Royal & SunAlliance Insurance Company of Canada (RSA) and its affiliate, Western Assurance Company (Western), completed an agreement for the purchase of the Canadian insurance business of Lumbermens Mutual Casualty Company (Kemper Canada) on May 31, 2001.
Through the transfer of this insurance business by assumption reinsurance, Western acquired Kemper Canada’s personal lines business, while RSA acquired the latter’s commercial lines business. Kemper Canada will retain commercial lines business related to Canadian subsidiaries of Kemper’s US-based customers, as well as Kemper Canada’s environmental liability business.
RSA and Western’s transaction team operated under the direction of Philip Wilson, Vice-President, Finance, and Angela Shaffer, General Counsel, Vice-President and Secretary of RSA and Western. McMillan Binch acted for RSA and Western, with a team led by Chris Germanakos (corporate) and John-David Humphreys (corporate), and including David Wentzell (tax), David Ross (real estate), Joseph Chertkow (regulatory) and Darryl Hiscocks (pension/employment). Kemper Canada’s participation in the transaction was managed by William Hickey, Senior Vice-President, Director of Capital Development and Richard Miranti, Associate General Counsel. Kemper was represented by Blake, Cassels & Graydon LLP, led by Paul Belanger and Shannon O’Hearn (corporate & regulatory), and including Scott Mahaffy (corporate & securities), Chris Van Loan and Allan Gelkopf (tax), Kathy Bush (pensions) and Bob Macdonald (real estate).