On December 8, 2004, ING Canada Inc. completed its acquisition of Allianz of Canada, Inc. from Allianz AG and Allianz of America, Inc. Allianz of Canada’s subsidiaries include Allianz Insurance Company of Canada, Trafalgar Insurance Company of Canada and Canada Brokerlink, a network of insurance brokerages operating in Ontario and Alberta.
As a result of the acquisition, ING’s gross written premiums in Canada will increase by approximately $600 million to reach more than $4 billion. The purchase price was approximately $370 million, financed by a facility from Royal Bank of Canada which is expected to be repaid out of the proceeds of an initial public offering of shares of ING Canada.
ING Canada was represented in-house by Françoise Guénette, Chantal Denommée and Nina Mapara, and externally by the Toronto office of Fasken Martineau DuMoulin LLP with a team that included Robert McDowell, Stephen Kerr, Koker Christensen and Scott Mitchell (M&A), Robert Elliott and Karen Hauser (regulatory), Kathleen Hanly and David Robertson (tax), Douglas New and Aaron Stefan (competition), John Beardwood, Anita Huntley and Andrew Alleyne (technology), May Cheng and Andrea Kokonis (intellectual property), Ralph Nero and Maria Giagilitsis (labour and employment), Peggy McCallum and Ross Gascho (pensions and benefits), Gerald Ranking (litigation), Paul King (real property), Andrew Laidlaw (banking) and Rosalind Cooper (environmental).
Allianz AG and Allianz of America were represented in-house by Katharina Hartwig, and externally by the Toronto office of Stikeman Elliott LLP with a team that included Brian Rose, Stuart Carruthers, Doug Parker, Matthew Dooley, Abas Kanu, Andrea Crum-Ewing, Wendy Yu and Karen Anderson (corporate and regulatory), John Lorito and Alan Kenigsberg (tax), Paul Collins and Sandra Walker (competition), Wesley Ng (technology), Stuart McCormack (intellectual property), Bruce Pollock (litigation and employment), Doug Harrison (litigation), Julie Thibault (employment), Gary Nachshen (pensions and benefits) and Dana Porter (real property).