Keyword
Intact
What Intact paid for Cats last quarter
January 12, 2022 by Jason ContantIntact paid out an estimated $186 million for catastrophe losses in 2021 Q4, the company reported. “Approximately 55% of the catastrophe losses were in our Canada segment, with half in personal property,” IFC says in a press release. “This mostly…
How much Intact has improved its personal property loss ratio
November 15, 2021 by Greg MeckbachAs home insurance prices continue to climb, Intact Financial Corp. reported an underwriting profit in personal property in the latest quarter, despite higher-than-normal weather catastrophe losses. The personal property line “should operate” with combined ratios below 95% “even with severe…
Why Intact is paying out less on total auto losses
November 10, 2021 by Greg MeckbachIntact Financial Corp. is maintaining a mid-80s combined ratio on its Canadian personal auto book of business, with a slight decrease in the severity of total losses. At Intact, the severity of claims on auto physical damage was 5% higher…
Intact discusses RSA talent, Wawanesa looks to expand footprint in Ontario
October 22, 2021 by Jason ContantLouis Gagnon, Intact Insurance’s president of Canadian operations, is pleased with the insurer’s integration of RSA into its operations and the calibre of talent it has acquired. At the beginning of June, Intact Financial Corporation and Danish insurer Tryg A/S…
Biggest insurers will soon control more of the market: A.M. Best
September 16, 2021 by Greg MeckbachCanada’s Top 5 property and casualty insurers control nearly half the market, with the largest increasing their market share further, an A.M. Best Company analyst said Wednesday. About two-thirds of direct premiums written, in Canadian P&C insurance, are controlled by…
Why Intact CEO predicts more rate increases for homeowners
September 16, 2021 by Greg MeckbachDespite a significant industry-wide drop, over three years, in home insurance loss ratios, the CEO of Canada’s biggest carrier is predicting rate increases. “In home insurance, our perspective is that we will see a mid- to upper-single-digit rate increase environment,”…
More room for industry consolidation and Intact wants to keep growing: CFO
August 11, 2021 by Greg MeckbachIntact is probably not finished acquiring more Canadian insurers even with its recent acquisition of RSA Canada. On June 1, Intact closed a three-way deal in which Intact and Tryg A/S acquired London-based RSA plc. As a result, Intact now…
Will Intact re-enter the B.C. auto market?
August 9, 2021 by Greg MeckbachIntact Insurance could re-enter the British Columbia auto market but only if the provincial government provides “options and convenience” to motorists, says Intact Financial Corp. CEO Charles Brindamour. It has been eight months since Intact announced it is leaving the…
Intact’s latest observations on driving habits during pandemic
July 29, 2021 by Greg MeckbachWhile 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…
Former Bermuda reinsurer CEO now on Intact board of directors
July 23, 2021 by Greg MeckbachEmmanuel 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…
Intact agrees to sell former RSA operation for $1.26 billion
June 14, 2021 by Greg MeckbachLess 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…
Thompson leaving RSA Canada following Intact acquisition
June 1, 2021 by Greg MeckbachRSA 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…