Quebec's development capital organisation, the Fonds de solidarité FTQ, says it is prepared to become involved in the Genstar / Financial Horizons Group deal should the need arise.

"We will support any Quebec company directly insofar as it strengthens or diversifies its presence in Quebec or across Canada," said Fonds president and CEO Gaétan Morin in an interview with The Insurance and Investment Journal. "The Fonds knows the insurance and financial services industry, since it already has investments in SSQ Life Insurance Company, Humania Insurance, Multi-Prêts Group, Excellence Life Insurance, as well as Industrial Alliance Insurance and Financial Services."

The private equity company Genstar has decided to sell its 75% stake in Horizons Financial Group.