What Novapro Assurance does

Novapro Assurance Inc. is a privately held Managing General Agent (MGA) insurance wholesaler headquartered in Montreal, Quebec. Founded in 2011 as Aldégo Assurance and rebranded to Novapro Assurance on May 1, 2017, the company designs and distributes seven specialized insurance programs — Aldégo Bateau (pleasure craft), Atlantis Voilier (sailboats), Vintage Classic and Vintage Custom (antique and modified vehicles), Esthétika (beauty and wellness professionals), Métiers Spécialisés (specialized construction trades), and Concessionnaires Véhicules Récréatifs (recreational vehicle dealers) — through a network of over 600 independent insurance brokerages across Quebec. The company represents four insurance carriers — Intact Assurance, Economical, Northbridge, and Lloyd's of London — and earns transaction-based MGA commissions on premiums placed through its broker channel for hard-to-place specialty risks that mainstream insurers typically decline.

The company's value proposition centers on underwriting expertise in niche, non-standard risks (agreed-value coverage for vintage vehicles without depreciation, professional liability for beauty treatments, civil liability up to $5M for specialty trades, and commercial packages for RV dealers). Its go-to-market is exclusively indirect: products reach end customers only through Quebec-based independent insurance brokers, with no direct-to-consumer channel. Marketing is conducted via LinkedIn presence and email newsletters to broker partners. Core technology is not disclosed and no proprietary technology platform is described in available materials; the business appears to be operations- and relationship-driven rather than technology-driven.

The revenue model is commission-based MGA economics: Novapro earns underwriting commissions on premiums placed with its carrier panel, with pricing determined by individual risk assessment at the broker level. The company operates with 1-10 employees, serves the Quebec market with secondary North America signals, and maintains geographic underwriting restrictions (e.g., right-hand-drive imports excluded, certain hull materials excluded from sailboat program). No funding rounds, M&A activity, or institutional ownership are disclosed, and the company appears to be independently owned.

Name

Novapro Assurance

Legal name

Novapro assurance Inc.

Website

https://novapro.ca

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Novapro Assurance is a Montreal-based MGA insurance wholesaler that distributes seven specialized insurance programs — for pleasure craft, vintage vehicles, beauty professionals, specialty trades, and recreational vehicle dealers — through 600+ independent Quebec brokerages on behalf of Intact, Economical, Northbridge, and Lloyd's.

Ownership category

akta.pro rank

Product category

Specialty Insurance Wholesaling

NAICS

Other Insurance Related Activities (52429), Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

akta.pro secondary industries

Commercial General Liability (CGL) (FSAJADAA), Commercial Auto & Fleet Liability Insurance (Primary) (TLABANAA), Product Liability Umbrella / Excess (FSAJANAI), Mid-Market Commercial Package (Package Policies) (FSAJAFAB)

Keywords

• Specialty insurance programs
• Wholesale insurance brokerage
• Managing general agent
• Niche insurance underwriting
• Hard-to-place insurance

Headquarters

HQ city

Montreal

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Wholesale/MGA Commissions: As an MGA wholesaler, Novapro Assurance earns commissions from insurance carriers (Intact Assurance, Economical, Northbridge, Lloyd's) for placing specialized insurance products through their broker network. Revenue is generated through underwriting commissions on insurance premiums collected from policyholders.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Novapro Assurance is a Quebec-based insurance Managing General Agent (MGA) wholesaler that designs and distributes seven specialized niche insurance programs through a network of 600+ independent insurance brokerages. Its products cover hard-to-place risks including pleasure craft, sailboats, vintage and modified vehicles, beauty industry professional liability, specialized construction trades, and recreational vehicle dealerships. Revenue is earned through underwriting commissions paid by carrier partners (Intact Assurance, Economical, Northbridge, and Lloyd's of London).

Product overview

Novapro Assurance is a wholesale insurance Managing General Agent (MGA) founded in 2011 (as Aldégo Assurance) and rebranded in 2017. The company distributes its products exclusively through a network of over 600 independent insurance brokerages in Quebec. Its portfolio comprises seven specialized insurance programs: (1) Aldégo Bateau for pleasure craft and motorboats, (2) Atlantis Voilier for sailboats, (3) Vintage Classic for unmodified antique/classic vehicles 25+ years old, (4) Vintage Custom for modified/hot rod vehicles 15+ years old, (5) Esthétika for beauty and wellness professionals, (6) Métiers Spécialisés for construction industry specialty trades, and (7) Concessionnaires Véhicules Récréatifs for recreational vehicle dealers. The company represents four insurers: Intact Assurance, Economical, Northbridge, and Lloyd's of London.

Differentiator

Problem solved

Functional benefit

Products and services

• Aldégo Bateau Comprehensive insurance program for pleasure craft of all categories, including fishing boats, personal watercraft, high-performance vessels, and cruisers. Offers agreed-value coverage without depreciation on partial losses (5 years for PWCs, 15 years for fishing boats), $2,000,000 civil liability, and maritime assistance through Intact Assurance. Distributed through Quebec insurance brokerages.
• Atlantis Voilier Specialized sailboat insurance program accepting fiberglass, steel, and aluminum hulls. Provides agreed-value coverage without depreciation on partial losses (20 years for hull, 5 years for sails), $2,000,000 civil liability, and navigation area restricted to between 40th and 52nd parallel. Distributed through Quebec insurance brokerages.
• Vintage Classic Insurance program for original, unmodified antique and classic vehicles aged 25 years and older, as well as special-value vehicles aged 15–24 years. Vehicles must not be used as primary transportation and must be stored in Quebec. Includes agreed-value coverage and Intact Assurance roadside assistance.
• Vintage Custom Insurance program for modified, customized, and hot rod vehicles aged 15 years and older. Covers vehicles with custom paint, kit cars, hot rods, and rat rods that are not used as primary transportation. Includes agreed-value coverage and Intact Assurance roadside assistance.
• Esthétika Insurance program developed in partnership with Lloyd's of London for beauty and wellness industry professionals. Covers hairdressing, cosmetics, aesthetics, electrolysis, manicure, lash extensions, massage therapy, photo-epilation, spray tanning, teeth whitening, foot care, micro-pigmentation, spas, and training schools. Includes professional liability (errors and omissions) coverage.
• Métiers Spécialisés Civil liability insurance program for specialized trades in the construction industry. Covers over 40 eligible trades including landscaping, electrical, plumbing, painting, tiling, carpentry, and appliance repair. Coverage up to $5,000,000 civil liability, with property coverage options for tools and equipment. Maximum $1M revenue threshold applies.
• Concessionnaires Véhicules Récréatifs Comprehensive insurance program for recreational vehicle dealers covering motorcycles, snowmobiles, ATVs, occasional watercraft sales, trailer sales, vehicle storage, and accessory rental. Includes property coverage, crime insurance, cyber risk insurance, equipment breakdown, garage keeper's legal liability, and garage automobile insurance (FPQ4).

Quantifiable outcome

• Over 600 independent brokerages distributing Novapro products

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core.

• Intact AssurancecoreTechnology or IntegrationPrimary insurance carrier partner providing coverage for Novapro's pleasure craft insurance programs including the Aldégo and Atlantis products. Intact also provides roadside assistance for vintage vehicle policies.
• NorthbridgecoreTechnology or IntegrationInsurance carrier partner listed as one of the best insurers represented by Novapro Assurance.
• Lloyd's of LondoncoreTechnology or IntegrationInternational insurance market partner providing capacity for specialized insurance products including the Esthétika beauty industry program and Métiers Spécialisés liability coverage. Lloyd's provides the financial backing and underwriting expertise for these niche specialty lines.
• EconomicalcoreTechnology or IntegrationInsurance carrier partner providing coverage options for Novapro's specialty insurance products.

Scale indicators2 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Aviva Canada: Major Canadian P&C insurer with broker distribution. Comparable as a broad incumbent competing for the same broker relationships Novapro relies on, particularly in Quebec.
• Beneva: Quebec-based mutual insurance cooperative formed via merger. Comparable as a large Quebec-headquartered incumbent with overlapping broker relationships in the same regional market.
• Intact Financial Corporation: Canada's largest P&C insurer and a core carrier partner of Novapro. Comparable as a broad incumbent offering mainstream P&C lines that complement Novapro's specialty MGA offerings.
• Economical Insurance: Canadian P&C insurer and carrier partner to Novapro. Comparable as a broader carrier providing capacity that complements Novapro's specialty MGA programs.
• Northbridge Insurance: Canadian specialty-commercial insurer and carrier partner to Novapro. Comparable as a broader specialty carrier offering overlapping capacity for some of Novapro's hard-to-place risks.

Direct peers

• Markel Canada: Specialty insurer offering marine, classic car, and commercial niche products. Directly comparable to Novapro across pleasure craft, vintage vehicles, and specialty trades underwriting.
• Mitchell & Abbott Insurance Managers: Canadian specialty MGA providing niche commercial insurance products through broker distribution. Comparable to Novapro's MGA structure serving hard-to-place risks via independent broker channels.
• Hagerty: Specialty insurer focused on classic and collector vehicles with agreed-value coverage. Closely comparable to Novapro's Vintage Classic and Vintage Custom programs for antique and modified vehicles.
• Magnera: Canadian MGA platform aggregating specialty insurance programs distributed through broker networks. Highly comparable to Novapro's MGA wholesaler model serving independent brokers across multiple specialty lines.
• Club Marine Insurance: Specialty marine/powerboat insurer. Directly comparable to Novapro's Aldégo Bateau and Atlantis Voilier pleasure craft and sailboat programs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/novapro-assurance

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Novapro Assurance