Intact is the largest Property/Casualty (P/C) insurer in Canada, with almost 20% market share after the acquisition of the Canadian operations of UK insurer RSA, a deal which closed this month. Intact consistently outperforms the industry in terms of profitability and CEO Chares Brindamour aims to outperform the industry Return on Equity (RoE) by 5% annually over time.
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