TORONTO, Dec. 7, 2021 /CNW/ - Intact Financial
Corporation (TSX: IFC) announced today that Ken Norgrove has been appointed to the role of
RSA CEO, UK & International,
effective January 10, 2022, subject
to regulatory approval. Mr. Norgrove succeeds Scott Egan who will be leaving RSA at the end of
2021.
Ken Norgrove was most recently
CEO of RSA Scandinavia from 2019 until deal completion in
June 2021. Prior to that Ken was CEO
of RSA Ireland and led the very successful turnaround of that
business from 2014 to 2019.
Mr. Norgrove will report to Charles
Brindamour, CEO Intact Financial Corporation and
Mark Hodges, Chairman of the RSA UK
& International Board. He will also sit on the IFC Operating
Committee.
Charlotte Jones, RSA's Chief
Financial Officer, will serve as Interim CEO until such a time as
Mr. Norgrove's regulatory approvals have been received.
"I am pleased to welcome Ken
Norgrove back to RSA as CEO UK & International as we
build on the momentum of the last few years and set our sights on
achieving sustainable outperformance," said Charles Brindamour, CEO, Intact Financial
Corporation. "Ken brings an excellent knowledge of RSA and the
insurance industry to his role and his passion for RSA and its
success is very clear."
"I want to thank Scott Egan for
his service to RSA over the last six years. Scott has done a
tremendous job leading the turnaround of the UK&I business. He
built a very strong team, and the performance of the business is
much improved because of his leadership. We wish him all the best
in his future endeavours."
"Finally, I want to extend my gratitude to Charlotte for her
leadership of the business on an interim basis, which will ensure
we finish 2021 strongly and maintain our momentum into 2022."
Mark Hodges commented: "Ken is
well known and respected in the market and by the team and I'm
delighted to welcome him to the Board. He is coming back to RSA at
a critical time as we chart our path to outperformance."
"I'd also like to thank Charlotte for her energy and exceptional
commitment to RSA. She has been an instrumental part of our success
in the last three years, and her support throughout the transition
to new ownership is second to none."
"Scott's accomplishments in improving our performance over the
last three years provide the foundation for this next phase of our
development. On behalf of the Board, I'd like to thank him for his
significant contribution to RSA and wish him well for his next
challenge."
Mr. Norgrove's history with RSA dates back to 1986, including a
four-year term in the UK where he set up and grew the very
successful Global Renewable Energy Business. He also spent one year
as a VP at Travelers Insurance and three years as CEO, Zurich
General Insurance (Ireland)
between 2010 and 2014 before re-joining RSA. Ken is a Chartered
Insurer and fellow of the Chartered Insurance Institute (CII).
About Intact Financial Corporation
Intact Financial Corporation (TSX: IFC) is the largest provider
of property and casualty (P&C) insurance in Canada, a leading provider of global specialty
insurance, and, with RSA, a leader in the U.K. and Ireland. Our business has grown organically
and through acquisitions to over $20
billion of total annual premiums.
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 also provides
affinity insurance solutions through the Johnson Affinity
Groups.
In the U.S., 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.
Outside of North America, the
Company provides personal, commercial and specialty insurance
solutions across the U.K., Ireland, Europe and the Middle East through the RSA brands.
Forward-Looking Statements
Certain statements made in this press release are
forward-looking statements. These statements include, without
limitation, statements relating to future management appointments
and structure. All such forward-looking statements are made
pursuant to the 'safe harbour' provisions of applicable Canadian
securities laws.
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. Many factors could
cause the Company's actual results, performance or achievements or
future events or developments to differ materially from those
expressed or implied by the forward-looking statements. In the case
of future management appointments and structure, these are subject
to regulatory approval which may impact the expected outcome.
All of the forward-looking statements included in this press
release are qualified by these cautionary statements and those made
in the "Risk Management" sections of our Q2-2021 Management's
Discussion and Analysis (Section 19), and of our 2020 Annual
Management's Discussion and Analysis, in Notes 10 and 13 of our
Consolidated Financial Statements for the year ended December 31, 2020 and in our Annual Information
Form dated March 31, 2021, all of
which are available on our web site
at www.intactfc.com or on SEDAR at www.sedar.com.
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.
When relying on forward-looking statements to make decisions,
investors should ensure the preceding information is carefully
considered. Undue reliance should not be placed on forward-looking
statements made in this press release. The Company has no intention
and undertakes 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