Date Announced

March 27, 2024

Lead Office

Montréal

On March 27, 2024, Desjardins General Insurance Group Inc. (DGIG) announced its entrance into a definitive agreement with ICPEI Holdings Inc. ("ICPEI Holdings") to indirectly acquire all of ICPEI Holdings issued and outstanding shares.

The acquisition will allow DGIG to add "The Insurance Company of Prince Edward Island", a subsidiary of ICPEI Holdings Inc.'s, home, auto and commercial insurance activities to its operations.

ICPEI Holdings, located in, Mississauga, Ontario, operates in the Canadian property and casualty industry through its subsidiary, The Insurance Company of Prince Edward Island (ICPEI). ICPEI provides Commercial and Personal lines insurance products exclusively through insurance brokers. 

DGIG, headquartered in Montreal, Quebec, is a component of the Desjardins Group, the largest federation of credit unions in North America.

McCarthy Tétrault is advising DGIG with a team led by Hadrien Montagne (Business) and includes Isabelle Nazon, Janie L.-Roy, Thierry Côté (Mergers & Acquisitions), Marie-Soleil Landry, Alexandra Carbone (Tax), Dominic Thérien (Competition), Sonia Struthers and Hartley Lefton (Regulatory).