Investment Firm Sees Bright Future for New Player in Emerging InsurTech Space

TORONTO--()--Mill Street & Co. ("Mill Street"), is proud to announce that it has completed the acquisition of Tuque Inc. (“Tuque”).

“Joining Mill Street is like adding rocket fuel to our engine – we’re now fully set to take off.”

Tuque is a new entrant to the emerging InsurTech space. Tuque is leveraging advanced technology and bringing a disruptive digital approach to personal and commercial insurance in Canada. At the same time Tuque will be introducing innovative insurance products to the Canadian marketplace. Tuque will officially launch in the first quarter of 2017.

“Mill Street brings a wealth of resources and expertise to Tuque that will dramatically enhance our market value, while also providing a solid foundation from which we can continue to develop build a sustainable business that is built for long-term success,” states Shaun Bagchi, Tuque’s President. “Joining Mill Street is like adding rocket fuel to our engine – we’re now fully set to take off.”

Mill Street President Noah Murad said, “Through this investment, Mill Street has entered the insurance space in a unique and innovative way that will be well positioned for addressing the emerging needs of Canada’s insurance market. We see very strong potential in Tuque, especially given the strength of its leadership team led by Shaun Bagchi. Combining Shaun’s strong market experience with his entrepreneurial drive and creative approach to uncovering opportunity, Tuque is set to deliver significant value to Canadian policy holders from coast to coast.”

In addition to further solidifying its already strong leadership team, Tuque is pleased to announce the appointment of John Tagle as Tuque’s Chief Sales Officer. “I’m very excited to bring this level of experience and proven track record to our executive team, it will be fascinating to see John drive Tuque’s sales and market presence forward Nationally.” Bagchi, added.

About Mill Street & Co.

Mill Street & Co. is a diversified investment company committed to creating sustainable, long-term growth through the intelligent application and management of capital. Mill Street actively manages its investments with the goal of providing its investors with stable returns exceeding major indices and mutual funds. Mill Street invests primarily by purchasing equity positions in private and public companies. www.millstreetco.com

About Tuque

Established in 2016 and Canadian Owned and Operated, Tuque believes that your needs for coverage and peace of mind are constantly evolving and getting more complex. Innovative products designed to protect your family, home, auto and business as it matures and changes every year. An InsurTech company, Tuque has taken a refreshing approach to the annual purchase of Insurance by continuing to invest in digital and online solutions to increase customer experience. We believe that you should realize your benefits from day one. Join the Tuque community; Cover up, it’s cold out there! www.mytuque.ca

Release Summary

Tuque, a new entrant to the emerging InsurTech space, has been acquired by Mill Street & Co. Tuque is leveraging advanced technology to bring a digital approach to personal and commercial insurance.

Tuque Inc.