Regina-based Knight Archer Insurance has purchased Conexus Insurance, a subsidiary of Conexus Credit Union.
The deal will close September 5. Knight Archer will acquire all seven Conexus Insurance’s service locations and a mixture of personal, commercial, and agricultural insurance policies.
In a news release, Cary Ransome, Conexus Credit Union COO and Conexus Insurance CEO, said the sale will allow the credit union to strengthen its focus on delivering core financial services.
Doug Archer, CEO of Knight Archer, said “our customers now have access to the province’s most extensive service network and we can offer a growing range of insurance products by managing the largest personal insurance portfolio in Saskatchewan.”
For clients of Conexus Insurance, there will be no changes to premiums or coverage to their policies for the current term.
All 40 Conexus Insurance staff will be offered positions with Knight Archer.
Knight Archer Insurance is a full-service insurance brokerage with 14 locations. Conexus is Saskatchewan’s largest and Canada’s sixth largest credit union.