What’s New: In Brief (February 19, 2009)

The shareholders of Northbridge Financial Corporation (TSX: NB) have approved by a special resolution the anticipated amalgamation of Northbridge with Fairfax Financial Holdings Limited (TSX: FFH)(NYSE: FFH).
The amalgamation will be effective on or around Feb. 20, 2009.
Northbridge will effectively become a private company, becoming a wholly-owned subsidiary of Fairfax. All holders of Northbridge common shares, other than Fairfax and its affiliates, will be entitled to receive $39 in cash per share by way of the redemption of redeemable preferred shares of the amalgamated corporation.
As soon as practicable following completion of the amalgamation, it is expected that all common shares of Northbridge will be de-listed from the Toronto Stock Exchange.
In addition, Northbridge has made an application to the Canadian securities regulatory authorities for an order that Northbridge will no longer be a reporting issuer (or equivalent) under applicable Canadian securities laws.

DMTI Spatial (DMTI), a Canadian provider of location intelligence solutions, has introduced the second piece of a new, six-piece product designed to give risk managers an electronic means to measure geographic risk.
DMTI has introduced the second of six Location Content Cartridges (LCC), which are intended to expand risk analysis undertaken in mortgage and property and casualty insurance.
“Underwriters evaluating risk and exposure of potential location can now perform deeper and more effective analysis to gain insight into risk and price for it accordingly,” the company says in a release. “This is accomplished partly by considering the location proximity to surrounding natural and man-made location features that are deemed as positive or negative influences.
“With the ability to see risk for all geographical areas within Canada, property and casualty insurance companies can create a comprehensive picture from which to measure clients and prospects against.”