New York’s Starr Insurance to directly write commercial lines in Canada after OSFI order

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.”