Website: bflcanada.ca
Head office address (Canada): 2001 McGill College Avenue, Suite 2200, Montreal, QC H3A 1G1
Year established: 1987
Ownership structure: private, Canadian, 100 percent employee-owned independent brokerage
Target market/client profile: Canadian and international businesses, plan sponsors, public sector bodies, and associations seeking commercial insurance, risk management, and group benefits; covers more than 45 market niches
Number of professional staff: more than 1,500 employees
Canadian office locations: Quebec (head office in Montreal), Ontario, British Columbia, Alberta, Manitoba, Saskatchewan, and Nova Scotia
BFL Canada is one of the country's few fully employee-owned commercial insurance brokerages and benefits consulting firms. The firm places coverage with insurers worldwide and is approved by Lloyd's of London for direct claims settlement.
BFL Canada was founded in 1987 when Barry Lorenzetti opened an insurance brokerage in Montreal. The new firm started with a focus on niche commercial insurance lines for Canadian companies.
Lorenzetti built the business as an employee-owned operation to take on major US brokers in Canada. That ownership model became the foundation for how the firm hired, grew, and served clients.
The company opened its Toronto office in 1994 and followed with Quebec City in 1999. Over the next decade, the brokerage pushed west and east with offices in various locations.
In 2008, BFL Canada launched BFL CANADA Consulting Services Inc. to handle employee benefits and retirement advice. That launch gave the firm a dedicated benefits arm alongside its commercial insurance and risk practices.
In 2018, BFL Canada entered a strategic partnership with Caisse de dépôt et placement du Québec (CDPQ). Soon after, BFL Canada set up a dedicated succession planning committee to develop future leaders for key roles.
That same year, Lorenzetti received the Lifetime Achievement in the Insurance Industry Award from Insurance Business Canada. The brokerage followed with three acquisitions in 2019:
The company surveyed its employees in 2022 on the benefits they valued most after the pandemic. The results led the firm to expand mental health and wellness coverage for staff.
Lisa Giannone stepped into the president and COO role in 2023 after years of preparation through that committee. Since then, the brokerage has added offices to reach 27 locations.
BFL Canada offers employee benefits, group retirement, and consulting services for Canadian plan sponsors:
BFL Canada acts as a brokerage and consultant, which means it places coverage through insurance carriers rather than underwriting policies. The firm pairs its benefits advice with in-house actuarial, claims, and communication support for plan sponsors across the country.
Barry Lorenzetti serves as chief executive officer, chair of the board of directors, and founder of BFL Canada. He holds the Order of Canada (C.M.) and an undergraduate degree from McGill University.
BFL Canada's executive team works alongside Lorenzetti and Lisa Giannone, who leads day-to-day operations:
The board of directors has nine members, with Norman Steinberg serving as vice-chair. Steinberg is a Montreal-based corporate governance lawyer and former global chair of Norton Rose Fulbright.
Other directors include John Donovan, Daniel Binette, Douglas Goss, Michelle Cormier, and Carol Wilding.
The board oversees strategy, succession planning, and risk management for the employee-owned firm and its subsidiaries.
BFL Canada's benefits and retirement consulting teams work with plan sponsors, administrators, and their employees across the country. The firm also serves commercial clients, public sector bodies, associations, and high-net-worth individuals through its other practice areas.
Its benefits clients range from small employers to large national organizations with thousands of members. The firm builds each relationship through its in-house consultants and actuarial team rather than through third-party advisors.
The brokerage runs 27 offices across seven provinces and serves clients in every major Canadian market. Major cities include:
BFL Canada also specializes in more than 45 market niches. Notable sectors include:
The firm works with Indigenous communities on risk and coverage programs. Its LION network also extends this reach to broker partners in more than 140 countries worldwide.
The consulting team publishes guidance for plan sponsors on defined contribution and capital accumulation plan strategy. In early 2025, BFL Canada leaders spoke with BPM about tariff volatility and target date funds as a tool for DC plan members. The firm's retirement team also advises sponsors on in-plan advice, communication strategy, and glide-path design.
BFL Canada has earned recognition for its workplace culture and governance from several independent programs. The firm's benefits team has also contributed to industry discussions through Benefits and Pensions Monitor coverage.
Lorenzetti founded the Barry F. Lorenzetti Foundation in 2015 to support mental health programs across Canada. BFL Canada also backs women's entrepreneurship and women in hockey through community sponsorships.
In 2025, regional VP of benefits consulting David Krieger spoke with BPM about rising benefits costs and flexible plan design for plan sponsors. That conversation is one example of the firm's benefits team contributing to industry discussions.
HR leader at BFL Canada highlights several initiatives employers can take to attract and retain top talent
