AMF to supervise mediation between Groupe Promutuel and two member companies
Insurance
Montréal – At the suggestion of the Autorité des marchés financiers (the “AMF”), Groupe Promutuel Fédération of general mutual insurance companies (“Federation”) as well as Promutuel Dorchester, a general mutual insurance company, and Promutuel Lévisienne-Orléans, a general mutual insurance company, both members of the Federation, have agreed to take part in mediation under the supervision of the AMF so that the two parties can resolve their differences in the best interests of the Federation and the insureds.
Promutuel Dorchester and Promutuel Lévisienne-Orléans held special meetings in December 2004 for the purpose of consulting their members on the steps to take for converting into a mutual damage insurance company under section 179 of An Act respecting insurance. The AMF issued a press release on this matter on January 19, 2005, which is available on the AMF website under Media Centre.
The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.
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