October 13, 2005 Insurance Decisions and Freeze and cease trade orders

Montréal – On October 3, 2005, the Autorité des marchés financiers (AMF) ordered the insurance company La Vigilance, société de secours mutuels (La Vigilance) to immediately halt all prospecting activities and cease issuing any new policies.

The order was issued in accordance with section 219.1 of the Act respecting insurance so as to ensure the protection of current policyholders and the general public.

On August 5, 2005, the AMF notified La Vigilance of its intention to issue a decision pursuant to section 219.1 of the Act.

As of December 31, 2004, the company posted a loss of $72,566, with shareholders’ deficiency amounting to $44,647 on assets totalling $364,326.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.

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Information:

Media only:
Philippe Roy (514) 940-2176
Issuers, dealers, advisers and representatives: (877) 525-0337, dial 9 for English, then choose option 1 for industry
Consumers and investors: (877) 525-0337, dial 9 for English, then choose option 2 for consumers