PBI Actuarial Consultants Ltd. acquires PENSUL Inc.


PBI Actuarial Consultants Ltd. (PBI) and Pensul inc. (Pensul) announced today that they have reached an agreement. Following the transaction, Pensul’s employees, products, and systems will be integrated with those of PBI. The integration is scheduled for October 1, 2015.

Headquartered in Montreal, Pensul provides investment consulting services for pension funds, endowment funds, and institutional investors.

“This transaction will allow us to strengthen our expertise and expand our activities in Quebec, while integrating a team with solid experience in securities and alternative investments. It will place the company in an excellent position for further growth,” said Nathalie Jutras, Senior Consulting Actuary and Managing Consultant of the Montreal office.

“We are enthusiastic to join the ranks of PBI,” said Frédéric Belhumeur, Senior Associate at Pensul. “This integration will allow us to offer quality services to our clients by joining a well-established and experienced team of risk and investment experts.”

PBI is majority owned by twelve senior associates, including Pierre Bergeron and Nathalie Jutras. After the closing of the transaction, offices in Montreal, Toronto, and Vancouver will have more than 75 employees.

For more information, please visit:


Nathalie Jutras
PBI Actuarial Consultants Ltd.
(514) 317-2340
Frédéric Belhumeur
Pensul Inc.
(514) 288-5900


View the official press release here.