Desjardins General Insurance Group Inc. indirectly acquires ICPEI Holdings Inc.

On June 3, 2024, Desjardins General Insurance Group Inc. (DGIG) indirectly acquired all of ICPEI Holdings issued and outstanding shares.

The acquisition allows 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 advised DGIG with a team led by Hadrien Montagne (Business) and included Isabelle Nazon, Janie L.-Roy, Thierry Côté (Mergers & Acquisitions), Marie-Soleil Landry, Alexandra Carbone (Tax), Dominic Thérien (Competition), Sonia Struthers and Hartley Lefton (Regulatory).