Co-operators acquires Quebec brokerage

Continuing its expansion into Quebec, Co-operators has acquired Agence D’Assurance Montcalm Inc., a Quebec City-based brokerage.

Montcalm is the seventh acquisition Co‑operators has made in Quebec since launching their regional expansion strategy in 2017. 

Montcalm has operated in Québec City since 1962. The full-service brokerage specializes in home, auto and commercial insurance, and handles approximately 3,000 policies across the three lines.  

Co-operators says existing client coverage will remain in effect for the insured’s current policy term. Montcalm staff will continue to operate out of the current location. 

The deal closed on Sept. 1, Co-operators says in a press release.  

“Co-operators’ reputation is built on expert advice and community values. That’s the model we have brought to Quebec, and it has driven our success here,” Patrick Décarie, vice president of sales operations, says. 

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In keeping with its ongoing strategy to expand in the province, Co-operators is looking to scale in Quebec and is offering “both ‘sell-and-stay’ and phased retirement options for owners looking to sell,” Décarie says.

Co-operators is the fourth-largest property and casualty insurer in Canada and has more than 600 locations across the country. The company operates 13 corporate branch locations in Quebec. 

Alyssa DiSabatino

Alyssa Di Sabatino has been a reporter for Canadian Underwriter since 2021, covering industry trends, market developments, and emerging risks.