The Loyalist Insurance Group Ltd. announced today that it has sold its controlling interest in All-Canadian Management Inc. to existing minority shareholders of All-Canadian, Russell Boychuk and Harold Kent, pending regulatory approval.

The use of the proceeds from the sale will be used to provide additional working capital and for general corporate purposes thus allowing the company to better focus on its core insurance lines.

The Loyalist Insurance Group Limited is a financial services holding company primarily involved, through its subsidiaries, in property and casualty insurance underwriting, and retail insurance brokerage business.

All-Canadian manages All-Canadian CapitalFund, All-Canadian Compound Fund, All-Canadian ConsumerFund, and All-Canadian Resources Corp.