Stuart Carruthers

Stuart S. Carruthers Partner

Representative Work
  • Canadian Medical Association in the C$2.6B sale of MD Financial Management to Scotiabank, including the entering into of a 10-year affinity agreement between CMA and Scotiabank.
  • Desjardins Financial Corporation Inc. in its C$775M sale of Western Life Assurance Company and Western Financial Group Inc. to Trimont Financial Ltd., a subsidiary of The Wawanesa Mutual Insurance Company.
  • Ed Broking Holdings (London) Limited in its sale of Creechurch International Underwriters Limited to Beazley plc.
  • OMERS Capital Markets in its US$1B co-investment with Fairfax Financial Holdings Limited to acquire Allied World Assurance Company Holdings, AG.
  • China Oceanwide in its C$3.8B acquisition of Genworth Financial Inc., including acquisition of control of Genworth Canada Financial Mortgage Insurance Company Canada.
  • RSA Canada in its sale of Pets Plus Us pet insurance division to Pethealth Inc., a part of the Northbridge Insurance unit of Fairfax Financial Group.
  • Royal Bank of Canada in its C$572M sale of RBC General Insurance Company to Aviva Canada and long-term insurance distribution partnership with Aviva Canada.
  • ACE Limited in its US$28.3B acquisition of The Chubb Corporation.
  • Willis Group Holdings plc in its US$8B acquisition of Towers Watson & Co.
  • RGA Canada in BCE’s C$5B longevity risk transfer to Sun Life, reinsured to RGA Canada and SCOR Canada.
  • RSA Canada in its C$500M sale of Noraxis Capital Corporation to Arthur J. Gallagher & Co.
  • The Travelers Companies, Inc. in its C$1.07B acquisition of The Dominion of Canada General Insurance Company from E-L Financial Corporation Limited.
  • RBC Insurance Company of Canada in its transition of certain travel insurance distribution arrangements to Manulife Financial.
  • Underwriters in the C$487M offerings of subscription receipts and notes by Intact Financial Corporation to finance the acquisition of JEVCO Insurance Company.
  • Underwriters in the C$1.86B offerings of subscription receipts, shares and notes by Intact Financial Corporation to finance the acquisition of AXA Canada Inc. from AXA S.A. for C$2.6B.
  • DAS Legal Protection Insurance Company Limited in its establishment in Canada.
  • Alberta Investment Management Corporation in its C$148M investment in The Westaim Corporation connection with Westaim’s C$264M acquisition of JEVCO Insurance Company.
  • American International Group, Inc. in its sale of AIG United Guaranty Mortgage Insurance Company Canada to a private investor group led by Ontario Teachers’ Pension Plan Board.
  • Markel International in its C$75M acquisition of Elliott Special Risks LP from Newport Partners Income Fund.
  • American International Group, Inc. in its C$375M sale of AIG Life Insurance Company of Canada to Bank of Montreal.
  • American International Group, Inc. in its US$742M sale of the HSB group, including The Boiler and Inspection Insurance Company of Canada.
  • Scotia Capital Inc. in connection with the sponsored demutualization of Unity Life of Canada by Foresters (first Canadian sponsored demutualization).
  • Funds advised by Apax Partners together with Morgan Stanley Principal Investments in their US$1.86B acquisition of Hub International Limited.
  • Standard Life Assurance Company in its £4.7B demutualization and floatation.