Date closed: 12/31/2014

Value: Undisclosed

On December 31, 2014, Allianz Worldwide Partners and The Co-operators today announced the completion of the merger of their respective Canadian travel insurance companies. The merger of Allianz Global Assistance Canada and TIC Travel Insurance Coordinators, first announced in September, 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 insurance company.

BLG represented Allianz Worldwide Partners with a team led by Prema Thiele 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).