Intact is the largest property/casualty (P&C) insurer in Canada, with a market share of over 20% after its takeover of the Canadian operations of UK insurer RSA in 2021. The acquisition extended Intact’s geographical reach as it included the UK and Irish operations of RSA, which had lower margins than Intact.
At the end of 2023, Intact sold its UK personal lines business to Admiral for £83 million, with another £33 million in earnout provisions. It acquired Direct Line Insurance brokered commercial platform for approximately £500 million, leaving it with 95% of its UK business in commercial lines.
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