Marubeni Corporation has invested in LGM Financial Services Inc., a Canadian leader in extended vehicle warranty products, aiming to capitalize on the growing market and enhance service offerings in North America.
Target Overview
Marubeni Corporation, a leading Japanese conglomerate, has made a strategic investment in LGM Financial Services Inc. group, a prominent Canadian company specializing in the design and sale of extended warranty products for automobiles. Established in 1998, LGM has distinguished itself as a front-runner in the Canadian extended warranty market, providing not only warranty products but also warranty claims processing services.
LGM offers a range of authorized products designed for various auto manufacturers, as well as its proprietary brand of products tailored for used vehicles through dealer networks. Notably, LGM has implemented an advanced AI-based sales system for dealers that enhances operational efficiency by centralizing sales management and streamlining warranty claims processing, thereby earning high customer satisfaction among car owners, manufacturers, dealers, and maintenance providers.
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Industry Overview
The extended warranty market in Canada is witnessing substantial growth, with an average annual growth rate projected at around 10% by 2030. This growth is primarily driven by the relatively uncomplicated vehicle inspection system compar
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