August 27, 2019 by Greg Meckbach
Guelph, Ont.-based The Co-operators, Canada’s fifth-largest property and casualty insurer, announced the Cadieux Beausejour Dupras acquisition Tuesday.
As a result, Cadieux Beausejour Dupras will become a Co-operators agency, a Co-operators spokesperson told Canadian Underwriter Tuesday. For clients of Cadieux Beausejour Dupras, coverage will remain in effect for the remainder of the policy term.
“We remain focused on strengthening our agency distribution system in Quebec,” Patrick Décarie, vice president, Quebec region of The Co-operators, said in a release.
Cadieux Beausejour Dupras, which places both personal and commercial lines, is located in the community of Saint Jérôme, about 20 km north of Montreal Mirabel Airport.
Clients of Cadieux Beausejour Dupras “will receive first-rate service from a leading national insurance co-operative and gain access to a full suite of insurance products including home, auto, life, travel and commercial,” The Co-operators said.
On Jan. 3, The Co-operators announced the acquisition of Assurances Madelein Inc., a brokerage based in the Montreal suburb of Laval.
That was followed Jan. 28 by the acquisition of Redfords Insurance Brokers in Pickering, which borders Toronto to the east. Also in Ontario, The Co-operators announced in April that it had acquired Robinson & Associates Insurance Brokers in Niagara Falls and Ridgeway.
The Co-operators has 2,753 licensed insurance representatives throughout Canada, according to its 2018 annual report. Canada-wide, the Co-operators General Insurance Company insures about 875,000 homes, more than 1.4 million vehicles, 40,000 farms, and 306,000 businesses, the company said this past March in its annual information form.
With $3 billion in net premiums written in Canada in 2018, The Co-operators ranked fifth in the overall P&C market (after Intact, Aviva, Desjardins and the Lloyd’s market), according to the Canadian Underwriter 2019 statistical guide. The Co-operators ranked 12th in the Quebec P&C market.
Through the Co-operators General Insurance Company, the Co-operators provides both personal and commercial insurance products through its financial advisor network. Through another subsidiary Sovereign General, The Co-operators Group writes complex commercial and specialty risks through brokers.