Intact Financial Corporation announces approval for normal course issuer bid

TORONTO, Feb. 12, 2026 /CNW/ - Intact Financial Corporation (TSX: IFC) (the "Company") announced today that a normal course issuer bid ("NCIB") authorized by its Board of Directors to purchase for cancellation during the next 12 months up to 5,326,847 common shares, representing approximately 3% of its issued and outstanding common shares as at the close of business on February 3, 2026, has been approved by the Toronto Stock Exchange ("TSX").

At the close of business on February 3, 2026, there were 177,561,557 common shares issued and outstanding. The actual number of common shares which will be purchased for cancellation and the timing of any such purchases will be determined by the Company. The Company believes that its NCIB provides a flexible means of distributing a portion of its excess capital to shareholders who choose to participate in the program. Under the Company's NCIB during the preceding 12-month period, a maximum of 5,350,283 common shares were approved for purchase (representing 3% of the Company's issued and outstanding common shares as at February 3, 2025) and the Company purchased, as of February 3, 2026, 798,825 common shares for a weighted average price of $270.55 per common share, on the open market through the facilities of the TSX and Canadian alternative trading systems.

Purchases under the NCIB will be made by means of open market transactions through the facilities of the TSX as well as through other designated exchanges and alternative trading systems in Canada. The TSX's rules permit the Company to purchase a daily maximum of 108,504 common shares through TSX facilities, subject to any block purchases made in accordance with TSX rules, which is 25% of the average daily trading volume of common shares for the six months ending on January 31, 2026.

The Company has entered into an automatic share purchase plan under which its designated broker will repurchase the Company's common shares during the NCIB.  The automatic share purchase plan allows for purchases by the Company of its common shares during certain pre-determined black-out periods, subject to certain parameters. Outside of these pre-determined black-out periods, shares will be purchased at management's discretion. Purchases for cancellation may also be made through such other means as a securities regulatory authority may permit, including by way of pre-arranged crosses or by way of private agreements outside the facilities of the TSX pursuant to exemption orders. The price to be paid by the Company for any shares will be the market price at the time of acquisition or such other price as a securities regulatory authority may permit. Purchases for cancellation made by way of private agreements under an issuer bid exemption order issued by a securities regulatory authority will be at a discount to the prevailing market price as provided in the exemption order.

Purchases of common shares may commence on or about February 17, 2026 and will expire on the earlier of February 16, 2027, or the date on which the Company has either acquired the maximum number of common shares allowable or otherwise decided not to make any further repurchases.

About Intact Financial Corporation

Intact Financial Corporation (TSX: IFC) is a global provider of property and casualty insurance founded on core values and a belief that insurance is about people, not things. Intact's success is fueled by its 32,000 employees worldwide who embody the company's purpose: to help people, businesses and society prosper in good times and be resilient in bad times. To achieve its ambitions, Intact seeks to ensure customers are its advocates, its people are engaged and the company is one of the most respected.   

Intact is the largest provider of property and casualty insurance in Canada and has successfully exported its strengths across North America, the UK and Europe. Its growing commercial and specialty solutions network now spans over 150 countries. With a customer-driven mindset, Intact has expanded its operations to include insurance distribution, restoration and prevention. 

Intact solidifies its outperformance by leveraging its competitive advantages: global leadership in data and AI for pricing and risk selection; deep claims expertise and integrated supply chain network; and strong capital and investment management. Intact's total annual operating Direct Premiums Written has tripled over the last decade to $25 billion. Explore Intact's offerings at intactfc.com. 

Forward Looking Statements

Certain statements made in this news release are forward-looking statements. These statements include, without limitation, statements relating to the terms and operation of the Company's normal course issuer bid as well as the Company's intention to repurchase its common shares. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws.

Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements as a result of various factors, including: a decision by the Company not to repurchase all or a portion of the total number of shares it is authorized to repurchase, those discussed in the Company's most recently filed Annual Information Form and those discussed in the Company's most recently filed annual MD&A. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against unduly relying on any of these forward-looking statements. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Please refer to the cautionary note of the Company's most recently filed MD&A.   

SOURCE Intact Financial Corporation

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