Worldsource Insurance Network Inc. (IDC WIN) acquired the life and health insurance assets and assets of the general agency management segregated fund of AFL Groupe Financier Inc.
Phil Marsillo, president of IDC WIN, said in a press release Monday that the addition of Quebec-based MGA assets will expand the company’s footprint in the province and demonstrate its commitment to Quebec.
“This transaction reinforces IDC WIN’s stated goal of being the premier MGA in the independent advisory channel across Canada,” said George Mavroudis, president and CEO of IDC WIN’s parent company, Guardian Capital Group Ltd.
Christian Laroche, president of IDC WIN’s Quebec operations, will assume leadership of the AFL business. Lyne Lapointe, current executive vice-president of the AFL, will ensure business continuity for both the team and affiliated AFL advisors.
The deal closed on Monday.
IDC WIN performed well in this year’s edition Investment Director‘S Insurance adjuster report card.
Of the seven insurance companies surveyed, IDC WIN received the second highest IE rating. When it comes to advisors rating MGA products and support for affluent clients, IDC WIN ranked second among the four MGAs surveyed.
Thanks to Monday’s acquisition, IDC WIN has expanded its product shelf.
