Canada Gazette, Part I, Volume 158, Number 37: MISCELLANEOUS NOTICES

September 14, 2024

PROPERTY AND CASUALTY INSURANCE COMPENSATION CORPORATION

APPLICATION TO INCORPORATE A PROPERTY AND CASUALTY INSURANCE COMPANY

Notice is hereby given, pursuant to subsection 25(2) of the Insurance Companies Act (Canada), that Property and Casualty Insurance Compensation Corporation (“PACICC”) intends to apply to the Minister of Finance for letters patent to incorporate a property and casualty insurance company. The proposed company will carry on business in Canada under the name PACICC-SIMA General Insurance Company / Compagnie d’Assurance Générale PACICC-SIMA and its head office will be located in Toronto, Ontario.

The proposed insurance company will not carry on any business unless and until required in certain special circumstances, as determined by the PACICC Board.

Any person who objects to the issuance of these letters patent may submit an objection in writing to the Office of the Superintendent of Financial Institutions (OSFI), 255 Albert Street, Ottawa, Ontario K1A 0H2, or by emailing OSFI at approvals-approbations@osfi-bsif.gc.ca, on or before October 22, 2024.

Note: The publication of this notice should not be construed as evidence that letters patent will be issued to incorporate the company. The granting of the letters patent will be dependent upon the normal Insurance Companies Act (Canada) application review process and the discretion of the Minister of Finance.

August 31, 2024

Property and Casualty Insurance Compensation Corporation

SAFETY NATIONAL CASUALTY CORPORATION

ASSUMPTION REINSURANCE TRANSACTION

Notice is hereby given, in accordance with the provisions of subsection 587.1(4) of the Insurance Companies Act (Canada) [the “ICA”], that Safety National Casualty Corporation (“SNCC”) intends to make an application to the Superintendent of Financial Institutions (Canada) [the “Superintendent”] pursuant to section 587.1 of the ICA, on or after October 21, 2024, for the Superintendent’s approval to cause itself to be reinsured, on an assumption basis, by Tokio Marine Canada Ltd. (“Tokio Marine”), against all of the risks undertaken by SNCC under its policies in Canada.

A copy of the proposed assumption reinsurance agreement relating to this transaction will be available for inspection by the policyholders of SNCC and Tokio Marine during regular business hours at the office of the Chief Agent of the Canadian branch of SNCC located at 77 King Street West, Suite 400, Toronto, Ontario M5K 0A1, for a period of 30 days following publication of this notice. Any policyholder who wishes to obtain a copy of the assumption reinsurance agreement may do so in writing to the Chief Agent of SNCC at the above-noted address.

September 14, 2024

By its solicitors

Dentons Canada LLP

VALIDUS REINSURANCE, LTD.

RELEASE OF ASSETS

Pursuant to section 651 of the Insurance Companies Act (Canada) [the “Act”], notice is hereby given that Validus Reinsurance, Ltd. (“Validus”) intends to apply to the Superintendent of Financial Institutions (Canada) on or after October 7, 2024, for an order authorizing the release of the assets that it maintains in Canada in accordance with the Act.

Any policyholder or creditor in respect of Validus’s insurance business in Canada opposing such release is invited to file an opposition by mail to the Office of the Superintendent of Financial Institutions (Canada), Regulatory Affairs Directorate, 255 Albert Street, Ottawa, Ontario K1A 0H2, or by email at approvals-approbations@osfi-bsif.gc.ca, on or before October 7, 2024.

Toronto, August 24, 2024

Validus Reinsurance, Ltd.
By its solicitors

Dentons Canada LLP