La Capitale Financial Group has obtained $150 million in financing from Caisse de dépôt et placement du Québec (CDPQ).
The transaction will provide La Capitale with additional capital “to continue to grow and support its strategic development plan,” a release said.
“La Caisse is delighted to partner with La Capitale, a Québec insurance leader,” commented CDPQ executive vice-president of fixed income Marc Cormier. “Because of its resilience to economic cycles and the stable, long-term-oriented returns it generates, the insurance sector is perfectly in line with the investment profile sought by La Caisse.”
La Capitale operates across Canada as a personal, property, and casualty insurer. In addition to offering products to the public, the company is also the dedicated insurer of numerous workers in Quebec’s public service.
Last December, the president and COO of La Capitale’s P&C division, Constance Lemieux, announced her retirement. She will be succeeded by Christian Fournier, the current VP of claims at La Capitale General, on February 26 this year.
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