Allianz Worldwide Partners and The Co-operators completed the merger of their respective Canadian travel insurance companies. The merger of Allianz Global Assistance Canada and TIC Travel Insurance Coordinators has created one of the largest travel insurance providers in the country, operating as Allianz Global Assistance.
Allianz Worldwide Partners S.A.S., the parent company of Allianz Global Assistance Canada, owns 55 per cent of the combined legal entity, AZGA Service Canada Inc. Co-operators Life Insurance Company owns 45 per cent. The combined legal entity includes subsidiaries AZGA Insurance Agency Canada Ltd. and SelectCare Worldwide Corp. Allianz Global Assistance will offer travel insurance products underwritten by its established underwriter partners.
Allianz Worldwide Partners, headquartered in Paris, France is an international provider of insurance for heath, life and disability.
The Co-operators Group Limited, headquartered in Guelph, Ontario, is a Canadian-owned co-operative and leading provider of home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability.
The Allianz legal team included Alexander Franz (Legal Counsel M&A, Group Legal and Compliance, Allianz SE, Munich), Isabelle Pasquier (Head of Legal and Compliance for AGA International S.A., Paris) and Arthur Sifft (Head of Legal and Compliance Operations for AGA International S.A., Paris, succursale de Wallisellen (Suisse)), and Borden Ladner Gervais LLP with a team led by Prema Thiele and that included Julie Mansi (corporate), Kelly Morris (insurance - corporate and regulatory), William Jones (corporate), Steve Suarez (tax), Beverley Gilbert (tax), Daniel Lang (tax), Jenna Grant (financial services), Jon Smithen (competition) and Andrew Hodhod (insurance – corporate and regulatory).
The Co-operators legal team included Wayne Schatz (VP and General Counsel – Corporate and Regulatory), Ryan Azotini (Senior Counsel), and was assisted by McMillan LLP with a team led by Frank Palmay and that included Robert Cranston (corporate), Carol Lyons (distribution and reinsurance), Darcy Ammerman (corporate), Bruce McWilliam (corporate), Michael Friedman (tax), Dave McKechnie (employment), Robert Scavone (financial services), Carl Irvine (tax), Alison Kim (financial services) and Tim Hughes (corporate).