Allianz, TIC complete merger

The merger of Allianz Global Assistance Canada and TIC Travel Insurance Coordinators has been completed, creating one of the largest travel insurance providers in the country, now operating as Allianz Global Assistance.

The merger, first announced in September, will leverage the strengths of the two organizations to offer industry-leading products and services for Canadian travellers and visitors to Canada, said a release from Allianz.

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.

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. Cooperators Life Insurance Company owns 45 per cent. The combined legal entity includes subsidiaries AZGA Insurance Agency Canada Ltd and SelectCare Worldwide Corp.

There will be no changes to any in force policies purchased through TIC or Allianz Global Assistance, and no interruption in service to clients.