The acquired firm sells personal and commercial lines insurance.

Before this purchase, the reinsurer owned 9.88 per cent of the company’s common shares.

The firm is the latest in a series of acquisitions.

The acquired brokerage provides clients with home, auto, business and farm insurance.

An American private equity firm takes the lead.

Desjardins made the announcement public on Feb. 23, 2024.

Majority of private defined benefit pension plans in Canada remain unsecured by annuities.