Westland Insurance Group Ltd.

Westland Insurance Group Ltd.

May 03, 2010 17:55 ET

Westland Insurance to Acquire Peninsula & Bay Lands Ltd.

SURREY, BRITISH COLUMBIA--(Marketwire - May 3, 2010) - Westland Insurance Group Ltd. today announced it has entered into an agreement to acquire Peninsula & Bay Lands Ltd., an independent insurance agency with two locations on the West Coast of Vancouver Island in the towns of Ucluelet and Tofino, BC. The transaction marks the continuation of Westland's acquisition strategy of insurance agencies through out British Columbia and follows the acquisition of Thunderbird Insurance Services Ltd. located in Port Alberni, BC. The purchase will complete on May 31st, 2010. Terms of the transaction were not disclosed.

Founded in 1980 by Rick Turner, Peninsula & Bay Lands operates the only insurance offices in Ucluelet and Tofino. The services offered by the firm are residential insurance, automobile insurance and commercial insurance. Additionally, each location offers driver services products and is an appointed ICBC Driver Licensing Centre.

Jason Wubs, President and CEO of Westland Insurance, said, "I'm pleased to welcome the employees of Peninsula & Bay Lands to our company. We are very excited about this venture and the opportunities it brings us in being able to provide insurance services to the West Coast of Vancouver Island."

About Westland Insurance Group Ltd.:

Westland Insurance Group Ltd., one of British Columbia's leading insurance brokers, was established in 1980 to meet the insurance needs of individuals and businesses throughout the province of BC. Westland has grown primarily through acquisitions and provides insurance services to over 160,000 customers through 29 offices located throughout British Columbia.

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