Intact-AXA Canada merger has “totally changed the market” in Quebec: brokers

Quebec’s insurance brokers are closely monitoring the impact of Intact Insurance’s merger with AXA Canada, which has “totally changed the market” in the province, according to the provincial broker association’s president elect.
Regroupment des cabinets de courtage d’assurance du Québec (RCCAQ) president elect Catherine Mainguy gave a brief summary of several issues facing Quebec’s property and casualty (P&C) insurance brokers at the 91st Annual Convention of the Insurance Brokers Association of Ontario (IBAO) in Toronto on Oct. 20.
In Quebec, 50% of the provincial broker channel’s business will be done with Intact as a result of the company’s recent merger with AXA Canada, Mainguy observed.
The change in the provincial P&C marketplace will herald a new era of competition in the area of professional liability insurance, which the RCCAQ offers to brokers, she said.