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Intact Financial Corp IFTPF


Primary Symbol: T.IFC Alternate Symbol(s):  INTAF | T.IFC.P.A | T.IFC.P.C | T.IFC.P.E | IFZZF | T.IFC.P.F | T.IFC.P.G | T.IFC.P.I | T.IFC.P.K | INFFF | IFCZF

Financial Services Insurance - Property & Casualty
Intact Financial Corporation is a Canada-based company, which provides property and casualty (P&C) insurance. The Company's segment includes Canada, US and UK & International. The Canada segment is engaged in the underwriting of automobile, home and business insurance contracts to individuals and businesses in Canada distributed through a network of brokers and directly consumers. The UK & International segment is engaged in underwriting of automobile, home, pet and business insurance contracts to individuals and businesses in the United Kingdom, Europe, Ireland and Middle East, as well as internationally. The Company distributes insurance through a network of affinity partners and brokers or directly to consumers. The US segment is engaged in the underwriting of specialty contracts mainly to small and midsize businesses in the United States. In Canada, the Company distributes insurance under the Intact Insurance brand through a network of brokers.


TSX:IFC - Post by User

Intact Financial Corp > RBC
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Post by retiredcfon Apr 04, 2022 9:03am
164 Views
Post# 34572458

RBC

RBC

April 4, 2022

Intact Financial Corporation 
Sale of RSA Middle East announced

Sentiment: Neutral.

Outperform

TSX: IFC; CAD 184.67

Price Target CAD 216.00

Our view: While this sale is not material to Intact, the announcement is consistent with our investment thesis in that we have long viewed monetization(s) and/or an asset swap as part of Intact's game plan for creating value from its acquisition of RSA. We still believe that further monetization(s) and/or an asset swap could occur, which would be a positive catalyst for the stock. Intact remains our #1 best idea reflecting positive fundamentals, potential catalysts, very defensive attributes and attractive valuation.

Summary: Intact announced the sale of its 50.00002% shareholding in RSA Middle East B.S.C.(c) to National Life & General Insurance Company, which is majority owned by Oman International Development and Investment Co. SAOG (OMINVEST), subject to regulatory approvals. The transaction is expected to close by the end of Q3/22.


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