IDC Worldsource Insurance coverage Community Inc. Acquires MGA Property

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TORONTO, Oct. 04, 2021 (GLOBE NEWSWIRE) — Guardian Capital Group Restricted (Guardian) (TSX:GCG) (TSX:GCG.A) introduced as we speak that its subsidiary, IDC Worldsource Insurance coverage Community Inc. (IDC WIN), has acquired the life and medical insurance and segregated fund belongings of AFL Groupe Financier Inc. (AFL), a managing basic company (MGA) with its head workplace primarily based in Quebec Metropolis, Quebec.

Christian Laroche, President, Quebec Operations, IDC WIN, will assume management of AFL-related enterprise, with Lyne Lapointe, AFL’s present Govt Vice President, offering enterprise continuity to each the staff and affiliated AFL advisors.

“This transaction reinforces IDC WIN’s acknowledged purpose to be the first MGA within the impartial recommendation channel throughout Canada,” mentioned George Mavroudis, President and Chief Govt Officer, Guardian Capital Group Restricted.

“That is an thrilling subsequent step in IDC WIN’s strategic path,” famous Phil Marsillo, President, IDC WIN. “The addition of AFL’s enterprise will develop our attain in Quebec Metropolis, including to our already robust presence in Quebec and additional demonstrating our dedication to the province.”

“We’re extraordinarily enthusiastic so as to add to our rising IDC WIN household in Quebec, underneath the management of Christian Laroche,” mentioned Paul Brown, Chairman and CEO, IDC WIN.

The AFL workplaces will proceed to obtain full help from their management staff and employees, who share each a dedication to collaboration and a depth of {industry} information and expertise.

“We’re thrilled to turn out to be part of the IDC WIN household,” mentioned Ms. Lapointe. “We stay up for what we are able to accomplish collectively shifting ahead as a number one MGA in impartial recommendation.”

The transaction closed as we speak.

For additional data, please contact:

Angela Shim
(416) 947-8009

About Guardian Capital Group Restricted
Guardian Capital Group Restricted (Guardian) is a diversified, world monetary companies firm working in two predominant enterprise segments: Asset Administration and Wealth Administration. As at June 30, 2021, Guardian had C$52 billion of belongings underneath administration and C$30 billion of belongings underneath administration. Guardian offers intensive institutional and personal wealth monetary options to purchasers, whereas providing complete wealth administration companies to monetary advisors in its nationwide mutual fund supplier, securities supplier and insurance coverage distribution community. It additionally maintains and manages a proprietary funding portfolio with a good market worth of C$698 million at June 30, 2021. Based in 1962, Guardian’s fame for regular development, long-term relationships and its core values of trustworthiness, integrity and stability have been key to its success over six a long time. Its Frequent and Class A shares are listed on the Toronto Inventory Alternate as GCG and GCG.A, respectively. To be taught extra about Guardian, go to www.guardiancapital.com.

About IDC Worldsource Insurance coverage Community Inc.
IDC Worldsource Insurance coverage Community Inc. is one among Canada’s main life insurance coverage managing basic companies, servicing advisors throughout the nation, by means of partnerships with over 15 main insurance coverage carriers. IDC WIN prides itself on its service, information and dedication to the Canadian insurance coverage {industry}, bringing a pointy focus and distinctive requirements of operation to all areas of its processes. IDC Worldsource Insurance coverage Community Inc. is a division of Worldsource Wealth Administration Inc., a completely owned subsidiary of Guardian Capital Group Restricted.

About AFL Groupe Financier Inc.
AFL Groupe Financier Inc. (AFL) is a bunch insurance coverage and life insurance coverage managing basic company primarily based in Quebec Metropolis, Quebec, with over three a long time of historical past servicing the wants of Quebec-based advisors. AFL provides specialised experience within the life insurance coverage and group insurance coverage house. AFL works intently with a choose listing of industry-leading insurers providing a full vary of insurance coverage and funding merchandise.

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