No. G-07/93
- General

Licensing Changes - First Quarter 1993

The following changes have occurred to insurers' licences during the quarter ended March 31, 1993.

Amalgamations:

Laurentian Life Insurance Company of Canada amalgamated with The Imperial Life Assurance Company of Canada, effective January 1, 1993.  The continuing entity will carry on business as The Imperial Life Assurance Company of Canada.  Accordingly, the licence in the name of Laurentian Life Insurance Company of Canada has been cancelled.

Zurich Life & Health Insurance Company of Canada amalgamated with Zurich Life Insurance Company of Canada, effective January 1, 1993.  The continuing entity will carry on business as Zurich Life Insurance Company of Canada.  Accordingly, the licence in the name of Zurich Life & Health Insurance Company of Canada has been cancelled.

New Insurers:

Aetna Casualty & Surety Company of Canada was licensed on January 1, 1993 to write aircraft, automobile, boiler and machinery, fidelity, liability, marine, property and surety.  The company can be contacted in Ontario through David J. Congram, Chief Agent, 145 King Street West, Toronto, Ontario, M5H 3T7 or by telephone at (416) 864-8000. Fax (416) 864-8189.

OTIP/RAEO Insurance Company Inc. was licensed on January 1, 1993 to write automobile, liability and property.  The company can be contacted in Ontario through Ross T. Bell, Chief Agent, 200 Consilium Place, Scarborough, Ontario, M1H 3E6 or by telephone at (416) 296-3054. Fax (416) 296-3180.

Discontinuing & Withdrawing Insurers:

The Aetna Casualty And Surety Company's liabilities have been assumed by Aetna Casualty & Surety Company of Canada, effective in two stages on January 1 and March 1, 1993.  The Aetna Casualty And Surety Company's licence has been cancelled, effective March 11, 1993.

Argonaut Insurance Company settled its policy liabilities in Ontario.  Argonaut Insurance Company's licence has been cancelled, effective February 23, 1993.

Insurance Company of North America's policy liabilities have been assumed by CIGNA Insurance Company of Canada, effective January 1, 1993.  Insurance Company of North America's licence has been cancelled, effective March 31, 1993.

The Mercantile and General Reinsurance Company plc transferred its business to The Mercantile and General Life Reassurance Company of Canada by novation agreements concluded on December 31, 1992.  The Mercantile and General Reinsurance Company plc's licence has been cancelled, effective March 31, 1993.

Norman Insurance Company Limited's policy liabilities have been assumed by The Equitable General Insurance Company, effective December 31, 1991. Norman Insurance Company's licence has been cancelled, effective March 31, 1993.

The Orion Insurance Company PLC's licence has been amended to reflect a discontinuing status, effective January 6, 1993.

Changes to Licences:

AXA Insurance (Canada)'s licence has been amended to reflect the addition of its French name "AXA Assurances (Canada)", effective January 19, 1993.

CAA Insurance Company (Ontario)'s licence has been amended to add the surety class of insurance, restricted to surety bonds required under the Real Estate and Business Brokers Act, effective March 29, 1993.

The Halifax Insurance Company's licence has been amended to reflect the addition of its French name "La Compagnie d'Assurance Halifax", effective January 6, 1993.

Lambton Mutual Insurance Company's licence has been amended to add the hail class of insurance, effective March 4, 1993.

Mony Reinsurance Corporation's licence has been amended to reflect its new name, Folksamerica National Reinsurance Company, effective January 26, 1993.

Municipal Electric Association Reciprocal Insurance Exchange's licence has been amended to reflect the addition of the legal expense class of insurance, effective March 30, 1993.

The Mutual of Ottawa - Church Insurance's licence has been amended to reflect its new French name "La Mutuelle d'église de l'Inter-Ouest", effective March 23, 1993.

Norwich Winterthur Reinsurance Corporation Limited's licence has been amended to reflect its new name, NW Reinsurance Corporation Limited and to add the hail class of insurance, effective January 6, 1993.

Quebec Assurance Company's licence has been amended to reflect the addition of its French name "Compagnie d'Assurance du Québec", effective February 4, 1993.

Royal Exchange Assurance of America, Inc.'s licence has been amended to reflect its new name, Fortress Insurance Company of America, effective March 4, 1993.

Usborne And Hibbert Mutual Fire Insurance Company's licence has been amended to reflect the addition of the boiler & machinery class of insurance, effective March 1, 1993.

Changes to licences under the Prepaid Hospital and Medical Services Act:

Green Shield Canada was licensed on January 1, 1993.  The company can be contacted in Ontario through Mr. Walter H. Austen, President, 45 Sheppard Ave. East, Suite 317, Willowdale, Ontario, M2N 5W9 or by telephone at (416) 221-0228.  Fax (416) 221-0350.

Green Shield Prepaid Services Inc. transferred its business to Green Shield Canada.  Green Shield Prepaid Services Inc.'s licence has been cancelled, effective March 31, 1993.

Donald C. Scott
Commissioner

April 28, 1993