No. G-01/98
- General
Licensing Changes - Fourth Quarter of 1997
As part of ongoing efforts to communicate matters of interest to the insurance industry, the Ontario Insurance Commission (OIC) is releasing the following information on changes to licences for the quarter ending December 31, 1997.
The changes in the fourth quarter of 1997 include announcements of licences issued to new insurers, insurance companies that have discontinued operations, licence cancellations and amendments.
New companies: |
Effective date of changes |
| Lincoln Heritage Life Insurance Company The company is licensed for life, on the condition that in Lincoln Heritage Life Insurance Company's Ms. Eileen Mayer |
December 11, 1997 |
Discontinuing & Withdrawing Companies:
The following companies are discontinuing their operations and, accordingly, cannot write new or renew insurance contracts. With discontinuing status, however, companies remain obligated to service existing contracts and to settle claims under these contracts.
|
November 25, 1997 |
|
October 16, 1997 |
Licence Cancellations:
The licence of the following insurer has been cancelled after satisfactory arrangements have been made for any insurance liabilities.
|
November 25, 1997 |
The licences of all 32 Mutual Benefit Societies have been cancelled effective October 10, 1997, pursuant to section 10 of the Red Tape Reduction Act. Mutual Benefit Societies are no longer deemed to be insurers within the meaning of the Insurance Act of Ontario.
Other licence amendments:
|
October 20, 1997 |
|
October 27, 1997 |
|
December 16, 1997 |
|
October 27, 1997 |
|
November 14, 1997 |
|
October 21, 1997 |
|
October 8, 1997 |
|
October 16, 1997 |
Grant S. Swanson
Acting Superintendent of Insurance
January 26, 1998
Financial Services Commission of Ontario