Allianz Worldwide Partners and The Co-operators Thursday 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.
Daniel Wichels, who served previously as the chief financial officer of Allianz Global Assistance for the Americas, has been appointed as CEO for Allianz Global Assistance in Canada.
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.
Based in Kitchener, Ont., Allianz Global Assistance will offer travel insurance products underwritten by its established underwriter partners.
There will be no changes to any in force policies purchased through TIC or Allianz Global Assistance, and no interruption in service to clients, the companies said in a news release.