Deal announced which includes the acquisition of around 130 representatives
A huge deal has been announced which is set to have a significant impact on the Canadian life insurance industry.
Via its subsidiary National Financial Insurance Agency, iA Financial Group has announced an agreement to acquire the operations of Groupe financier Moreau.
Moreau, which has offices in Montreal, is a life insurance agency with around 130 representatives. The transaction is seen as part of NFIA’s growth strategy, which supports an independent distribution network in retail insurance and wealth management.
According to Alain Moreau, president of Moreau, the acquisition will be a positive step for the insurance agency.
“We have worked with iA Financial Group’s teams for years,” he said. “Our values focused on competence, professionalism and integrity are right in line with those demonstrated every day by these teams. For this reason, I am sure that the combining of our activities will be carried out in the simplest, most efficient manner possible for our clients, representatives and employees, and that everyone will come out ahead.”
Meanwhile, Louis DeConinck, president of Investia Financial Services and head of NFIA, is also delighted that the deal is finalized.
“It is our pleasure to welcome Groupe financier Moreau’s representatives to our team of independent advisors and to now serve their clients as well,” he said. “Alain Moreau’s extensive experience will be used in NFIA to develop and grow our business. With these new offices in the greater Montreal area, this acquisition consolidates our positioning in Quebec.”
The transaction closing date is planned for April 1, 2016 and is subject to normal closing conditions.
Via its subsidiary National Financial Insurance Agency, iA Financial Group has announced an agreement to acquire the operations of Groupe financier Moreau.
Moreau, which has offices in Montreal, is a life insurance agency with around 130 representatives. The transaction is seen as part of NFIA’s growth strategy, which supports an independent distribution network in retail insurance and wealth management.
According to Alain Moreau, president of Moreau, the acquisition will be a positive step for the insurance agency.
“We have worked with iA Financial Group’s teams for years,” he said. “Our values focused on competence, professionalism and integrity are right in line with those demonstrated every day by these teams. For this reason, I am sure that the combining of our activities will be carried out in the simplest, most efficient manner possible for our clients, representatives and employees, and that everyone will come out ahead.”
Meanwhile, Louis DeConinck, president of Investia Financial Services and head of NFIA, is also delighted that the deal is finalized.
“It is our pleasure to welcome Groupe financier Moreau’s representatives to our team of independent advisors and to now serve their clients as well,” he said. “Alain Moreau’s extensive experience will be used in NFIA to develop and grow our business. With these new offices in the greater Montreal area, this acquisition consolidates our positioning in Quebec.”
The transaction closing date is planned for April 1, 2016 and is subject to normal closing conditions.
