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- Deal expected to close in the second quarter
- Losses must result from the commodities dealer’s insolvency
- Bank will support its covered bond program by committing sufficient additional collateral
- Results reflect the extremely challenging environment in 2011, CEO says
- Team lead is Stephane Rozier, who most recently served as president and CEO of MF Global Canada
- Net income for fiscal 2011 up 15%
- Insurer plans to unveil more details on its strategic review of operations during an investor day scheduled for March 8
- Insurer takes $635 million one-time charge to exit from individual insurance products in the U.S.
- 90% acceptance from shareholders achieved
- No change following DBRS review