Three Quebec Brokerages Will Merge to Form EGR | Canadian Insurance

Three Quebec Brokerages Will Merge to Form EGR

New entity will be one of five largest brokerages in its niche in Quebec

Damage insurance firms EssOR Insurance, Pratte Morrissette, and Assuraction have signed an agreement in principle to create a new entity called EGR.

The company, which will specialize in risk management, insurance and surety bonds, will group together damage insurance brokerage services for medium and large businesses, including specialized lines.

With an estimated premium volume of over $150 million, the merging companies say EGR will rank among the five largest insurance brokers in its niche in Quebec.

“To us, this alliance seemed natural, since we all share corporate values and cultures based on talent development, high-quality customer service and the desire to continually improve our processes,” explains Louis Bélanger, CEO of Pratte Morrissette and future president of EGR.

“Our complementary areas of expertise and financial health will place us in a favourable market position,” adds Michel Duval, future chairman of EGR’s board of directors. “These factors will allow us to pursue our growth strategy in an industry in the midst of consolidation.”

EGR will have nine offices and will employ over 150 people, including a team of specialized brokers in every major economic hub along the Québec-Montréal axis. This new team will include specialized brokers assigned to risk marketing, safety practitioners, legal experts, and adjusters.

EssOR Insurance will continue its personal lines and small business damage insurance brokerage activities.

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