First stock in the clip; he also owns it personally. As can be seen, he just purchased more. GLTA
https://www.bnnbloomberg.ca/video/brian-madden-s-top-picks~2314138
Intact Financial (IFC TSX)
Last bought in Nov. 2021 at $165.75
With a 21 per cent market share, Intact Financial is the largest property and casualty insurer in Canada. Intact underwrites auto, home, commercial and specialty insurance policies and is best known for the efficiency of its operations and its consistent underwriting profitability which enables them to target a return on equity 5 per cent higher than its rivals and which currently stands at 19 per cent.
As a consolidator of the fragmented insurance market, Intact has grown earnings at a 20 per cent compound rate over the last five years and their recent $12B transformational acquisition of RSA Insurance extends their reach into the UK & Ireland.
Long term macroeconomic forces like climate change and rising property values advantage Intact through higher policy premiums on higher insured property values and over the medium term, a “hardening” (i.e. premiums are rising steadily) property and casualty insurance market is providing a significant tailwind to their financial results.
TOP PICK
Intact Financial(IFC-T)
02/11/2021
Largest P&C insurer in Canada. 21% market share. Efficient operations. Consistent profitability, 5% above that of industry rivals. Consolidator. Now on the map in the UK and Ireland. Longer term, climate change and rising property values advantage them. Yield is 2%. (Analysts’ price target is $196.08)
INSURANCE
Brian Madden
$165.230
Owned