Quebec brokerage acquires firm’s personal insurance portfolio

Quebec-based P&C brokerage and financial services firm Ellipse Insurance has acquired the personal insurance portfolio of Synex Auto Habitation.

“This acquisition of Synex Auto Habitation’s portfolio is strategic for Ellipse,” says the firm’s president Patrice Jean in a press release last week. “It enables us to significantly strengthen our presence in the Montréal market while reinforcing Ellipse’s position as a major player in property and casualty insurance in Québec.”

Ellipse was founded in 2024 after the merger of PMA Assurances and PMT ROY Assurances et services financiers. The firm has more than 30 offices in Quebec, and since its founding has experienced strong growth by focusing on both organic expansion and “targeted, well-considered acquisitions such as this one,” the release says.

Employees of Synex Auto Habitation will join Ellipse’s extensive network of experts. Synex Auto Habitation provides home, tenant and auto insurance.

The acquisition aligns with Synex Assurance’s strategic direction to strengthen its performance and market positioning in commercial insurance.

“Our strategic plan in Québec focuses on concentrating our efforts on the segments where we generate the greatest value and where growth prospects are the strongest,” says Synex Assurance president Yan Charbonneau. “That said, it was essential for us to partner with an organization capable of ensuring rigorous continuity for our clients while recognizing the value of our teams.

“Ellipse emerged as a natural partner.”

This last acquisition “represents a significant competitive advantage for Ellipse, supporting both future acquisitions and sustained business development,” the brokerage says in the release.

Last August, Ellipse acquired AccèsConseil Assurances et services financiers. At the time, Jean said the acquisition “opens the door to new regions of Québec.”

AccèsConseil served the Greater Québec City area and the Côte-Nord region, offering coverages such as home, auto, recreational vehicle, umbrella, travel and various commercial insurance products.

For its part, Ellipse offers home, auto, recreational vehicle and commercial insurance. It also provides financial services, including financial planning, savings and investments, and group benefits/pension plans, among others.