Harmonia Assurance and DPJL join La Turquoise
St-Eustache, QC (Jan. 6, 2024) – La Turquoise are proud to announce their alliance with Harmonia Assurance and DPJL effective January 1st 2025, creating one of Québec’s biggest general insurance firms and among the largest Intact Authorized Agencies in the province.
The merger of the three major Québec general insurance firms is an ambitious venture that will give these historically rich companies an even stronger and more engaged presence in the communities where they all have been established for decades.
With more than $525 million in premiums and more than 550 employees, the group will become a provincial leader, covering a vast territory stretching from Abitibi-Témiscamingue to the Laurentides, Lanaudière, Outaouais, Montérégie and Montréal regions. This strategic alliance will make it possible for the group to maintain high-quality jobs, provide exceptional local service, access cutting-edge technology and diversify its broad range of insurance products to meet all its customers’ needs.
The new group will be headed by Jean-François Desautels, current President of La Turquoise, who will be supported by an executive team drawn from the three organizations, including the other two Presidents, Annette Dufour (Harmonia Assurance) and Diane Joly (DPJL), who will now hold the positions of Senior Vice-President.
“By teaming up, we are broadening our range of general insurance services and products to better meet the specific needs of our regions,” says Mr. Desautels, “Because of our bigger team, clients will benefit from exceptional local service, supported by cutting-edge technologies for an enhanced client experience. We will be recognized as a trusted brand, capable of rising to the most daunting challenges, while maintaining high quality service.”
The three organizations will continue to serve their respective clients until the operational integration that will take place in the coming months.
Our priority is to share information and details of the plan with our employees and to maintain open communication with them. The existing branches and jobs will be maintained, even providing a provincial angle for some employees. Our ambition is to continue to grow our human capital by motivating top talent to join the organization.
“After more than 40 years of my involvement in the company, this partnership will enable DPJL to continue to thrive in its territory, offer quality jobs and obtain the tools we need to stand apart in an ever-more-competitive environment,” Ms. Joly remarks.
For her part, Ms. Dufour says this is an important opportunity for Harmonia Assurance. “Given the constantly changing market and increasingly complex challenges, it seemed to me that it would be a good idea to think a little further ahead and see what opportunities would enable us to see the bigger picture and ensure Harmonia’s strategic positioning over the long term. Always with the aim of providing quality jobs and securing the future of the company, which is well established in the region.”
The organization will become a benchmark for general insurance in Québec, recognized by clients, the community, suppliers and insurers, and the ideal place for current and future employees to fulfil their career ambitions.
“We want to be even more involved in our communities by being a key player and taking tangible actions for the good of society,” Mr. Desautels continues. “We are especially focused on everything to do with health, youth and the environment. This alliance will equip us with even more tools to play a significant role in our communities.”
Jean-François Desautels began his career in the insurance industry as a broker before joining Royal & Sun Alliance, where he held various senior management positions. In 2003, Mr. Desautels began his adventure at Intact, managing business development and claims. From 2014 to 2023, he served as Senior Vice-President of Intact Insurance’s Québec division before joining La Turquoise in January 2024 as President.
About Harmonia Assurance
Harmonia Assurance is the largest general insurance firm in the Abitibi-Témiscamingue region, with offices in Rouyn-Noranda, La Sarre, Amos and Val-d’Or. Harmonia was formed in 2014 from the merger of ADC Assurance Abitibi and CGL Assurance, as well as a number of acquisitions in the region dating back to 1929. Led by Annette Dufour, the company includes a commercial lines insurance practice, as well as an Intact Authorized Agency. With more than 100 employees and 31,000 clients, Harmonia Assurance ranks among the largest brokerages in Québec, and among the province’s top 200 SMEs.
About DPJL
DPJL, which combines the histories of several firms dating back to 1881, has four branches: in Châteauguay, Montréal, Vaudreuil-Dorion and Brossard. Diane Joly has been the company’s President since 2011. The firm includes business and personal lines insurance practices, as well as an Intact Authorized Agency. DPJL is one of the largest brokerages in Québec, with 110 employees and more than 50,000 clients.
About La Turquoise
Before the transaction, La Turquoise was an insurance and financial services firm with over 60 years of experience. The merger of La Turquoise with Groupe Cyr & Lyras in 2015 elevated the company to one of the five largest brokerage firms in Quebec. La Turquoise consisted of 350 employees spread across 9 offices (Gatineau, Joliette, Mont-Laurier, Mont-Tremblant, Saint-André-Avellin, Sainte-Agathe, Saint-Eustache, Saint-Sauveur, and Terrebonne) with 120,000 clients. With the transaction, La Turquoise now has 17 branches, totaling over 210,000 clients and more than 550 employees. For more information, visit www.laturquoise.ca.
SOURCE: La Turquoise
Tags: merger, Mergers & Acquisitions, Québec