MONTREAL, Oct. 1, 2013 /CNW Telbec/ - A new team of shareholders made up of Martin Papillon, Chantal Dufresne and Gabriel Gagnon, all of whom are well known in the Quebec insurance and financial services industry, has acquired AGA Financial Group, held by La Capitale Insurance and Financial Services since 2005. This transaction takes effect today.
"We were looking for a good business opportunity, and that is what we have found in AGA Financial Group. As far as human, financial and technological resources are concerned, the strengths of this well-structured organization are undeniable. We are highly motivated to take on this challenge", said Martin Papillon, the company's new President and Chief Executive Officer.
"The unsolicited purchase offer for AGA Financial Group prompted some reflection concerning AGA's future as part of La Capitale Financial Group. We concluded that in the Group Insurance market, we want to remain active as an insurer and not as a distributor. We wish them the best success in the future," said Steven Ross, President and Chief Operating Officer, Life and Health Insurance and Financial Services sector, at La Capitale Financial Group.
About AGA Financial Group
Since its inception in 1978, AGA Financial Group has helped clients across Canada develop and administer tailor-made group insurance plans. Its clients include small-, medium- and large-size businesses, as well as financial security and group insurance consultants wishing to make a group insurance plan available to their clients. AGA has a Quebec-wide distribution network with some 90 employees, offices in Montreal and Quebec City, and approximately 1,500 clients.
About La Capitale Financial Group
La Capitale Financial Group has a strong presence across Quebec and throughout Canada. With over 2,900 employees, agents and advisors, and guided by the values of mutualism on which it was founded, La Capitale works with clients to build, protect and value what they feel counts for their financial security. It offers insurance products and financial services to the general public as well as to Quebec public administration employees. With assets of $4.7 billion, La Capitale occupies a choice position among leading insurers in Canada.
SOURCE: La Capitale Financial Group Inc.
For further information:
Mr. Martin Papillon
President and Chief Executive Officer
AGA Financial Group Inc.
Tel.: 514 812-3324
Ms. Manon Corneau
Communications and Public Relations Advisor
La Capitale Financial Group
Tel.: 418 644-4276 or 1 800 463-5549
Cell.: 418 955-2500