FORT Insurance and Gaudreau Assurances Join Forces

Le Fonds de solidarité FTQ invests to support the next generation of this well-established industry player

MONTREAL, September 8, 2023 – FORT and Gaudreau announce their merger propelling themselves as one of the largest independent brokerage firms in Quebec.

The new entity, which will operate under the name of Fort Insurance & Group Benefits, combines a premium volume of $200 million. It solidifies its position as an independent leader in the industry with a vision for nationwide growth and service excellence. This strategic alliance, now led by CEO Vincent Gaudreau, places FORT in the top 10 damage insurance firms in Quebec.

Stephan Bernatchez, who will assume the role of Chairman of the Board, expresses confidence in entrusting his team to a leader like Gaudreau: “This union naturally came together, guided by our two human-oriented DNA,” stated the former IBAC President. “Vincent will successfully carry forward our nearly century-old enterprise, enhancing the client experience while maintaining our independence.”

The merged company now counts 220 employees, including 17 employee shareholders, spread across 3 offices: Westmount, St-Michel, and Quebec City. Bringing the two brokerages together not only magnifies the team’s expertise but also enables the provision of unparalleled customer service on a larger scale:

• More choices and better prices due to a broader range of insurers
• Greater expertise, including an in-house claims service, a group benefits department, and wider range of specialized products
• A larger team to provide excellent customer service

In order to contribute to its expansion, FORT partners with the Fonds de solidarité FTQ, making it the only damage insurance broker to establish such a partnership with the largest development capital network in Quebec.

Saloua Benkhouya, Vice-President of Private Equity and Impact Investments – Services at the Fonds de solidarité FTQ, is pleased with the new merger: “The Fonds de solidarité FTQ has long supported the development of Quebec’s financial services and insurance industries. We are therefore proud to add a major Quebec property and insurance brokerage to our portfolio, FORT Insurance & Group Benefits, and to support the preservation of Quebec share ownership by participating in a succession project.”

Gaudreau, a former RCCAQ President, takes pride in realizing his commitment to becoming an industry cornerstone: “I am confident that the combined expertise of our two companies will benefit our clients and our internal team. With a stronger voice, we are propelling ourselves to new heights.” This merger not only confirms its position as a pivotal player in the Quebec insurance landscape, but also sets the stage for an exciting chapter of development and value creation on a national scale.

About FORT Insurance & Group Benefits

Since 1927, FORT has been guiding business leaders and executives in protecting their families, employees, and assets through tailor-made insurance and employee benefits solution, both in Canada and abroad. Visit fort-groupe.com or LinkedIn.

About Gaudreau Assurances

Gaudreau Assurances is an independent brokerage firm established in 1999. Its team of passionate is dedicated to providing the best insurance solutions for both individuals and businesses. Proud Member of the Canadian Broker Network. Visit our LinkedIn.

About the Fonds de solidarité FTQ

A source of pride for Quebecers, the Fonds de solidarité FTQ fulfills its mission thanks to a unique business model created 40 years ago. Since its inception, the Fonds has rallied Quebecers, collecting and channeling the retirement savings of its 765,721 shareholders-savers into investments that help drive the Québec economy.

With net assets of $18.4 billion as at May 31, 2023, the Fonds supports more than 3,700 companies through venture and development capital investments underpinned by the conviction that impact is created as much by financial as social returns. For more information, visit fondsftq.com or our company LinkedIn page.

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For more information:

Vincent Gaudreau
President
FORT Insurance & Group Benefits
vgaudreau@gaudreauassurances.com | 514 374-9944, #229

Stéphan Bernatchez
Chairman of the Board of Directors
FORT Insurance & Group Benefits
sbernatchez@fort-groupe.com | 514 481-0481, #1410

Patrick McQuilken
Senior Press Relations Advisor
Fonds de solidarité FTQ
pmcquilken@fondsftq.com | 514 703-5587