TORONTO, May 20, 2021 /CNW/ - Intact Financial Corporation
(TSX: IFC) today announced its new Operating Committee in
anticipation of closing of the acquisition of RSA Insurance Group
plc (the "Acquisition"). These appointments will be effective upon
completion of the Acquisition, which is expected on June 1, 2021.
"I am pleased to share the names of the individuals appointed to
IFC's Operating Committee to ensure we deliver on our 10-year
strategic roadmap. This team is made up of key talent across Intact
and RSA, setting us up for continued success as we focus on
customers, employees and outperformance," said Charles Brindamour, Chief Executive Officer,
Intact Financial Corporation. "We have a strong team with deep and
wide-ranging experience. This updated structure recognizes
increased levels of accountability across key business lines,
regions and functions as Intact prepares to integrate and
transition the RSA business and accelerate our strategy."
The following individuals will form Intact Financial
Corporation's Operating Committee:
- Scott Egan, Chief Executive
Officer, UK & International
- Louis Gagnon, Chief Executive
Officer, Canada
- T. Michael Miller, Chief
Executive Officer, Global Specialty Lines
- Patrick Barbeau, Executive Vice
President & Chief Operating Officer
- Ken Anderson, Executive Vice
President, Corporate Development & Investor Relations
- Frederic Cotnoir, Executive Vice
President & Chief Legal Officer
- Anne Fortin, Executive Vice
President, Direct Distribution and Chief Marketing and
Communications Officer (reports to Louis
Gagnon)
- Darren Godfrey, Executive Vice
President, Global Specialty Lines (reports to T. Michael Miller)
- Charlotte Jones, Chief Financial
Officer, UK & International. Will also oversee Scandinavia and
act as Co-Head of Integration (reports to Scott Egan)
- Louis Marcotte, Executive Vice
President & Chief Financial Officer
- Benoit Morissette, Executive
Vice President, Chief Risk & Actuarial Officer
- Werner Muehlemann, Executive
Vice President & Managing Director, Intact Investment
Management Inc.
- Carla Smith, Executive Vice
President & Chief People, Strategy and Climate Officer. Will
also act as Co-Head of Integration.
The above individuals, unless otherwise noted, report to
Charles Brindamour.
Notes to editors:
- On May 11, 2021, Intact reported
that all financing is secured and all required regulatory and
anti-trust approvals for the Acquisition of RSA Insurance Group plc
have been received.
- The High Court of Justice in England and Wales in London must now formally approve the
transaction at a court hearing. This hearing is scheduled for
May 25, 2021. Upon approval, the
Acquisition is expected to close on June 1,
2021.
- Intact previously announced that Scott
Egan will remain as CEO of RSA
UK & International following completion of the
Acquisition and Patrick Barbeau will
be appointed to Executive Vice President & Chief Operating
Officer effective May 31, 2021.
- Charlotte Jones and Carla Smith will act as co-Heads of Integration
following closing.
About Intact Financial Corporation
Intact Financial Corporation is the largest provider of property
and casualty (P&C) insurance in Canada and a leading provider of specialty
insurance in North America, with
over $12 billion in total annual
premiums. The Company has over 16,000 employees who serve more than
five million personal, business and public sector clients through
offices in Canada and the U.S.
In Canada, Intact distributes
insurance under the Intact Insurance brand through a wide network
of brokers, including its wholly-owned subsidiary BrokerLink, and
directly to consumers through belairdirect. Intact Public Entities,
a Canadian Managing General Agent (MGA), distributes public entity
insurance programs including risk and claims management services in
Canada.
In the U.S., Intact Insurance Specialty Solutions provides a
range of specialty insurance products and services through
independent agencies, regional and national brokers, wholesalers
and managing general agencies. Products are underwritten by the
insurance company subsidiaries of Intact Insurance Group
USA, LLC.
Cautionary note regarding forward-looking statements
Certain of the statements included in this press release about
the Acquisition, including the timing and closing thereof, or
any other future events or developments including the appointment
of officers, constitute forward-looking statements. The words
"may", "will", "would", "should", "could", "expects", "plans",
"intends", "trends", "indications", "anticipates", "believes",
"estimates", "predicts", "likely", "potential" or the negative or
other variations of these words or other similar or comparable
words or phrases, are intended to identify forward-looking
statements. Unless otherwise indicated, all forward-looking
statements in this press release are made as of May 20, 2021 and are subject to change after that
date.
Forward-looking statements are based on estimates and
assumptions made by management based on management's experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors that management
believes are appropriate in the circumstances. In addition to other
estimates and assumptions which may be identified herein, estimates
and assumptions have been made regarding, among other things, the
receipt of the approval of the High Court of Justice in
England and Wales of the Acquisition. However, the
completion of the Acquisition is subject to customary closing
conditions, termination rights and other risks and uncertainties,
and there can be no assurance that the Acquisition will be
completed within anticipated timeframes or at all.
All of the forward-looking statements included in this press
release are qualified by these cautionary statements and those made
in the section entitled Risk Management (Sections 28-33) of our
MD&A for the year ended December 31,
2020, the section entitled Risk Management (section 19) of
our MD&A for the quarter ended March 31,
2021 and the section entitled Risk Factors - Risks Related
to the Acquisition of our presentation entitled "Building a Leading
P&C Insurer" dated November 18,
2020 and available on our website. These factors are not
intended to represent a complete list of the factors that could
affect the Company. These factors should, however, be considered
carefully. Although the forward-looking statements are based upon
what management believes to be reasonable assumptions, the Company
cannot assure investors that actual results will be consistent with
these forward-looking statements. Investors should not rely on
forward-looking statements to make decisions, and investors should
ensure the preceding information is carefully considered when
reviewing forward-looking statements contained herein. The Company
and management have no intention and undertake no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
SOURCE Intact Financial Corporation