February 3, 2014 by Canadian Underwriter
New York-based Starr Companies will begin directly writing a variety of commercial lines in Canada, after receiving regulatory approval.
A federal order from the Office of the Superintendent of Financial Institutions has approved Starr Insurance & Reinsurance Ltd., the firm said Monday.
Starr has established a branch office in Toronto, and has named Hano Pak as its chief agent and country executive here.
Starr has already received a number of provincial licences, including most recently in Ontario, it noted in a press release.
“The news of the Federal Order from OSFI is another significant step in Starr’s global reach,” Charles Dangelo, vice chairman of Starr Insurance & Reinsurance commented in the release.
“Furthermore, Hano’s knowledge and experience in the Canadian commercial insurance market will be assets as we grow our presence in North America.”
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