../Morning Post
Posted January 17, 2011
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Acquisition

The Co-operators expands in Gaspésie with acquisition of local insurance brokerage

MONTREAL - Co-operators announced that it has acquired, along with an investment partner, the personal lines insurance operations of a brokerage based in Caplan, in the Gaspésie region of Quebec. Assurances Claude Paquet's personal lines operations will begin operating as the newest Co-operators office, with Nathalie Paquet as Co-operators representative.

The portfolio includes approximately 3,200 insureds. Personal lines clients of Assurances Claude Paquet will be notified of the change in ownership, and their insurance coverage will remain in effect with no changes to their premiums or coverage for the current term of their policies. As the policies lapse, customers will be offered similar policies from Co-operators General Insurance Company. All staff of the brokerage's personal lines operations will be offered positions with The Co-operators. Assurances Claude Paquet will continue to operate as an independent broker, and its existing commercial insurance book of business will not be affected.

"We're very pleased to be building our presence in the Gaspésie region through the acquisition of such a well-established and respected brokerage", said Martin-Éric Tremblay, Senior Vice-President, Co-operators Group Ltd. and President, Quebec Operations. "Establishing Co-operators representatives throughout the province is an important part of our Quebec growth strategy".

The Co-operators is working to increase sales through all of its distribution channels in Quebec, which also include brokers, group plans, call centres and the internet. It offers a full range of insurance products and financial services in Quebec through its group of companies including Co-operators General Insurance Company, Co-operators Life Insurance Company, L'Union Canadienne, The Sovereign General, TIC Travel Insurance Coordinators and COSECO.

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