Co-operators General Insurance Co. Ltd. of Guelph has obtained regulatory approval to sell 50% of its interest in Echelon Insurance, a wholly owned subsidiary catering to the higher risk, non- standard auto insurance market.

EGI Investments Ltd. of Toronto is acquiring 50% ownership of Echelon and will be responsible for day-to-day management. EGI will now share representation with Co-operators on Echelon’s board of directors. EGI has considerable expertise in non-standard auto insurance and includes among its senior managers several former executives of Pafco Insurance Co.

The sale is not expected to have any discernible impact on customers, nor will staff be affected. Further details of the transaction were not disclosed.

Echelon earned revenue of approximately $36 million in 2000, and has total assets of more than $100 million.