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Intact Financial Corp T.IFC

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

Financial Services Insurance - Property & Casualty
Intact Financial Corporation is a Canada-based provider of property and casualty insurance in Canada. The Company’s segments include Canada, UK & International, and US. The Canada segment is engaged in underwriting of automobile, home and business insurance contracts to individuals and businesses in Canada distributed through a network of brokers and directly to consumers. The UK & International segment is engaged in underwriting of automobile, home, pet and business insurance contracts to businesses in the United Kingdom, Europe, and Ireland as well as internationally through the Company’s global network. The Company distributes insurance through a wide network of affinity partners and brokers or directly to consumers. The US segment is engaged in underwriting of specialty contracts mainly to small to medium-sized businesses in the United States. The Company distributes insurance through independent agencies, brokers, wholesalers and managing general agencies.


TSX:IFC - Post by User

Intact Financial Corp > RBC
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Post by retiredcfon Apr 04, 2022 9:03am
204 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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