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Novacap to Acquire Majority Interest in GroupAssur
Thursday 17 September 2020

Canadian private equity firm Novacap Management Inc. has agreed to acquire a majority interest in Canadian MGA (managing general agent) GroupAssur Inc., specialising in the Property and Casualty insurance lines, to support GroupAssur in developing new products and diversify its markets, the company said.

Terms of the transaction were not disclosed.

GroupAssur provides comprehensive, innovative, and efficient insurance solutions to its country-wide network of Canadian brokers.

The acquisition of GroupAssur represents an opportunity to drive additional growth through M and A and development of new markets across Canada and beyond.

GroupAssur provides underwriting services for complex insurance policies on behalf of Canadian insurance carriers, international insurance carriers, and Lloyd's of London insurance syndicates.
Date Published: 17/09/2020