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
View original
content:https://www.prnewswire.com/news-releases/intact-financial-corporation-bolsters-its-global-specialty-lines-business-301422123.html
SOURCE Intact Insurance Specialty Solutions
