On February 26, 2018, Industrial Alliance Insurance and Financial Services Inc. (“iA Financial Group” (TSX: IAG)) acquired PPI Management Inc. (PPI), a leading Canadian insurance marketing firm.
With this acquisition, iA Financial Group becomes the leader in insurance brokerage distribution in Canada.
The acquisition of PPI takes effect immediately. PPI is one of the largest insurance marketing and distribution organizations, helping independent advisors in Canada. Its national distribution network has over 3,000 advisors in 15 offices across Canada.
Considering the HollisWealth network acquired last year, iA Financial Group is now the leader in the distribution of independent financial services in Canada, offering insurance and wealth management services under the same banner. In addition, the PPI Advisory division that focuses on ultra high-net-worth clients brings a significant enhancement to iA Financial Group wealth advisors.
Our team of lawyers at Fasken advised iA Financial Group in relation to this acquisition transaction: Jean G. Morency (leader and negotiator), Sophie Lessard Berger (Corporate Law), Charles-Antoine Dorion (Corporate Law), Peter Mantas (Ottawa, Commercial Litigation)
