Federated Agencies, a subsidiary of The Co-operators, has purchased Vancity Insurance Services
The Co-operators and Vancity have completed the sale of Vancity Insurance Services Limited (VISL), which was announced by the two companies on July 21, 2009.
Federated Agencies, a subsidiary of The Co-operators, has purchased VISL, which provides home, auto, travel and business insurance in British Columbia.
The purchase, which includes 17 VISL retail branches in Greater Vancouver and Victoria, expands The Co-operators’ presence in British Columbia. All VISL service locations have started to operate under The Co-operators brand.
Vancity will continue to offer life, creditor and title insurance as part of its overall financial services offering. Squamish Insurance Services is not part of the purchase agreement and will continue operations as usual.
VISL customers have been notified of the change in ownership, and their insurance coverage remains in effect, with no changes to their premiums or coverage for the current term of their policies. At renewal, customers will be offered similar policies by The Co-operators.
The Co-operators is a group of Canadian companies offering home, auto, life, group, travel, commercial and farm insurance, as well as investment products and services.