February 20, 2018 10:00
Carl Couture, vice-president, business development at Deslauriers & Associés and co-founder of Couture-Rochette & Associés, Yan Charbonneau, president and chief executive officer of Deslauriers & Associés, Michel Renaud, vice-president, risk management at Deslauriers & Associés and co-founder of Renaud Insurance & risk Management, Raynald Rochette, vice-president relationship to the insurers at Deslauriers & Associés and co-founder of Couture-Rochette & Associés
Renaud Insurance happening in the fold of the Group, Deslauriers & Associates, learned of the insurance Journal. The firm acquired will be joining Couture-Rochette & Associates, another firm acquired by the Group, Deslauriers & Associates and its owner Yan Charbonneau.
The Group, Deslauriers & Associates now has a premium volume of $ 85 million ($M) and employs 102 people. Renaud Insurance holds a volume of$ 15 Million. Established in Québec city, the firm specializes in business insurance.
90 % in insurance companies
With this transaction, the volume of the Group, Deslauriers & Associés is concentrated to 90 % in insurance companies. The volume of its branches established in the region of Quebec reached for him$ 55 Million, compared to$ 35 Million in the Montreal region and its surroundings.
The financial terms of the transaction are Promutuel Insurance and Laurentian Bank. The transaction was concluded on 7 February and will be announced officially later in the day.
Ensure the succession
Renaud Insurance has seen the light of day in 2009. The cabinet was the property of Michel Renaud and Linda Delisle. Mr. Renaud will remain in the cabinet in the course of the next ten years. He held the position of vice-president, risk management within the company.
«For a long time, we wanted to ensure our succession and increase our capacity to underwrite bigger risks for our clients. This is exactly what we will benefit with the know-how and the reputation of Couture-Rochette & Associés «, he commented.
Goal :$ 125 Million
Contacted by the Journal of insurance, Yan Charbonneau points out that this cabinet was inspired by Couture-Rochette in order to build his business model. The leaders of the two firms know each other very well, » he said. He pointed out that to acquire Couture-Rochette opened the door to this new transaction.
Mr. Charbonneau is fixed, therefore, the objective of having a volume of 125 M$, ideally by the end of 2018. This acquisition is the sixth in two years, » he recalls.
Give more weight to the brokers
It is also said to carry out this transaction to give more weight to independent brokers in Quebec. He sees it as a problem more and more blatant, even in business insurance.
«A vast majority of companies rely on insurance brokers like us to make the management of their insurance portfolio. The problem stems from the fact that a lot of brokerage firms have been purchased directly by large insurance companies to whom they send the majority of their clients. That is the independence of the broker in all this ? «
The «practice of incestuous»
Mr. Charbonneau said that his company is conducting its fight its way against this practice that he describes as incestuous. «We acquire firms that are independent. We remain independent. We guarantee real transparency and integrity in the insurance program for our clients to obtain the best protection at the best price at each renewal. «