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IA Financial acquires 3 Canada-based vehicle warranty companies

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IA Financial acquires 3 Canada-based vehicle warranty companies

IA Financial Corp. has acquired Canada-based C. Walker Group Inc.'s subsidiaries, WGI Service Plan Division Inc. and WGI Manufacturing Inc.

C. Walker Group is a wholesale manufacturer and administrator of chemical protection products for the automobile industry. The group is a partner of iA Financial in the Canadian warranty and ancillary products business.

IA Financial also acquired London, Ontario-based Lubrico Warranty Inc., which sells car warranties through used vehicle dealerships in Canada.

The acquisition, which will be funded through cash on hand, is expected to reduce iA Financial's solvency ratio by 2 percentage points. The companies will be managed under iA Financial Group's dealer services division following the acquisition.

IA Financial Group is a trademark and business name of iA Financial and Industrial Alliance Insurance and Financial Services Inc.