Three Quebec group insurance and employee benefits firms are joining forces to create a new subsidiary, with a new name and brand identity set to launch in October.
Ellipse Insurance, BCH Collectif and Orchestro assurance et rentes collectives announced the partnership on Sept. 3. The Trois-Rivières, Que.-based deal combines the three firms’ products, expertise and technology into a single organization focused on group insurance and employee benefits.
“The creation of this new subsidiary is perfectly aligned with Ellipse’s growth and business development vision,” said Patrice Jean, president of Ellipse Insurance. “Through this subsidiary, we are strengthening our 360-degree offering for our clients. They will benefit from the combined expertise, resources, and technological innovations of our organizations.”
“Not only are our services, tools, and territories highly complementary, but so too is our vision of what a specialized group insurance and employee benefits firm should be,” said Suzanne Fortin, president of Orchestro Group assurances et rentes collectives.
Fortin, who founded Orchestro, will stay on as a partner while shifting more of her time toward an advisory role supporting the organizations she works with. Clément St-Laurent, a shareholder and vice-president of business development at Orchestro, will continue as an independent business development advisor, working to maintain relationships with clients and partners.
Louis Lamontagne, founder of BCH Collectif, will remain involved as an advisor to his clients. Jonathan Bolduc, vice-president of BCH Collectif, will join the new organization’s board of directors.
Leadership of the new subsidiary will fall to three people: Jean-Simon St-Laurent, director of operations at Orchestro; Jonathan Laverdière, director of finance at Orchestro; and Jean, the Ellipse Insurance president.
“I am honoured to take part in the creation of a strong, ambitious, and future-focused organization alongside our teams and partners,” said St-Laurent. “This new chapter represents a unique opportunity to continue our mission while creating even greater value for our clients.”
The companies said clients will keep working with their existing advisors and will be among the first to see the benefits of the alliance. Employees from all three firms will move into the new subsidiary and will have access to the opportunities created by the partnership.
