Toronto, September 23, 2014 — Trisura Guarantee Insurance Company and L’Unique General Insurance are pleased to announce the acquisition by Trisura of L’Unique’s contract and commercial surety business in all provinces with the exception of Quebec. The deal provides Trisura with approximately 400 contract and commercial surety accounts with annual premium in excess of $3 million, and adds several knowledgeable surety experts to its growing surety operation. The management teams of both Trisura and L’Unique will work closely together to ensure a smooth transition of the business.
“Surety business outside of Quebec represents a small portion of L’Unique’s overall business and the sale will allow us to focus on the Quebec market. L’Unique will remain committed to growing its surety operation in the province of Quebec” says Mario Cusson, President and COO of L’Unique.
“The L’Unique surety business is a great fit for Trisura and allows us to further strengthen our position in the Canadian marketplace as a market leader in the small to mid-size contractor space. Our main focus will be to ensure a smooth transition with minimal disruption to our brokers and their clients” says Mike George, President & CEO of Trisura.
“The foundation of the construction industry in Canada is based on locally owned and managed contractors, many of which are small, but essential to the success of the industry. We believe the needs of smaller contractors are underserved in Canada and the acquisition aligns well with our strategy of enhancing services to this segment”, adds Chris Sekine, Senior Vice President, Surety at Trisura.
ABOUT TRISURA GUARANTEE INSURANCE COMPANY
Trisura Guarantee Insurance Company is a Canadian specialty insurance and surety company with offices in Toronto, Montreal, Calgary, Halifax, Quebec City and Vancouver. Trisura provides customized solutions and expertise through a select broker network and is uniquely positioned to satisfy mid-market risks in Contract Surety, Commercial Surety, Directors’ and Officers’ Liability, Fidelity, and Professional Liability including Media Liability. For more information, please visit www.trisura.com.
ABOUT L’UNIQUE GENERAL INSURANCE
As a member company of La Capitale Insurance and Financial Services, L’Unique distributes a complete line of insurance products through more than 350 independent brokers. L’Unique’s insurance products include Home and Auto, recreational vehicles, commercial insurance and surety in Quebec. For more information, please visit www.lunique.qc.ca.
Sandra Henkel, Vice President, Strategic Initiatives, 416-607-2092 or email@example.com
Bruno Perrino, Vice President, Commercial Insurance and Surety, 514-798-6517 or firstname.lastname@example.org