No. G-03/01
- General

Licensing Changes - First Quarter 2001

The Financial Services Commission of Ontario (FSCO) is releasing the following information on the disposition of applications for licences and licence changes it received during the first quarter, January 1 to March 31, 2001. The applications relate to individuals and organizations in these financial services sectors under FSCO's jurisdiction: insurance, credit unions/caisses populaires, co-operatives, trust and loan companies, and mortgage brokers.

General information on pensions, another financial services sector under FSCO's jurisdiction, can be obtained by visiting FSCO's Internet web site at www.fsco.gov.on.ca

INSURANCE - Companies

(Listed in alphabetical order)

New Companies:	Effective date of changes
American Agricultural Insurance Company The company is licensed for Accident and Sickness, Automobile, Boiler and Machinery, Fidelity, Hail, Liability, Property, and Surety (limited to the business of reinsurance). Jurisdiction of Incorporation: Illinois, USA American Agricultural Insurance Company's contact in Ontario is: Ms. Lorraine Williams, Chief Agent 3650 Victoria Park Avenue, Suite 201 Toronto ON M2H 3P7 Tel: (416) 496-1148 Fax: (416) 496-1089 Effective date of changes	February 19, 2001
Gerber Life Insurance Company The company is licensed for Life. Jurisdiction of Incorporation: New York, USA Gerber Life Insurance Company’s contact in Ontario is: Mr. J. Brian Reeve Cassels Brock & Blackwell 40 King St. West, Suite 2100 Toronto, ON M5H 3C2 Tel: (416) 869-5300 Fax: (416) 360-8877	January 5, 2001
MD Life Insurance Company The company is licensed for Life. Jurisdiction of Incorporation: Ontario MD Life Insurance Company’s contact in Ontario is: Mr. Charles K. Hamilton Chief Operating Officer 1867 Alta Vista Drive Ottawa ON K1G 5W8 Tel: (613) 731–8610 Fax: (613) 736-5368	March 21, 2001

Amalgamations / Mergers:

East Williams Mutual Insurance Company and Lobo Mutual Insurance Company and Ekfrid Mutual Insurance Company The amalgamated company will use the name Town & Country Mutual Insurance Company. Town & Country Mutual Insurance Company's contact in Ontario is: Mr. Eric Hodgson, President 68 Front Street Strathroy ON N7G 1X7 Effective date of changes Tel: (519) 246-1132 Fax:(519) 246-1115 The licences of East Williams Mutual Insurance Company, Lobo Mutual Insurance Company, and Ekfrid Mutual Insurance Company have been cancelled.	January 1, 2001
Economical Mutual Insurance Company and Galt Insurance Company and Langdon Insurance Company The amalgamated company will use the name Economical Mutual Insurance Company. The licences of Galt Insurance Company and Langdon Insurance Company have been cancelled.	February 7, 2001
Laurentian Life and Health Insurance Corporation and Desjardins-Laurentian Life Assurance Company Inc. Laurentian Life and Health Insurance Corporation merged with Desjardins-Laurentian Life Assurance Company Inc. and will use the name Desjardins-Laurentian Life Assurance Company Inc.	March 19, 2001
NN Life Insurance Company of Canada and Transamerica Life Insurance Company of Canada NN Life Insurance Company of Canada amalgamated with Transamerica Life Insurance Company of Canada and will use the name Transamerica Life Canada.	February 7, 2001

Licence cancellations:

The licences of the following insurers have been cancelled after satisfactory arrangements were made for any insurance liabilities.

Transit Insurance Company

The company transferred all of its business to Zurich Insurance
Company and was issued Letters Patent of Dissolution by OSFI.

February 7, 2001

Licence amendments:

AXA Reassurance Name Change: AXA Corporate Solutions	January 26, 2001
Bay of Quinte Mutual Insurance Co. Class Added: Fidelity	February 22, 2001
Belair Insurance Company Class Added: Accident & Sickness, Fidelity, Legal Expense, Marine, Surety	February 26, 2001
Calvert Insurance Company Name Change: Specialty National Insurance Company	January 26, 2001
The Commerce Group Insurance Company Class Added: Legal Expense, Marine, Property	February 26, 2001
The Halifax Insurance Company Class Added: Legal Expense, Marine (restricted to the business of reinsurance)	February 26, 2001
Healthcare Insurance Reciprocal of Canada Restriction Removed On Property Class:(incidental to a commercial liability policy).	January 31, 2001
ING Novex Insurance Company of Canada Class Added: Boiler & Machinery, Surety (restricted to the business of reinsurance)	February 26, 2001
ING Wellington Insurance Company Class Added: Legal Expense	February 26, 2001
ING Western Union Insurance Company Class Added: Legal Expense	February 26, 2001
Prescott Mutual Insurance Company Class Added: Accident and Sickness	February 22, 2001
Transamerica Life Insurance Company of Canada Name Change: Transamerica Life Canada	January 31, 2001
Wabisa Mutual Fire Insurance Company Name Change: Wabisa Mutual Insurance Company	February 22, 2001
Zurich Insurance Company Class Added: Credit	February 9, 2001

INSURANCE - Agents and Adjusters

During the first quarter of 2001, FSCO reviewed and approved 1,128 new individual applications and 97 new corporate applications. FSCO also renewed 4,519 individual and 484 corporate applications for agent licences, which include licences for Level I and Level II agents, Other-than-Life (General) agents and Accident and Sickness (A & S) agents. It also reviewed and approved 20 new individual and one corporate application for adjuster licences and renewed 38 individual and 5 corporate applications for adjuster licences.

CREDIT UNIONS/CAISSES POPULAIRES

During the period under review, FSCO did not receive any applications for new incorporations. Thirty-five credit unions/caisses populaires applied for, and received, approval for lending licence changes. Lending categories include unsecured, personal, bridge, aggregate, mortgage, agricultural, and commercial lending increases of varying amounts.

During the period in review, three credit unions were approved to merge through a "amalgamation" or a "transfer of assets" as follows:

Transfer of assets:

Purchaser credit union	Vendor credit union
Standard Tube Employees (Woodstock) Credit Union Limited	Timberland Employees (Woodstock) Credit Union Limited

Amalgamations

Amalgamating Unit	Amalgamating Unit	Amalgamated Unit
Caisse Populaire Welland Limitée	Caisse Populaire Port Colbourne Limitée	Caisse Populaire Welland Limiteé

CO-OPERATIVES

There were two incorporations, and four amendments of co-operatives.

TRUST/LOAN CORPORATIONS

The Canada Trust Company as the successor company to the amalgamation of The Canada Trust Company, a federal trust company, and TD Trust Company, a federal trust company, received approval for registration pursuant to the Loan and Trust Corporations Act, R.S.O. 1990 c.L.25, as amended.

MORTGAGE BROKERS

FSCO issued 108 certificates of registration for mortgage brokers.

Grant Swanson
Director
Licensing and Enforcement Division
Financial Services Commission of Ontario

May 23, 2001

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