Nouvelles et évènements

AGA Benefit Solutions acquires PPI Benefits, expands nationwide

October 05, 2021

AGA Benefit Solutions, in partnership with Novacap, is pleased to announce the acquisition of PPI Benefits, including its subsidiaries Agile Benefits and BenefitsMyWay. PPI Benefits was a subsidiary of PPI, a leading national insurance marketing organization and subsidiary of iA Financial Group.

 

AGA Benefit Solutions, in partnership with Novacap, is pleased to announce the acquisition of PPI Benefits, including its subsidiaries Agile Benefits and BenefitsMyWay. PPI Benefits was a subsidiary of PPI, a leading national insurance marketing organization and subsidiary of iA Financial Group.

With this acquisition, the Montreal-headquartered AGA becomes one of the largest group insurance and annuity firms in Canada, with offices in Quebec City, Montreal, Kitchener, Edmonton, Calgary, and St. John (NB), and approximately 180 employees across the country. PPI Benefits’ activities will hence forth continue under the banner of AGA Benefit Solutions.

The acquisition further strengthens AGA’s portfolio of products and services with the group insurance innovations developed by PPI Benefits and gives new impetus to its growth. AGA will benefit from a highly efficient digital platform, which together with its unique AGA +PLUS service, will further enable simple, flexible, and cost-efficient management of group insurance plans.

“This is excellent news for AGA, but also for the team and customers of PPI Benefits, who will be supported even further by our resources in all areas of expertise. We are also pleased to welcome Ed Hofstede, who will lead AGA’s operations outside of Quebec as Vice-President, and PPI Benefits’ staff, into our big family.
This acquisition cements our leadership position in the Quebec market while making major strides in the rest of Canada by giving thousands of customers access to our combined portfolio of products and services,” said Martin Papillon, President and CEO of AGA.

“This sale allows us at PPI to focus on our core business of life and health insurance and provide better support to independent advisors,” said Jim Virtue, President and COO of PPI, “the PPI Benefits team now has a tremendous opportunity to grow and take on new challenges with AGA.”