Intact Insurance History

This project will serve the purpose of a full analysis to our greatest capacity of one of the largest insurers in Canada, Intact Insurance. Many topics will be discussed like the history of the company, the types of insurance business written by the company, and their “numbers”, is the geographical area in which the company conducts business, and what advantages/ disadvantages do they possess, the company’s “spread of risk”, the business issues that the company is facing at present, and in the future, their primary (and secondary) competition, the marketing thrusts that the company uses; are there any niches in which the company operates, any financial statement “oddities”?, the company’s stock performed over the past 12 months, and lastly

Intact Financial Corporation is a Canadian insurance company; once the ING Group subsidiary ING Canada. It is Canada's prominent provider of property and casualty insurance (home, auto and business, 17% of the Canadian market). It also serves the private, public and commercial (trucks, snowmobiles) vehicle market, and provides other provisions of business insurance. Intact started out as the Halifax Fire Insurance Association in 1809. In the 1950s, Dutch insurer Nationale-Nederlander established itself in Canada by securing the Halifax Insurance Company; Dutch immigration to Canada attracted Nationale-Nederlander to the country. Nationale-Nederlander then made its first foremost move in the 1970s when it took over Quebec insurers Commerce Group and Blair which was then shadowed by Western Union of Alberta. In 1993 Nationale-Nederlander's Canadian businesses were merged and renamed ING

The deal, paid for in part by a loan facility, raising the segment of business coming from property and casualty insurance. Although the acquisition of AXA Canada improves business stability, being less reliant on Ontario's auto insurance market. Moody's, an investor’s service provider planned to subordinate Intact’s credit rating one rank lower from Aa3 since of "less financial flexibility". To help repay the loan, Intact suggested to finance the AXA acquisition, in January 2012 it sold AXA Canada's life insurance sector to Quebec City based SSQ Financial Group for $300 million.

On September 5, 2012 Intact Financial completed the $530 million takeover of Jevco, a property and casualty insurance company with annual direct premiums of $350 million. Jevco was formerly a part of Westaim Corp and Kingsway Financial Corp. Quite astonishing, many of the requests on the insurers Frequently Asked Page, consisted of

So in essence, of the period 1993-2012, Intact Insurance strategically acquired and sold competing companies to better place their assets. This means that their assets became significantly more liquid and aided their climb to the top of the leaderboard of Canadian