Special Meeting of Directors - June 24, 2013
Meeting Info
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Agenda
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Meeting Minutes
Members
Members
- Chair Peter Milczyn
- Vice-Chair John Parker
- Karen Stintz
- Brian Leck
- Michael Roche
- Vincent Rodo
Members
Members
- Chair Peter Milczyn
- Vice-Chair John Parker
- Karen Stintz
- Brian Leck
- Michael Roche
- Vincent Rodo
Declaration of Interest - Municipal Conflict of Interest Act
Resolution to conduct a portion of the meeting in the absence of the public (Committee Of The Whole) in accordance with Section 29 of the TTC by-law to govern Commission proceedings and Section 190 of the City of Toronto Act
Education/Training (TTC Procedural By-Law Section 29(B) and City of Toronto Act Section 190 (3.1)
Nil
Business Arising Out of Minutes
Nil
Public Presentations
Requests to speak must be registered by 12:00 Noon of the business day preceding meeting day.
Notices of Motions
Nil
Motions Without Notice
Nil
Items of Which Notice has Previously Been Given
Nil
Items Deferred From Last Meeting to Permit Debate/Public Presentation
Nil
1. Reports with Confidential Attachments
Nil
2. Presentations
Nil
3. Other Business
- Actuarial Financial Review (For Action)
- Draft Financial Statements of TTC Insurance Company Limited for the year ended December 31, 2012 (For Action)
- Update on Proposed Solvency Reforms (For Information)
4. New Business
Nil
5. Correspondence
A correspondence summary will be distributed at the meeting.
A meeting of the Board of Directors was held in Committee Room 3, 2nd Floor, City Hall, 100 Queen Street West, Toronto, on Thursday, June 21, 2012 at 2:07 p.m. for the purpose of discussing business related to the Company.
Present
P. Milczyn (Chair – TTCICL), J. Parker (Vice-Chair - TTCICL), K. Stintz (Director - TTCICL), J. Colle, M. Augimeri (TTC Commissioners), V. Rodo (President), M.A. Roche (Treasurer), B.M. Leck (General Counsel), A. Byford, M. Ferreira, and J. Cheng (Actuary from J.S. Cheng & Partners) were present.
Vincent Rodo was in the Chair.
In this section
In this section
Minutes of the Previous Meeting
The Directors reviewed and approved the minutes of the above mentioned meetings and authorized the Chair and Secretary to sign the same.
Items Deferred From Last Meeting to Permit Debate/Public Presentations
Nil
1. Reports with Confidential Attachments (Committee Of The Whole)
Nil
2. Presentations
Nil
3. Other Business
(a) Actuarial Financial Review
The Board received the 2011 annual actuarial report and approved the Expected Future Financial Condition (EFFC) for 2011 that forecasts the expected future financial condition of TTC Insurance Company Limited. The Board also received from the actuary a presentation of the 2011 EFFC report.
(b) Draft Financial Statements for the Year Ended December 31, 2011
The Board of Directors approved the following recommendation as amended:
i. The financial statements of TTC Insurance Company Limited for the year ended December 31, 2011, and
ii. Forwarding a copy of the approved financial statements to the Shareholders for information.
(c) Proposed Solvency Reforms
The Board received the report with respect to the Financial Services Commission of Ontario’s proposed changes to the solvency regime for information.
4. New Business
Nil
5. Correspondence
Nil
The meeting adjourned at 2:15 p.m.