QUEBEC CITY, Sept. 9, 2021 /CNW Telbec/ - Wagner Bujold Leduc Benefits+Actuarial (WBL), a Quebec City company specializing in group insurance and actuarial services, and AGA Benefit Solutions, the Quebec leader in the development and administration of customized group insurance plans, are joining forces. The new group will be capitalizing on WBL's in-depth brokerage and analysis experience combined with AGA's exclusive and innovative products and services to develop new markets across Canada.
The two companies share a clear vision, strong values and an outstanding business sense. WBL's shareholders will remain shareholders and continue to exercise their leadership in the management of AGA, from the Quebec City office.
As of today, WBL clients will be able to benefit from AGA+PLUS, a service unique to AGA that provides simplified plan management, unparalleled flexibility, better control over drug costs and substantial economies of scale.
"The addition of WBL to our team puts us in an excellent position in our endeavour to explore new markets to expand into—a very clear goal that we share with our business partner Novacap. Offering our exclusive products and services to a greater number of clients while leveraging WBL's strength in its own market helps further our mission, which is to make group insurance and retirement plans more accessible and easier to manage," said Martin Papillon, President and CEO of AGA Benefit Solutions.
"Thanks to this merger, WBL will be able to expand its service offering to clients in addition to gaining access to new markets. Our entire team will work together with our new AGA colleagues to develop the company and distinguish it in our current markets and well beyond," said Alain Rivard, partner and CEO of WBL.
"At Novacap, we are passionate about companies that are guided by a strong vision and solid values, which is why we are delighted to see these two companies coming together today," said Marcel Larochelle, Managing Partner at Novacap. "The combination of AGA and WBL will make them even stronger and cement their status as a key group-insurance provider at the national level. We look forward to supporting them throughout this process, leveraging our assistance and expertise to help them achieve their goals."
The merger brings the number of AGA Benefit Solutions employees to 130 and the number of existing clients to more than 1,600, reflecting AGA's leading position in group insurance in Quebec.
About AGA Benefit Solutions
With offices in Montreal and Quebec City, AGA Benefit Solutions is the Quebec leader in the development and administration of customized group insurance plans, and also specializes in group retirement plans. For more than 40 years, thanks to innovative tools and unmatched customer service, AGA Benefit Solutions has been supporting more than 65,000 members with the management and adjudication of their medical, dental and other claims.
To find out more, visit aga.ca/en/.
About WBL Benefits+Actuarial
Far more than a broker, Wagner Bujold Leduc Benefits+Actuarial strives to become a partner in the human and financial growth of its clients. For over 30 years, the company has provided its clients with a team of group insurance brokers and seasoned actuaries to negotiate plans with insurers that meet their exact needs. These years of experience have inspired the organization to go from a brokerage vision to an actuarial vision premised on in-depth analysis and services that exceed expectations. To find out more, visit https://assurancescollectives.com/en/.
About Novacap
Founded in 1981, Novacap is a leading Canadian private equity firm with more than C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in TMT, Industries and now Financial Services, Novacap's deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial funding, Novacap has the resources and knowledge to build world-class businesses. Novacap has offices in Brossard, Québec and Toronto, Ontario. For more information, please visit www.novacap.ca.
SOURCE Novacap Management Inc.
Martin Papillon, AGA Benefit Solutions, 514-935-5444, ext. 2003, [email protected]; Alain Rivard, WBL Benefits+Actuarial, 418-621-8090, ext. 1390, [email protected]; Yasmine Sardouk, Novacap, 450 651-5000, [email protected]
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