E-L Financial Corporation Limited
(TSX:ELF)(TSX:ELF.PR.F)(TSX:ELF.PR.G)(TSX:ELF.PR.H) today announced that it has
completed the previously-announced sale of its wholly-owned subsidiary The
Dominion of Canada General Insurance Company to The Travelers Companies, Inc.
(NYSE:TRV) for $1.07 billion in cash, subject to certain post-closing
adjustments. E-L Financial plans to allocate the proceeds of the sale to a
range of investment opportunities, including global equities.
E-L Financial operates as an investment and insurance
holding company. Among its other assets, E-L Financial owns 80% of The Empire
Life Insurance Company, which underwrites life and health insurance policies
and provides segregated funds, mutual funds and annuity products. E-L Financial
remains committed to Empire Life and the life insurance industry in Canada. Read more.
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