Trent Health Insurance Services Corp. is the purchaser of the business of Ingle Life & Health Assurance Company, a travel and accident insurance specialist, in a deal notable for its completion speed. The letter of intent was signed August 20, 2001, the purchase agreement was signed August 31, 2001, and the transaction cleared its regulatory and court approvals and closed on September 12, 2001. The price of the transaction was not disclosed. The purchaser, Trent Health Insurance, is a new joint venture formed between The Co-operators and Canadian Insurance Marketing Inc.
Blake, Cassels & Graydon LLP acted for Trent Health Insurance. The Blakes team was comprised of Paul Belanger, Lisa Corne, Jacqueline Dinsmore, Allan Gelkopf, Mary Manocchio, Ross McKee and Paula Sawyers. Daniel Gormley, Grant McGlaughlin, Geoffrey Morawetz and David Bish of Goodmans LLP, and Crawford Spratt, Joan Garson, Jill McCutcheon and Tracy Dewar of Blaney McMurtry LLP acted for the Ingle companies. The Co-operators Group was represented by in-house counsel, Andrew Carlyle and Frank Lowery. Joseph Steiner, Edward Sellers and Laura Fric of Osler, Hoskin & Harcourt LLP acted for BMO Nesbitt Burns, Inc., the largest secured creditor of Ingle’s parent company.