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Intact’s latest observations on driving habits during pandemic

July 29, 2021 by Greg Meckbach

While more than 100,000 Canadians a day are getting their COVID-19 shots, Canada’s biggest auto insurer is noticing an increase in driving activity but things are not quite back to normal. “Driving activity has been on the rise since early

News AppointmentsInsurance

Former Bermuda reinsurer CEO now on Intact board of directors

July 23, 2021 by Greg Meckbach

Emmanuel Clarke, a former CEO of Bermuda insurer PartnerRe Ltd., is now on Intact Financial Corporation’s board of directors, Toronto-based Intact announced Thursday. Clarke, a French national, was appointed CEO of PartnerRe in 2016, shortly after EXOR S.p.A. completed its

News Insurance

Intact agrees to sell former RSA operation for $1.26 billion

June 14, 2021 by Greg Meckbach

Less than two weeks after the takeover of RSA plc closed, the insurers who bought RSA are now agreeing to sell RSA’s former operation in Denmark. At the moment, Toronto-based Intact Financial Corp. owns half of Codan Forsikring A/S’s Danish

News Appointments

Thompson leaving RSA Canada following Intact acquisition

June 1, 2021 by Greg Meckbach

RSA Canada CEO Martin Thompson is leaving the company, says the insurer’s new owner, Intact Financial Corp. Intact and Danish insurer Tryg A/S announced Tuesday they have completed their acquisition of London-based RSA PLC. As part of the deal, Toronto-based

News Insurance

Where Intact sees commercial premiums heading after pandemic is over

May 26, 2021 by Greg Meckbach

Many commercial clients are “hurting” because of COVID-19, but once the pandemic is over, small businesses currently under lockdown could see their insurance rates rise, Intact Financial Corp. executives suggest. “The biggest difference between the environment in which we operate

News ClaimsClaims CanadaInsurance

What’s driving auto claims costs during pandemic

May 21, 2021 by Greg Meckbach

The long-tail nature of auto bodily injury claims, in addition to insurers’ fixed claims adjustment costs, are among the reasons why insurers are not likely going to reduce auto premiums in proportion to the drop in driving observed during COVID-19.

News InsuranceMergers and Aqcuisitions

How high Intact’s market share could climb before competition becomes an issue

May 18, 2021 by Greg Meckbach

Intact’s market share could approach 30% before it potentially runs into resistance from domestic competition regulators, a senior executive suggested Tuesday. After the closure of the three-way deal for Intact and Tryg A/S to acquire RSA plc, Intact will have

News Mergers and Aqcuisitions

Next steps for integrating RSA into Intact

May 17, 2021 by Greg Meckbach

As Intact puts the “final touches” on its proposed acquisition of RSA Canada, Intact’s executives say they may be looking at “strategic alternatives” for some of the RSA plc operations it has agreed to acquire. During Intact’s 2021 Q1 earnings

News Insurance

Big Moves: The P&C industry’s recent executive shuffles

May 17, 2021 by Jason Contant

Intact Financial Corporation, Trisura Guarantee Insurance Company, and brokerages NFP and Westland Insurance Group all announced changes at the senior executive level over the past week. Patrick Barbeau, Intact Patrick Barbeau will become Intact Financial Corporation’s executive vice president and

News ClaimsClaims CanadaInsurance

How Intact views auto claims severity during pandemic

May 14, 2021 by Greg Meckbach

The long-tail nature of motor vehicle liability and auto accident benefits claims means a temporary drop in total miles driven due to the pandemic does not necessarily equate to a corresponding drop in premiums for your clients, Intact executives suggest.

News ClaimsClaims CanadaLegalRestoration

Coverage dispute arises as to whether construction exclusion applies to building under renovation

May 13, 2021 by Greg Meckbach

Editor’s Note: In an earlier version of this story, Canadian Underwriter incorrectly reported that Intact was denied leave to appeal an earlier court finding that a building renovation does not necessarily trigger an “under-construction” exclusion. In fact, the Court of

News Mergers and Aqcuisitions

Intact-RSA deal awaits final clearance for takeoff on June 1

May 6, 2021 by David Gambrill

Intact Financial Corporation and Dutch insurer Tryg A/S have received all anti-trust and regulatory approvals for the acquisition of RSA Insurance Group plc, setting the stage for closing the mega-merger within a month. The last items remaining on the to-do