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Benecaid acquired by Green Shield Canada


On Nov. 26, Green Shield Benefits Association, a part of the Green Shield Canada (GSC) group of companies, announced its acquisition of Benecaid.

GSC is Canada’s fourth-largest health and dental benefits provider, while Benecaid has been a leading provider of innovative group benefits solutions for Canadian small and medium-sized businesses for more than 20 years.

Combining leading technology solutions and track records of innovation, GSC and Benecaid will aim to leverage their previously individual strengths to collaboratively provide customers advanced solutions in benefits services and products.

“We’re excited about the completion of this transaction and advancing GSC’s broader business diversification strategy, specifically in benefits management,” said Zahid Salman, president and CEO of GSC.

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“Benecaid’s track record of service excellence, growth and innovation, including its Honeybee digital platform, make an excellent fit with GSC and will open a new world for our clients and partners to access both traditional and new insurance solutions.”

“I am very excited for all of us at Benecaid as we join the GSC family,” added Benecaid president and CEO Peter Berczi.

“The extensive synergies across platforms, distribution channels and human resources is truly a win-win. Being part of a Canadian success story like GSC, that focuses its energy on serving customers and creating social good, will be very inspiring and rewarding for our team.”

 

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