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ST. PAUL FIRE AND MARINE INSURANCE COMPANY STRENGTHENS CANADIAN OPERATIONS

 ST. PAUL FIRE AND MARINE INSURANCE COMPANY
 STRENGTHENS CANADIAN OPERATIONS
 ST. PAUL, Minn., April 7 /PRNewswire/ -- St. Paul Fire and Marine Insurance Company today announced that it has moved all Canadian insurance operations to its International Division, separating them from U.S. operations, effective immediately. This action is designed to strengthen the company's Canadian property and liability insurance operations and better position them for growth in the country's commercial insurance market, according to Douglas W. Leatherdale, chairman, president and chief executive officer, who made the announcement today during a visit to the Canadian headquarters office in Toronto, Ontario.
 "This action will in no way affect our U.S. operations, which remain the stronghold of St. Paul Fire and Marine," said Leatherdale. "As part of The St. Paul's International Division, the Canadian operations will have greater independent authority to structure insurance products and services to respond to the unique needs of the Canadian marketplace," he continued. "With The St. Paul's niche market expertise, we have recently been able to introduce new underwriting capabilities for the technology industry in Canada, and other specialty insurance practices will be established soon."
 According to Leatherdale, the profitability problems with personal automobile insurance that have caused other U.S. property and liability insurers to consider withdrawing from the Canadian market have not affected St. Paul Fire and Marine. While the company does offer homeowners' insurance, it is predominantly a commercial insurer and does not write personal auto liability coverage in Canada. However, fleet auto insurance is offered as a part of some commercial insurance coverage.
 The St. Paul's Canadian operations were originally established in 1866 in Red River Settlement, in what is present-day Winnipeg, Manitoba. The Canadian headquarters office was moved from Winnipeg to Toronto, Ontario in 1967. The company currently maintains four Canadian service offices, employing a total of 83 people.
 In 1991, the Canadian operations of St. Paul Fire and Marine Insurance Company produced $2.2 million in underwriting income and total pre-tax income of $21.4 million, compared to a $5.6 million loss in underwriting income and total pre-tax income of $11.1 million for 1990 (Dollars quoted are Canadian). The 1991 loss ratio was 56.4 and the expense ratio was 38.5, for a combined ratio of 94.9 percent. This compares with a loss ratio of 74.9 and an expense ratio of 37.8, for a combined ratio of 112.7 percent in 1990.
 The International Division oversees marketing and underwriting for products and services of St. Paul Fire and Marine Insurance Company in Canada, the United Kingdom (St. Paul UK) and Spain (St. Paul Espana). The International Division also coordinates The St. Paul's underwriting of property and liability insurance for multi-national clients with operations in virtually all countries worldwide.
 St. Paul Fire and Marine Insurance Company, the 19th largest property-liability insurer in the United States, is a member of The St. Paul Companies. The company sells insurance and insurance-related products and services through a network of independent insurance agents and brokers. The St. Paul Companies' stock is traded on the New York Stock Exchange under the symbol "SPK".
 -0- 4/7/92
 /CONTACT: Kathy Trill of The St. Paul Companies, 612-221-7349 or 416-366-8301; or Marian Briggs of Padilla Speer Beardsley, 612-871-8877, for The St. Paul Companies/
 (SPK) CO: St. Paul Fire and Marine Insurance Company; The St. Paul Companies ST: Minnesota IN: INS SU:


KH -- MN006 -- 5830 04/07/92 12:18 EDT
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Publication:PR Newswire
Date:Apr 7, 1992
Words:576
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