No. G-05/01
- General

Licensing Changes - Second Quarter 2001

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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 second quarter, April 1 to June 30, of 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
Ascentus Insurance Ltd. The company is licensed for Accident and Sickness, Automobile, Legal Expense, Liability, Property, Surety. Jurisdiction of Incorporation: Canada Ascentus Insurance Ltd.'s contact in Ontario is: Mr. Larry Simmons, President and C.O.O. 10 Wellington Street East Toronto ON M5E 1L5 Tel: (416) 366-7511 Fax: (416) 366-9585	April 11, 2001
AXA Corporate Solutions Assurance The company is licensed for Accident and Sickness, Aircraft, Automobile, Boiler and Machinery, Credit, Fidelity, Hail, Legal Expense, Liability, Marine, Property, Surety. Jurisdiction of Incorporation: France AXA Corporate Solutions Assurance's contact in Ontario is: Mr. Joseph K. Fung, Chief Agent c/o AXA Insurance (Canada) 5700 Yonge Street, Suite 1400 North York ON M2M 4K2 Tel: (416) 250-1992 Fax: (416) 218- 4175	April 11, 2001

Amalgamations / Mergers:

The Nippon Fire & Marine Insurance Company Limited and KOA Fire and Marine Insurance Company The amalgamated company will use the name Nipponkoa Insurance Company Limited. Nipponkoa Insurance Company Limited's contact in Ontario is: Mr. Igal Mayer, Chief Agent C/O CGU Group Canada Limited 2206 Eglinton Ave East Scarborough ON M1L 4S8 Tel: (416) 288-1800 Fax: (416) 288-5888

April 27, 2001

Licence Amendments:

Belair Insurance Company Inc. Class Added: Boiler and Machinery	May 23, 2001
Canada Life Casualty Insurance Company Name Change: Primmum Insurance Company	May 09, 2001
RC Frankona Ruckversicherungs-Aktien-Gesellschaft Name Change: GE Frankona Ruckversicherungs-Aktiengesellschaft	May 25, 2001
The Personal Direct Insurance Company of Canada Name Change: Certas Direct Insurance Company	April 6, 2001
Toronto Dominion Life Insurance Company Name Change: TD Life Insurance Company	May 9, 2001
Rhine Re Ltd. Name Change: Alea Europe Ltd.	May 25, 2001

INSURANCE - Agents and Adjusters

During the second quarter of 2001, FSCO reviewed and approved 1,437 new individual applications and 73 new corporate applications. FSCO also renewed 2,491 individual and 211 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 13 new individual and two corporate applications for adjuster licences and renewed 457 individual and 75 corporate applications for adjuster licences.

CREDIT UNIONS/CAISSES POPULAIRES

During the period under review, FSCO did not receive any applications for new incorporations. Nineteen 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, eight 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
Unity Savings & Credit Union Limited	Education Family Savings & Credit Union Limited
Communication Technologies Credit Union Limited	Nortel Savings & Credit Union Limited
Pace Savings & Credit Union Limited	Canco Employees (Hamilton) Credit Union Limited
Cataract Savings & Credit Union Limited	Canadian Shredded Wheat Employees (Niagara Falls) Credit Union Limited
United Employees Credit Union Limited	McCormick's Employees (London) Credit Union Limited
Fort York Community Credit Union Limited	Communications Workers (Toronto) Credit Union Limited

Amalgamations

Amalgamating Unit	Amalgamating Unit	Amalgamated Unit
Caisse Populaire St-Jean de Brebeuf (Sudbury) Limitée	Caisse Populaire Ste-Anne de Sudbury Limitée	Caisse Populaire Nolin de Sudbury Incorporée

CO-OPERATIVES

There were three incorporations, one name change, and one dissolution of a co-operative.

TRUST/LOAN CORPORATIONS

Computershare Trust Company of Canada, 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.

Industrial-Alliance Trust Company, a Quebec trust company, received approval for registration pursuant to the Loan and Trust Corporations Act, R.S.O. 1990 c.L.25, as amended.

HSBC Loan Corporation (Canada), a federal loan company, as the successor company to Prenor Trust Company of Canada, 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.

At the request of the company, the terms, conditions and restrictions respecting the registration of State Street Trust Company, Canada, a federal trust company, were amended restricting the company’s ability to accept deposits in Ontario pursuant to the Loan and Trust Corporations Act, R.S.O. 1990 c.L.25, as amended.

MORTGAGE BROKERS

FSCO issued 130 certificates of registration for mortgage brokers.

 

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

August 23, 2001