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Biggest insurers will soon control more of the market: A.M. Best

September 16, 2021 by Greg Meckbach

Canada’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

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Why Intact CEO predicts more rate increases for homeowners

September 16, 2021 by Greg Meckbach

Despite 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,”

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Why and where Intact wants to buy more MGAs

September 12, 2021 by Greg Meckbach

Don’t be surprised if Intact Financial Corp. buys managing general agents in the United States who place commercial specialty insurance. “We think there is a big opportunity at the MGA level. We are still focused on that,” Intact CEO Charles

News InsuranceMergers and Aqcuisitions

More room for industry consolidation and Intact wants to keep growing: CFO

August 11, 2021 by Greg Meckbach

Intact 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

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Will Intact re-enter the B.C. auto market?

August 9, 2021 by Greg Meckbach

Intact 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

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Why Intact has no intention of selling BrokerLink

August 4, 2021 by Greg Meckbach

If you knock on Intact’s door offering money to buy its BrokerLink subsidiary, prepare to get rejected. “You are far more likely to see us putting way more capital in [the property and casualty insurance brokerage] space than the other

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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

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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

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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

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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

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Updated: What emergency relief will insurers offer customers? Here’s what they told us

May 31, 2021 by Adam Malik

Editor’s notes: This story has been updated to include additional information from Allstate. Insurance Bureau of Canada announced in 2020 that its members are offering reductions in auto insurance premiums for consumers whose driving habits have changed significantly. You can

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