Optimum General Inc. is merging its Quebec and Ontario-based property and casualty insurance subsidiaries.

The merger is expected to be completed by July 1 and will combine Ontario-based Optimum Frontier Insurance and Quebec-based Optimum Insurance Co. Inc., the company announced today. The merged company will be governed by the laws of Quebec and be known as Optimum Insurance Co. Inc.

“This simplification of the corporate structure is a continuation of a process that began over two years ago with the rationalization of the administration of our subsidiaries,” said Jean-Claude Page, vice-chairman and CEO, Optimum General.

“The insurance operations of both companies are currently administered by the same management team based in Montreal. This merger will provide, among other things, for streamlined accounting and regulatory reporting, leading to greater efficiency and economies.”

Optimum General is a property and casualty insurer that employed 249 people at the end of 2003.

The company is part of the Optimum Group, an international financial company also active in life insurance, life reinsurance, consulting and financial services.