Conexus Credit Union is getting out of the insurance business.
The Regina based credit union announced the sale of its insurance subsidiary Conexus Insurance, to Knight Archer Insurance on Wednesday.
Cary Ransome the COO of Conexus Credit Union and CEO of Conexus Insurance said that getting out of the insurance business will allow the credit union to focus more on delivering what he called core financial services.
For its part Knight Archer Insurance CEO Doug Archer said that acquiring Conexus Insurance will allow Knight Archer to offer a wider range of insurance products across the province.
Conexus Insurance currently employs around 40 people, all of whom will be offered jobs with Knight Archer.
The deal will officially close on September 5.