What’s New: In Brief (May 22, 2009)

Co-operators General Insurance Company has entered into an agreement with a syndicate of financial underwriters, in which the syndicate will purchase 4 million Series D Preference shares from Co-operators General and then sell them to the public at $25 per share.The agreement would amount to gross proceeds to the company of Cdn$100 million. The syndicate of underwriters is co-led by Scotia Capital Inc. and TD Securities Inc. The syndicate also includes BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Desjardins Securities Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Blackmont Capital Inc., Dundee Securities Corporation and Industrial Alliance Securities Inc.

Intact Financial Corporation has obtained a receipt for a final short form base shelf prospectus, allowing Intact to offer an aggregate of any combination of up to Cdn$2 billion in debt, preferred or common share securities, subscription receipts, warrants, share purchase contracts and units over a 25-month period. These filings replace a similar prospectus filed in October 2007 and reflect the resolutions approved by the shareholders at their May 13 meeting to change the name and authorized capital of the company. Intact also announced it has filed a supplement to its base shelf prospectus establishing a medium term note program that would allow Intact to issue unsecured medium term notes(MTNs) in an amount of up to Cdn$500 million.