Fonds de solidarité FTQ invests in Fort Insurance & Group Benefits

• Fort Insurance & Group Benefits, which has 220 employees, including 17 employee shareholders, will be led by CEO Vincent Gaudreau
• The new company combines a premium volume of C$200 million
• Fonds de solidarité FTQ invested to support the future expansion of the combined business

Fort Insurance and Gaudreau Assurances have combined to create Fort Insurance & Group Benefits, an independent insurance brokerage with offices in Westmount, St-Michel and Quebec City, Quebec. No financial terms were disclosed.

Fonds de solidarité FTQ invested in the combined business to support its future expansion.

Fort Insurance & Group Benefits, which has 220 employees, including 17 employee shareholders, will be led by CEO Vincent Gaudreau. Stéphan Bernatchez will become chairman of the board. The new company combines a premium volume of C$200 million.

“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,” Saloua Benkhouya, vice president of private equity and impact investments, services, at the Fonds de solidarité FTQ, said in a statement.

Fonds de solidarité FTQ is a labour-sponsored provider of development and growth capital in Quebec. Based in Montreal, it held net assets of C$18.4 billion as at May 31, 2023.