GUELPH and VANCOUVER - The Co-operators and Vancity today completed the sale of Vancity Insurance Services Limited (VISL), which was announced by the two organizations on July 21, 2009. Federated Agencies Limited, 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, significantly expands The Co-operators presence in British Columbia, where it previously had 24 agent offices. All VISL service locations will begin to operate under The Co-operators brand tomorrow, September 2, 2009. Customers can continue to purchase insurance at these locations. 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.