16 June 2017 07:00
Alain Du Sault
Alain Du Sault is a well-known face within the brokerage. His firm Acti-Prima Insurance and financial services has a great reputation and he has been a shareholder ofIntergroup, in addition to being the director general for a time.
Why then has he decided to sell, at the age of 57 years ? This is the question that he was asked by the Journal of insurance.
Mr. Du Sault has revealed that it plans to not leave the industry at age 57. He planned to instead make it to 55 years of age. It has therefore continued two years longer than his initial plan. He also revealed that he will continue to broker withinAssurancia Groupe Tardif to a one-year period, which may be extended by the following.
Why sell the cabinet now ? «When one sees how fast the industry is growing with the Internet and social networks, it is necessary to have the taste of boarding there, but also have the right resources to make a living for it. You also need to have the willingness to invest money and wait for the return later. With less than 20 million dollars (M$) volume of premiums, it is difficult. All this has made sure that my thinking led me to the decision to sell «, he confided to the Journal of the insurance.
What advice does it give to his fellow brokers who are in the same situation as him ? Mr. Du Sault stresses that each situation is different. It is also said to believe that the value of the brokerage firms will be not increasing exponentially as some might believe, especially if the insurers come to get the right to own firms to 100 %.
«If the owner still has fun, that it continues ! If it has a volume of$ 2 Million or$ 3 Million, that he has an assistant and his client and that he likes it, it will go well. If he feels overwhelmed with the upcoming changes, with the introduction of Epic as a broker management system (BMS) or other, he must start a discussion. The basic principle is to have fun and not to question 15 times a day. «
Another factor that has weighed in the decision of Mr. Sault, is the declining interest of the insurers to deal with him. He points the finger at the volume requirements they ask for. «Previously, we were a firm that was highly accessed by the insurers. For the past two years, it is of less interest. One feels that they are targeting the large volumes, » he says.