Amalgamation

Press Release

If you are one of our valued policyholders, then you are also one of our members. We don’t have any shareholders. Instead, a mutual insurance company like Caradoc Delaware is accountable to our members. We exist only for your benefit. You are in the driver’s seat, and we want to let you know about something important.

At a Special General Meeting on June 28, our members voted by well over two-thirds in favour of amalgamating with Townsend Mutual Insurance Company (TMIC).  And on that same day, the TMIC members voted to amalgamate with us.

Here is our joint press release.

Anticipating final approval from the Financial Services Commission of Ontario in the coming days, our amalgamation will take effect on January 1st, 2018.  The new company will operate under the name of Caradoc Townsend Mutual Insurance Company.  We’ll keep you informed on our progress…watch this space for updates!

Please be sure to check back for updates