On November 13, 2015, iA Financial Group (Industrial Alliance Insurance and Financial Services Inc.) announced the signing of an agreement to acquire the operations of BBA Financial Group (BB), a Quebec company.
BBA is a brokerage firm that specializes in the distribution of life and health insurance products. BBA, which has over 200 representatives, thus becomes a division of the National Financial Insurance Agency Inc. (NFIA), a wholly-owned subsidiary of Investia Financial Services Inc., which is itself a subsidiary of iA Financial Group. Through this strategic acquisition, NFIA continues to grow and confirms its rank among the major players in the Canadian industry.
This transaction reflects iA Financial Group’s growth strategy, which focuses on expanding its distribution network in its retail and wealth management operations.
Our Fasken team composed of Jean G. Morency (leader and negotiator) and Sophie Lessard Berger (Corporate Law) advised iA Financial Group on this strategic acquisition.
