Keyword
Intact
Hybrid brokerage/agency rebrands following merger
April 18, 2024 by Jason ContantQuebec brokerages PMA Assurances and PMT ROY Assurances et services financiers have merged under the name Ellipse Agence en assurance de dommages inc., creating what the firm is calling the province’s largest damage insurance agency distributing Intact Insurance products exclusively.…
How Intact plans to approach auto pricing in 2024
February 21, 2024 by David GambrillIntact delivered a combined ratio of 94.7% in its auto insurance business in 2023, and the company expects to post a similar auto result in 2024 as well, Intact Financial Corporation CEO Charles Brindamour said today in a virtual fireside…
Intact reports Q3 wildfire claims losses
September 1, 2023 by David GambrillIntact Financial Corporation is projecting $570 million Cdn in pre-tax losses due to wildfires in 2023 Q3, the company announced Thursday. Intact has a national Canadian P&C insurance market share of 18.7% based on $12.6 billion of net premiums written…
How Intact CEO views the M&A landscape
August 11, 2023 by Jason ContantM&A transactions involving large-value brokerage deals do not reflect a trend and likely aren’t sustainable, Intact Financial Corporation CEO Charles Brindamour suggested during a recent earnings call. “If I go towards distribution, which are smaller transactions, I think we’ve seen…
Intact provides update on RSA profitability, remaining priorities
August 8, 2023 by Jason ContantTwo years after Intact Financial Corporation acquired RSA Canada (and some other operations outside Canada), value creation from the acquisition has exceeded expectations, Intact’s chief financial officer said during an earnings call last week. “We estimate that annual RSA synergies…
What’s driving Intact’s high personal property combined ratio?
August 3, 2023 by Jason ContantIntact Financial Corporation (IFC) saw an elevated combined ratio (undiscounted) of 119.2% in its Canadian personal property segment in 2023 Q2, driven in part by twice the expected level of Cat losses. The 119.2% combined ratio in Intact’s personal property…
How much Intact paid in second quarter Cat losses
July 13, 2023 by Alyssa DiSabatinoIntact Financial Corporation saw an estimated $335 million in catastrophe losses in Canada for the second quarter of 2023, the insurer revealed in a release. Comparatively, the company handled over a million claims and paid out over $10 billion globally in…
How Intact’s personal auto segment fared in 2023 Q1
May 15, 2023 by Jason ContantIntact Financial Corporation grew its Canadian personal auto premium volume 5% in 2023 Q1 from one year ago, and continues to see positive growth in the segment, CEO Charles Brindamour said during a 2023 Q1 earnings call last week. “Top-line…
Where Intact sees personal auto and inflation heading
May 12, 2023 by Jason ContantIntact Financial Corporation expects inflation’s effect on personal auto to continue to tame, but the insurer has levers in place if the uncertain economic environment throws another curveball, senior executives said during a 2023 Q1 earnings call. Personal auto premiums…
Where Intact CEO sees the hard market heading in 2023
April 4, 2023 by Alyssa DiSabatinoEditor’s Note: This version corrects an earlier one in which it was suggested Intact CEO Charles Brindamour was predicting the beginning of a soft market cycle for the Canadian P&C industry, when in fact he was arguing the opposite (that…
Intact reveals fourth quarter catastrophe loss estimate
January 12, 2023 by Alyssa DiSabatinoIntact’s Canadian segment experienced an estimated $77 million, pre-tax, in catastrophe losses during the last quarter of 2022, the company said in a report. That figure is below the previous year’s fourth quarter losses. The Canadian cat losses were mostly…
Canada’s largest P&C insurers growing larger: AM Best
September 12, 2022 by Jason ContantCanada’s Top 10 property and casualty insurers control almost three-quarters of the marketplace, with the remaining participants competing for the balance of available premium, ratings agency AM Best said during an industry event Friday. The Top 10 P&C carriers control…