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.…
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…
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…
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…
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.…
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…
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…
By acquiring managing general agents, Intact Financial Corp. gets a new stream of revenue and an opportunity to grow its commercial specialty business, says the leader of Intact’s MGA operations. When Intact acquired The Guarantee Company of North America from…
Intact Financial Corp. is changing the brand name of Frank Cowan Company, the managing general agent it acquired in 2019 from Princeton Holdings. The MGA will be known as Intact Public Entities Inc. “The MGA distribution channel presents a strategic…
Motorists could be hit with more premium increases once driving levels return to pre-pandemic levels, Intact Financial Corp. CEO Charles Brindamour suggests. During the early part of 2020, Canada’s auto insurers had a collective combined ratio in auto more than…
Mid-sized commercial clients are going to get bigger, so executives with Canada’s largest property and casualty insurer want to continue their expansion in specialty lines. “We are really scaling up our specialty lines capability here in North America,” Intact Financial…
Intact and Danish insurer Tryg’s $10.4-billion play for RSA Insurance Group plc topped the list of Canada’s largest deals announced in 2020 Q4, according to a recent report by corporate law firm Miller Thomson. The report defines the largest M&A…