Scotia Seguros de Vida S.A. acquired by BNP Paribas Cardif

Torys acted as counsel to Scotiabank with a team led by (Ricco) A.S. Bhasin and which included Cameron Koziskie, Kevin Armitage, Crystal Chung and Brook Wong (corporate) and Andrew Silverman (taxes).

On July 26, 2019, Scotiabank announced it has entered an agreement to sell their insurance manufacturing and underwriting business in Chile, Scotia Seguros de Vida S.A., to a subsidiary of BNP Paribas Cardif.

Following the fulfillment of customary closing conditions, including approval of regulatory bodies in Chile, the closing of the transaction was announced on June 1, 2020.

More on the deal can be found here.

Scotiabank is Canada's international bank and a leading financial services provider in the Americas.

BNP Paribas Cardif is a world leader in creditor insurance and a global specialist in personal insurance, serving 100 million clients in 35 countries with strong positions across Europe, Asia and Latin America.