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Bulletin


No. G-05/97
- General

Licensing Changes - Second Quarter 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 June 30, 1997.

The changes in the second quarter of 1997 include annnouncements of licences issued to newinsurers, insurance company amalgamations, licence cancellations and amendments.

New companies:

  • AMEX Assurance Company

    The company is licensed for accident and sickness
    insurance to the extent authorized by its Articles of
    Incorporation and limited to group flight insurance
    and group travel accident insurance, on the condition
    that if, in its transaction of its business in Ontario,
    the company uses a French form of name, that name shall be AMEX Compagnie d'Assurance.

    AMEX Assurance Company's contact in Ontario is

    Ms. Judy K. Ha
    Chief Agent
    c/o Judy Ha & Associates Inc.
    60 Bloor St. W., Suite 403
    Toronto, Ontario M4W 3L8
    Phone: (416) 969-9216
    Fax: (416) 969-9407
2 April 1997

Amalgamations:

  • Economical Mutual Insurance Company and Western             General Mutual Insurance Company

    The amalgamated company will use the name
    Economical Mutual Insurance Company.
    The licence of Western General Mutual Insurance
    Company has been cancelled.

28 May 1997

Licence Cancellations:

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

  • Alexander Hamilton Life Insurance Company of America

    The company transferred its policy liabilities
    to Household Life Insurance Company.

30 June 1997
  • Alpina Insurance Company, Limited

    The company transferred its policy liabilities
    to Zurich Insurance Company.

23 June 1997
  • The American Insurance Company

    The company settled its policy liabilities in Ontario.
23 June 1997
  • AMEX Life Assurance Company 

    The company transferred its policy liabilities to
    Hartford Life Insurance Company.

30 June 1997
  • Christiania General Insurance Corporation of New York

    The company transferred its policy liabilities to
    Folksamerica Reinsurance Company.

28 May 1997
  • Fireman's Fund Insurance Company

    The company transferred its policy liabilities to
    Allianz Insurance Company of Canada.

28 May 1997
  • The Norwich Union Life Insurance Society

    The company transferred its policy liabilities to
    Norwich Union Life Insurance Company (Canada).

20 June 1997
  • UNI Storebrand International Insurance A/S

    The company settled its policy liabilities in Ontario.

24 April 1997
  • The Workmen's Circle

    The company settled its policy liabilities in Ontario.

25 June 1997

Other licence amendments:

  • Lawyers' Professional Indemnity Company

    Class Added: Title
17 April 1997
  • North American Reassurance Company

    Name Change: Swiss Re Life Company America

19 June 1997
  • Northwestern National Life Insurance Company

    Name change: ReliaStar Life Insurance Company.
    Conditions amended to read:  Limited to the business
    of reinsurance, except that the company may
    also provide insurance on the lives of residents
    of Ontario insured under group policies issued
    in the United States, and on the condition that,
    if, in the transaction of its business in Ontario,
    the company uses a French name, that name shall be
    Compagnie D'Assurance-Vie ReliaStar.

19 June 1997
  • OTIP/RAEO Insurance Company Inc.

    Name Change: Everest Insurance Company of Canada
    Classes Added: Aircraft, Boiler and Machinery,
    Credit, Fidelity, Hail, Surety, Marine

25 June 1997
  • Pafco Insurance Company Limited

    Name Change:  Pafco Insurance Company;
    addition of French name: Pafco compagnie d'assurances.

4 June 1997  
  • Protective Insurance Company

    Class Added: Accident and Sickness

18 June 1997
  • The Reinsurance Corporation of New York

    Name Change: The Insurance Corporation of New York

3 April 1997
  • Royal Life Insurance Company of Canada Limited 

    Class Added: Accident and Sickness

18 June 1997
  • Swiss Re Life Canada

    Name Change: Swiss Re Life & Health Canada
26 June 1997

Grant S. Swanson
Acting Superintendent of Insurance

August 11, 1997