Canassurance Financial Corporation, a subsidiary of the Canassurance Hospital Service Association, announced that it has recently acquired SecuriGlobe, a travel insurance financial services firm.
In an announcement shared with Insurance Portal July 7, the company said the deal “consolidates the Canassurance Hospital Service Association’s leadership role in the travel insurance industry while strengthening its economic and commercial footprint in the sector.”
Sylvain Charbonneau, president of Canassurance Financial Corporation, stated that the acquisition fits the organization’s business model, aimed at diversifying its activities. “In particular, it will enable the company to achieve its strategic objectives while maintaining SecuriGlobe’s autonomy and its value proposition to clients, insurer partners, and brokers,” he said.
Canassurance underlined that “the purpose of the transaction is not to reduce the number of employees at either of the corporate entities. SecuriGlobe retains its status as a standalone financial services firm and will continue to honour its commercial agreements to offer clients the products provided by its various insurer partners, with no obligation of exclusivity or preference.”
François Morin, SecuriGlobe’s managing director, said the company will retain its identity, team, and distinctive offering. “Our shared vision of the market and of the challenges facing travel insurance will enable SecuriGlobe to continue its development and offer clients the best products available. This acquisition by Canassurance Financial Corporation is very much a part of a growth dynamic,” he said.
