20:32:50 EST Sat 08 Feb 2025
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Intact Financial Corp
Symbol IFC
Shares Issued 178,363,968
Close 2025-01-22 C$ 258.07
Market Cap C$ 46,030,389,222
Recent Sedar Documents

Intact Financial global specialty lines CEO to retire

2025-01-22 18:44 ET - News Release

Mr. Charles Brindamour reports

INTACT FINANCIAL CORPORATION ANNOUNCES TRANSITION IN GLOBAL SPECIALTY LINES LEADERSHIP

T. Michael Miller will retire from his current role as Intact Financial Corp.'s chief executive officer, global specialty lines, effective March 31, 2025. He will remain with the organization serving as chairman, global specialty lines, and the Intact Financial board will also be appointing and welcoming him as a director of Intact Financial following his retirement. Mr. Miller's retirement follows a successful 44-year career in the property and casualty industry, including 13 years at OneBeacon Insurance and the past seven years at Intact, which acquired OneBeacon in 2017.

"Mike has been a valued member of our senior leadership team whose impact has been felt beyond specialty lines," said Charles Brindamour, chief executive officer, Intact Financial. "He has built an impressive global platform centred around outperformance and a highly engaged team. I am grateful for his many contributions and that we will be able to continue to tap into his expertise and insights as chairman, GSL, and a member of our board."

Under Mr. Miller's leadership, the company's specialty platform has more than tripled in size, growing from $2-billion in premiums primarily in North America to over $6-billion with global operations, which include the United Kingdom and Europe, and access to 150 territories through its global network. Mr. Miller also delivered meaningful profitability improvements through progress in pricing and underwriting sophistication.

Emmanuel Clarke, currently serving as Intact Financial corporate director and chairman of Intact Financial's GSL advisory board, will succeed Mr. Miller as chief executive officer, GSL, and will concurrently step down from the board. Mr. Clarke has had a long and established career in the insurance sector, having spent more than 25 years at PartnerRe, a leading global reinsurer, where he served as president and CEO from 2015 to 2020. In recent years he has served on several insurance-related corporate boards advising executives, investors and founders on how best to accelerate growth across the insurance value chain.

"As a board member, Emmanuel has already made strong contributions to our specialty business," stated Mr. Brindamour. "He is highly engaged and energized by opportunities. I look forward to working with him as CEO, GSL, as we continue to pursue our objective of $10-billion in direct premiums written by 2030 at a sustained sub-90s combined ratio."

About Intact Financial Corp.

Intact Financial is the largest provider of property and casualty insurance in Canada, a leading provider of global specialty insurance, and, with RSA, a leader in the United Kingdom and Ireland. Its business has grown organically and through acquisitions to over $22-billion of total annual premiums.

In Canada, Intact Financial distributes insurance under the Intact Insurance brand through agencies and a wide network of brokers, including its wholly owned subsidiary BrokerLink. Through belairdirect, Intact Financial distributes directly to consumers. Intact Financial also provides affinity insurance solutions through affinity groups and travel insurance, as well as exclusive and tailored offerings through Intact Prestige.

In the United States, Intact Insurance Specialty Solutions provides a range of specialty insurance products and services through independent agencies, regional and national brokers, and wholesalers and managing general agencies.

In the U.K., Ireland and Europe, Intact Financial provides personal, commercial and/or specialty insurance solutions through the RSA, NIG and FarmWeb brands.

© 2025 Canjex Publishing Ltd. All rights reserved.