QUÉBEC, Dec. 7, 2023 /CNW/ - PMT ROY Assurances et services financiers ("PMT ROY") today announced its merger with PMA Assurances ("PMA") based in the Mauricie and Eastern Townships regions. The combination of these two major players in the damage insurance industry creates the second largest player in personal and commercial insurance sales and advice in Quebec.
Patrice Jean, President of PMA, becomes President of the new organization, which he will lead along with André Phan and Steve Martin, both Senior Vice-Presidents. "Combining the strengths of PMT ROY and PMA will enable us to offer additional advisory services and an enhanced range of products, as well as multiple and diversified career opportunities for our employees, while maintaining our local presence," says Patrice Jean.
At the same time, André Roy, President of PMT ROY, announced his retirement after a 40-year career with PMT ROY, including 12 years as President. André Roy emphasizes: "I am leaving PMT ROY extremely proud of what we have achieved. I am confident that our extraordinary team will contribute to the success of the new organization."
This new organization will have over 500 employees, spread across 27 branches in eight administrative regions of Quebec. The pooling of each company's resources will take place gradually over the course of 2024. This will be facilitated by the fact that PMT ROY and PMA use identical IT systems and share a similar vision in terms of business development.
The transaction will take effect on January 1, 2024 if all the conditions are met.
PMT ROY is an insurance and financial services firm with a solid reputation spanning 95 years. Driven by the pride of being a Quebec-owned business, the firm provides its services through a network of 16 branches stretching from Montréal to the Magdalen Islands. Today, PMT ROY employs nearly 280 people who, every day, apply expertise and passion to advise customers on their choice of insurance protection.
PMA Assurances is a property and casualty insurance and financial services firm that supports individuals, businesses, groups and associations by offering them a range of products and services from Canada's leading companies. For 94 years, its team of brokers has been providing advisory services designed to exceed customer expectations by meeting their needs in surety bonds, group insurance, specialized risks, financial planning and all areas of property and casualty insurance.
SOURCE PMT Roy assurances et services financiers
Gabrielle Roy, Marketing and Communications Director, 1-866-780-0808 Extension 35169, [email protected]
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