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BRIEF-iA Financial acquires Dealers Assurance Co, Southwest Reinsure

Published 2017-09-21, 12:04 p/m
BRIEF-iA Financial acquires Dealers Assurance Co, Southwest Reinsure
IAG
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Sept 21 (Reuters) - Industrial Alliance Insurance And Financial Services Inc IAG.TO :

* iA financial group expands its car dealer business to the us

* Says deal for US$135 million

* Says deal is expected to be modestly accretive to earnings in 2018, to contribute $0.05 per share in 2019

* Says acquisition will be financed from cash on hand, reduce co's solvency ratio by about 8 percentage points

* Says signed agreement to buy shares of privately-owned, us-based dealers assurance company, southwest reinsure

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