Intact is the largest Property/Casualty (P/C) insurer in Canada, with a market share of over 20% after taking over the Canadian operations of UK insurer RSA in 2021. The acquisition also extended Intact’s geographical reach to the UK and Ireland. RSA’s operations have lower profitability than those in Canada, giving Intact the opportunity of raising margins.
Wealth Builder
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Income Investor
Buy. The stock has risen from lows near $190 a share at the end of 2023 to a recent $228. In addition, Intact has raised its dividend by $0.11, to $1.21 a quarter (a 10% compound annual growth rate over 10 years), equivalent to a yield of 2.1%. We recommended taking half profits at the end of 2022. Intact remains attractive for its industry-leading profitability, market share, and capable management. - Gavin Graham
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IFC was first recommended here on April 20, 2011