Merger Creates One Of The Largest Providers In Canadian Travel Insurance
- Written by iPMI Magazine
- font size decrease font size increase font size
Allianz Worldwide Partners and The Co-operators have 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. The combined entity will leverage the strengths of the two organizations to offer industry-leading products and services for Canadian travellers and visitors to Canada.
Dr. Daniel Wichels, who served previously as the Chief Financial Officer of Allianz Global Assistance for the Americas, has been appointed as Chief Executive Officer for Allianz Global Assistance in Canada. "The closing of the merger between Allianz Global Assistance Canada and TIC Travel Insurance Coordinators represents the beginning of an exciting new chapter for our organization. As a combined entity, we are better positioned than ever before to provide innovative travel insurance products and distribution solutions to our valued partners. In turn, we will be able to help even more Canadians with unparalleled global support when they travel abroad," says Wichels. "While we work to fully integrate our operations, we will continue to deliver on our commitment to world-class service for our partners and customers. Fortunately, we have already started to establish a strong sense of unity among our employees, which will be a key to the long-term success of our merger."
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. There will be no changes to any in force policies purchased through TIC or Allianz Global Assistance, and no interruption in service to clients.
- iPMI Magazine Round Table: International Medical Cost Containment Strategies 2022
- Why AXA Leaving The Middle East Is A Big Deal
- iPMI Magazine Speaks with Global Excel Indonesia’s Steven Om on Brand-New Hospital Express Discharge Program
- Healthcare International (HCI) Announces Management Buyout Backed By Prefequity
- Bupa Announces Appointment Of James Lenton As Group CFO
- Uncertainty About The Future And Finances Leading Causes Of Stress, Cigna Study Reveals
- 1.9 Million Brits May Have Travelled Uninsured During The Peak Summer Season
- Healix Sentinel Enables Businesses To Get People Moving Again
- UAE Embraces Telehealth In COVID-19 Battle
- AM Best Affirms Credit Ratings Of Allianz México, S.A., Compañía de Seguros
Latest from iPMI Magazine
- iPMI Magazine Speaks With Eithan Wolf, CEO, PassportCard Germany
- HCI Group Launches New Modular iPMI Plan, NIMBL Health
- APRIL International Maintains Top IPMI Service Rating For 2nd Consecutive Year
- Allianz Partners Continues Growth Trajectory Driven By Travel Rebound
- Allianz Partners Enhances Health Business With New Appointments