Summary#
Private Bill No. 202, presented by Kariane Bourassa, would allow the merger of Beneva Mutual and Gore Mutual Insurance Company.
The bill outlines several steps:
- Gore Mutual Insurance Company would continue to exist under the Quebec mutual insurance company regime.
- It would then be transformed into a mutual participation corporation, under the name Gore Insurance Company.
- A new mutual legal entity, Gore Management Mutual, would hold the shares of this company.
- Gore Management Mutual would then merge with Beneva Mutual. The members of Gore Management Mutual would become members of Beneva Mutual.
- Gore Insurance Company could eventually merge with Unica Assurances Inc. by January 1, 2027, subject to the required approvals.
The bill also provides for specific governance rules, shareholding, and oversight by the Autorité des marchés financiers. It would also amend the law governing Beneva Mutual to account for its new mutual participation insurers.
The members of Beneva and Gore have already approved the organizational agreement and the presentation of the bill by favorable votes of at least two-thirds, according to the bill's preamble.
What This Means for You#
- Holders of an insurance contract with Gore as of December 30, 2025, would become members of Gore Mutual Insurance Company, except for subrogated holders.
- After the transformation and merger, their membership rights would be maintained within Beneva Mutual.
- The bill specifies that the continuity of contracts, obligations, rights, and legal proceedings would not be interrupted by these changes.
- The transformation and merger would not be considered a transfer of insurance contracts or members' property rights.
- Beneva's governance would change to include two additional directors from Gore, according to the organizational agreement.
- Gore's insurance activities would be carried out by a corporation, while the participation and rights of members would be consolidated within Beneva's mutual structure.
- The Autorité des marchés financiers would retain a supervisory role and must maintain the authorization to conduct insurance activities.
The bill does not describe any specific changes to premiums, protections, or specific conditions of insurance contracts.
Costs#
No publicly available information.
The bill does not specify any cost for policyholders, members, or the government. It also does not create, in the provided text, any new public program or specific government budget expenditure.
Supporters' Viewpoint#
Proponents of the bill argue that the merger would bring together the members of Beneva and Gore within a single mutual legal entity.
The bill also aims to enable a reorganization that could not be achieved solely under the current laws governing the two organizations.
The main reasons put forward in the text are:
- to preserve existing rights and obligations;
- to ensure the continuity of Gore's insurance activities;
- to integrate Gore into Beneva's mutual participation structure;
- to facilitate a potential merger between Gore Insurance Company and Unica Assurances Inc.;
- to establish clear rules for governance and shareholding.
No distinct public statement from groups or individuals in favor is provided in the available material.
Opponents' Viewpoint#
No publicly available information.
The provided material does not present any specific objections to the bill or a public position from a group opposing it.