On June 26, 2000, Economical Mutual Insurance Company completed the purchase of the Canadian insurance and reinsurance activities of Generali Insurance (one of the world’s largest insurance companies) and Helvetia Patria (a Swiss insurance company). The insurance activities of Generali and Helvetia were carried on through jointly-owned Federation Insurance Company of Canada, while the reinsurance activities were carried on through Canadian branches of Generali and Helvetia. The $150 million transaction involved one of the most complex regulatory approval processes ever dealt with by the federal Office of Superintendent of Financial Institutions, requiring more than 20 Ministerial or Superintendent approvals.
Robert L. Warren and Ian Wismer of Kitchener-based Sims Clemens Eastman acted for Economical while Ogilvy Renault advised Generali and Helvetia with a team that included Michel Goudreau and Thierry Dorval and Natalie Brown (corporate), Marc Duquette and Françoise Denault (regulatory) and Alain Côté (tax).
Robert L. Warren and Ian Wismer of Kitchener-based Sims Clemens Eastman acted for Economical while Ogilvy Renault advised Generali and Helvetia with a team that included Michel Goudreau and Thierry Dorval and Natalie Brown (corporate), Marc Duquette and Françoise Denault (regulatory) and Alain Côté (tax).
