kootenay Region as they continue on their path to fully come together over the next 18 months, Western announced on August 8.
To support the growing presence of the Western brand in the Kootenay region, Falkins will begin a cobranding transition incorporating the Western logo.
The two companies went public with their long-term plans in 2010, which will see Falkins become part of the Western Financial Group family of brokerages by January 1, 2014.
This transition is the next step in a deliberate plan set in motion seven years ago by Falkins’ shareholders. The goal of that plan was to perpetuate the ownership of the company with the intent to find a future owner that would have the best interest of the Falkins’ customers and employees in mind. Western Financial Group currently has a 40 percent ownership interest in Falkins.
“Through our perpetuation planning process, it became clear that Western was the best fit in every respect,” said Bob McGill, CEO of Falkins in a statement. “Not only does Western carry a wide array of insurance and financial services products, but they also approach business the same way we do. They share our values, one of which is a commitment to being a leading corporate citizen in the communities where we operate. That’s important to us and to the people we serve throughout the Kootenays.”
“Both companies have roots in Western Canada and know what’s important to people here,” said Western Financial Group CEO Scott Tannas. “We’re looking forward to our evolving relationship with Falkins and to helping people throughout the Kootenays with their insurance and financial needs.”
Last week, Western announced that the Cranbrook RecPlex would become Western Financial Place, as the result of a $750,000 naming rights, sponsorship, and usage agreement.