Canadian insurer iA Financial Group has acquired ABEX Brokerage Services and its subsidiary ABEX National Brokerage.
Founded in 1986 by Duaine and Lorraine Miller, ABEX is a managing general agency supporting independent insurance advisors in western Canada.
Through its offices in Alberta and British Columbia, the acquired firm offers support and service to advisors in the broad market.
ABEX is currently managed by Kevin Miller and Carissa Seguin.
“We are pleased and excited to continue supporting our independent advisors as part of a strong, national organization. We are confident that this transaction will ensure a strong, stable future for our advisors,” Miller said.
All operations of ABEX will be fully integrated and assumed by PPI, a subsidiary of iA Financial, effective immediately.
iA Financial Group COO Denis Ricard said: “With the acquisition of ABEX, iA Financial Group continues to grow its insurance brokerage distribution in Canada.
“Our subsidiary, PPI, will provide these advisors with best-of-class, expanded services for both insurance and wealth management. In addition, the PPI Advisory division that focuses on ultra high-net-worth clients brings new tools and opportunities for ABEX advisors.”
PPI Solutions president and CEO Jim Virtue said: “On behalf of PPI and iA Financial Group, we extend a warm welcome to ABEX advisors and staff. This acquisition continues to demonstrate iA Financial Group’s firm belief in the value of distribution through independent advisors, and we look forward to supporting ABEX’s advisors with PPI’s full range of marketing, technology, underwriting, education and planning tools.”