FORTRESS INSURANCE

Fortress Logo

COMPANY PROFILE

Fortress is an Alberta registered and regulated insurance company, exclusively providing automobile third party liability coverage to Prairie View Holding companies in the rental car and airport services business in Calgary. Western Investment and its partners have agreed on a plan to transform Fortress from its current narrow scope to seize upon opportunities in specialty and surplus lines of business within the western Canadian insurance marketplace. The plan includes expansion of Fortress’ licenced operations to include all four western provinces, offering various property insurance products geared to niche customers.

Financial Metrics

  Purchase Price $1.69mm
  Purchase Date May 6, 2019
  WIC Ownership 50%

Industry

icon-distribution-retail

Insurance Services

Investment Thesis

  • To provide Western with an entry point into the insurance industry from which it intends to develop a business from the ground up.