Quebec-based brokerage La Turquoise has announced its merger with Harmonia Assurance and DPJL, effective Jan. 1, 2025.
The triple merger in Quebec will create one of the largest brokerage firms in the province.
La Turquoise — which conducts business mainly in St-Eustache, Joliette and Gatineau, Que., and holds over 55 years’ experience as a brokerage — says the merger will bring its premium total to $525 million, and more than 550 employees.
Harmonia Assurance is the largest insurance firm in Quebec’s Abitibi-Témiscamingue region. The brokerage offers personal and commercial lines insurance, as well as financial services. The company was formed in 2014 from the merger between ADC Assurance Abitibi and CGL Assurance, and dates back to 1929.
DPJL, which dates back to 1881 and has four branches across Quebec, offers both personal and commercial brokerage solutions. The brokerage holds a large presence in the province and has more than 110 employees.
La Turquoise says the merger will enable the brokerage to cover territory stretching the Abitibi-Témiscamingue, Laurentides, Lanaudière, Outaouais, Montérégie and Montréal regions. All three brokerages are Intact authorized agencies.
“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 company says.
The three brokerages will be integrated in the next few months, and in the meantime will continue to service clients.
“Our ambition is to continue to grow our human capital by motivating top talent to join the organization,” La Turquoise says.
“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.”
For its part, La Turquoise has a history of successful mergers, and in 2015 merged with Groupe Cyr & Lyras, which brought the company up into the top five brokerage space in Quebec. The most recent mergers will build on that upward mobility.
Feature image by iStock.com/ojogabonitoo
