February 4, 2016 by Canadian Underwriter
Stephan Bernatchez has acquired Montreal-based Fort Insurance Group Inc., a strategic move expected to provide growth possibilities in the Quebec, Ontario and Alberta markets.
“The strategic and geographic positioning of Fort Financial Group will give us the possibility to grow in the whole province of Quebec,” Bernatchez, chairman of Insurance Brokers Association of Canada, whose current business is Assurances Bernatchez et Associés, announced this week.
Assurances Bernatchez et Associés’ commercial offering include liability insurance, professional liability, contractor, surety, commercial automobile, casualty insurance and industry and multinational.
In 2015, Bernatchez reports Fort Financial Group – which provides property and casualty and accident benefit insurance – wrote premium of about $59 million.
The customers of Assurances Bernatchez et Associés will be integrated to Fort Financial Group, Bernatchez (pictured left) announces. “They are very similar. I am very excited about the future,” he adds.
James Madon, current president and CEO of Fort Financial Group, will act as special advisor, with he and Sophie Madon overseeing the transition.
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“One of my concerns was for the employees of the firm. I know that Stephan will respect them,” James Madon says in the statement.
“We emphasize customer service and we have complementary talents. This transaction will bring Fort Financial Group to the next level,” Madon (pictured right) adds, pointing out that Bernatchez “wants to include a digital strategy to the business.”
If the brokerage continues to practice as it has in past, Bernatchez says that he anticipates “we will see substantial growth.”