VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/07/15 -- IDC Worldsource Insurance Network Inc. ("IDC WIN") and First Prairie Financial Inc. ("First Prairie") are pleased to announce that they have signed a Letter of Intent and entered into negotiations for IDC WIN to acquire First Prairie, a leading regional MGA in Alberta and Saskatchewan. The transaction is subject to completion of due diligence and the finalization of terms.
Paul Brown, Chairman and Chief Executive Officer of IDC WIN stated, "We are very fortunate to have the opportunity to partner with First Prairie. They are a highly ethical and professional organization and one of the top regional MGAs. This acquisition will give us a very strong presence in one of the main markets in the country."
Brown noted that First Prairie Advisors will continue to benefit from having access to First Prairie staff and services, as well as from the additional value that IDC WIN brings as a leading National MGA. "It is a perfect fit for a number of reasons," said Brown. "First Prairie's leadership and staff are a great addition to the IDC WIN team."
"We had IDC WIN on the top of our list as a partner for the next stage of our evolution, as we went through the process of finding a national firm with which to integrate," said Ken Aberg, President of First Prairie. "We wanted our staff and advisors to feel confident in going forward that our culture would remain and we would have much more to offer in terms of products and services."
The transaction is expected to close in the second quarter of 2015.
About IDC Worldsource Insurance Network Inc.
IDC Worldsource Insurance Network Inc. is one of Canada's leading life insurance Managing General Agencies, servicing more than 2,000 advisors across the country through 19 major insurance carriers. IDC WIN prides itself on its service, knowledge and commitment to the Canadian insurance industry, bringing a sharp focus and exceptional standards of operation to all areas of its processes. IDC WIN is about exceptional people servicing dedicated and entrepreneurial advisors, and assisting their clients to meet their insurance and financial goals. To learn more about IDC WIN, visit www.idcwin.ca.
About First Prairie Financial Inc.
First Prairie Financial Inc. was established in 1999 by co-founders Ken Aberg and Joe Ruddell. Operating from their head office in Edmonton, and a branch office in Calgary, the organization has grown to become one of the leading distributors in the industry, with its pledge of "Serving Western Canada's Premier Insurance and Financial Advisors". First Prairie is committed to providing the highest standard of professional personalized service. To learn more about First Prairie Financial, visit www.fpfinancial.com.
Chairman and Chief Executive Officer
IDC Worldsource Insurance Network Inc.
Telephone: (604) 689-8289