Intact Financial Corp. has officially consolidated its Canadian and U.S. specialty insurance operations under a single brand, an expected action following two acquisitions.
The Toronto-based carrier said its new Intact Insurance Specialty Solutions unifies both operations. As Intact noted, the U.S. businesses previously encompassed OneBeacon Insurance Group and The Guarantee Company of North America, which Intact acquired, respectively, in 2017 and 2019.
Charles Brindamour, Intact Financial’s CEO, said that the consolidation helps the company move forward in the United States.
“Our commitment to building a world class specialty insurance provider takes an important step forward today as we bring the Intact brand to the U.S., Brindamour said in prepared remarks. “We see strong future growth potential in our specialty lines business given our team’s expertise and our robust solutions for Canadian, cross-border and U.S. customers and brokers.”
Intact’s combined specialty operations includes more than 20 areas of focus for the line, with nine serving both Canadian and U.S. Customers, according to the company. Additionally, Intact claims to be the sixth largest provider in Surety Bonds in North America.
Intact Insurance Specialty Solutions underwriting companies sells coverage through independent agencies, regional and national brokers, wholesalers and managing general agencies in North America. Intact insurance company subsidiaries underwrite the coverage.
Currently, Intact has close to 16,000 employees who serve more than 5 million personal, business and public sector clients through offices in the U.S. and Canada.
Source: Intact Financial Corp.