PLYMOUTH, Minn., Nov. 11, 2021 /PRNewswire/ -- Intact Financial Corporation (TSX: IFC) announced today that it is bringing together the expertise and capabilities of both Intact and RSA to bolster its specialty solutions platform. RSA's London Market and European businesses will become part of Intact Global Specialty Lines.
"As we've shared from the start, the combined strength that Intact and RSA bring in global specialty lines enhances what we can offer to customers and brokers," said T. Michael Miller, Chief Executive Officer, Global Specialty Lines. "With these changes, we will broaden our distribution footprint, provide existing specialty franchises access to new regions and ensure customers and brokers can benefit from the full breadth of specialized expertise from across the organization."
With the addition of RSA's London Market and Europe teams, Intact Global Specialty Lines will operate and be present in four major markets – Canada, U.S., UK and Europe - with strong, local leadership, international expertise and capabilities. Customers and brokers will benefit from a larger team of experts, access to new markets, and a wider product and solution set.
"Today, the North American specialty business spans across 20 different segments with deep specialized underwriting, claims and risk control expertise. Working together with our RSA colleagues, we're accelerating our strategy to build a leading global specialty platform and making great progress against our objectives of growing the business to $6 billion in annual DPW and achieving a low 90s combined ratio by 2025. Our expanded scale and strength of the team enable us to provide second-to-none experiences for customers and continue delivering outperformance wherever we operate in specialty lines," added Mr. Miller.
Intact received all necessary approvals and completed the acquisition of RSA Insurance Group plc. ("RSA") on June 1, 2021.
About Intact Insurance Specialty Solutions: Throughout the United States, Intact Insurance Specialty Solutions' underwriting companies offer a broad range of specialty insurance products through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment, and providing distinct products and tailored coverages and services. Targeted solutions include group accident and health; commercial and contract surety; entertainment; environmental; excess property; financial institutions; financial services; inland marine; management liability; ocean marine; public entities; technology; and tuition refund. For further information about U.S. products and services visit: intactspecialty.com.
Intact Insurance Specialty Solutions is the marketing brand for the insurance company subsidiaries of Intact Insurance Group USA LLC, a member of Intact Financial Corporation (TSX: IFC), the largest provider of property and casualty insurance in Canada and a leading specialty insurance carrier in North America. The insurance company subsidiaries of Intact Insurance Group USA LLC include Atlantic Specialty Insurance Company, a New York insurer, Homeland Insurance Company of New York, a New York insurer, Homeland Insurance Company of Delaware, a Delaware insurer, OBI America Insurance Company, a Pennsylvania insurer, OBI National Insurance Company, a Pennsylvania insurer, and The Guarantee Company of North America USA, a Michigan insurer. Each of these insurers maintains its principal place of business at 605 Highway 169 N, Plymouth, MN 55441, except The Guarantee Company of North America USA, which is located at One Towne Square, Southfield, MI 48076. For information about Intact Insurance Specialty Solutions products and services available in Canada, visit: intactspecialty.ca and for information about Intact Financial Corporation, visit: intactfc.com
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SOURCE Intact Insurance Specialty Solutions
