No. G-07/01
- General

Licensing Changes - Third 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 third quarter, July 1 to September 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 FSCOs Internet web site at www.fsco.gov.on.ca

INSURANCE - Companies

(Listed in alphabetical order)

New Companies:	Effective date of changes
Pohjola Non-Life Insurance Company Ltd. The company is licensed for Automobile, Fidelity, Liability, Property (limited to the business of reinsurance). Jurisdiction of Incorporation: Pohjola, Finland Pohjola Non-Life Insurance Company Ltd.' s contact in Ontario is: Mr. René Lapierre, Chief Agent 150 King West, Suite 1900 Toronto ON M5H 1J9 Tel: (416) 979-3300 Fax: (416) 979-7724	August 13, 2001

Licence Cancellations:

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

Foresters Indemnity Company The company has no outstanding claims and has requested that this licence be cancelled.	August 21, 2001
Progressive Casualty Insurance Company of Canada The company transferred all of its business to Progressive Casualty Insurance Company and has requested that this licence be cancelled.	August 15, 2001

Licence Amendments:

American National Fire Insurance Name Change: Great American Insurance Company of New York	August 15, 2001
Bankers National Life Insurance Company (operates as National Fidelity Life Insurance Company in Ontario) Restriction Added: "life insurance restricted to the servicing of existing policies and accident and sickness insurance".	August 15, 2001
Centennial Insurance Company Class Added: Surety	August 13, 2001
Chrysler Insurance Company Name Change: DaimlerChrysler Insurance Company	September 10, 2001
Combined Insurance Company of America Class Added: Loss of Employment Insurance	August 24, 2001
Hartford Insurance Company of Canada Name Change: Langdon Insurance Company	August 15, 2001
Lanark Mutual Insurance Company Class Added: Boiler & Machinery	August 14, 2001
North Waterloo Farmers Mutual Insurance Company Restriction Removed:"limited to non-owned automobiles" for the class automobile insurance	September 7, 2001
Pierce National Life Insurance Company Name Change: Fortis Benefits Insurance Company	August 10, 2001
Reliance Insurance Company Restriction Added: " restricted to the servicing of existing policies"	August 14, 2001
SAFR Partner Re Name Change: PartnerRe SA	August 14, 2001
The Wawanesa Mutual Insurance Company Class Added: Accident and Sickness	July 6, 2001

INSURANCE - Agents and Adjusters

During the third quarter of 2001, FSCO reviewed and approved 1,534 new individual applications and 55 new corporate applications. FSCO also renewed 2,096 individual and 150 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 105 new individual applications for adjuster licences and renewed 465 individual and 48 corporate applications for adjuster licences.

CREDIT UNIONS/CAISSES POPULAIRES

During the period under review, FSCO did not receive any applications for new incorporations. Twenty-seven 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 an "amalgamation" or a "transfer of assets" as follows:

Transfer of Assets:

Purchaser credit union	Vendor credit union
Rideau/St.Lawrence Community Credit Union Limited	Casco Employees (Cardinal) Credit Union Limited
Kawartha Credit Union Limited	St. Peter's Parish (Peterborough) Credit Union Limited
Pace Savings & Credit Union Limited	Toromont Employees Credit Union Limited

Amalgamations

There were no amalgamations during the quarter.

CO-OPERATIVES

There was one incorporation, two name changes, and one amendment of co-operatives.

TRUST/LOAN CORPORATIONS

Effective July 12, 2001, BNY 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.

MORTGAGE BROKERS

FSCO issued 135 certificates of registration for mortgage brokers.

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

November 15, 2001

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