has sold certain assets to

EGI Financial Holdings

Acted as the exclusive financial advisor and agent to EGI Financial Holdings Inc. of Toronto which operates in the property and casualty insurance industry in Canada, the United States and Europe in the sale of its United States non-standard automobile insurance operations.  EGI announced that it has entered into a definitive stock purchase agreement with White Pine Insurance Company, a Michigan-based specialty insurance company, to sell EGI Insurance Services, Inc. and all subsidiary companies, including American Colonial Insurance Company, a Florida domiciled insurance company and EGI Insurance Services (Florida), Inc., a Florida-based managing general agency.  American Colonial is currently writing new and renewal non-standard automobile insurance in Florida.