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Intact Financial Corp T.IFC

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

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
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Post by retiredcfon Jun 20, 2022 9:01am
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Post# 34768373

RBC

RBCJune 17, 2022

Intact Financial Corporation
Announces acquisition of Highland Insurance Solutions, a U.S. MGA

TSX: IFC | CAD 172.47 | Outperform | Price Target CAD 216.00

Sentiment: Neutral

Our take: We think the acquisition of Highland is consistent with Intact’s growth strategy to invest in distribution and the U.S. specialty lines business. Intact is our #1 best idea for 2022 given its positive fundamentals, potential catalysts (e.g., RSA divestiture(s)/asset swap), strong defensive attributes and an attractive valuation.

Summary: Intact agreed to acquire Highland Insurance Solutions, a U.S.-based managing general agent focused on the builders risk segment of the U.S. construction market, from Tokio Marine Kiln, a subsidiary of the Tokio Marine Group. The transaction is expected to close in H2/22, but other terms of the transaction were not disclosed.

Highland Insurance Solutions is headquartered in Naperville, Illinois with a team of 40 and will continue to operate as a standalone managing general agent under Intact.


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