- Intact Financial Corporation is Canada's largest personal and commercial property and casualty insurer, with over $6.5 billion in annual premiums written.
- Intact has a significant scale advantage over its competitors, holding a 16.5% market share that is over twice as large as its closest competitor.
- Intact has consistently outperformed the top 20 P&C insurers in Canada over the past 10 years across key metrics like combined ratio, premium growth, return on equity, and loss ratios.
Intact Financial Corporation is Canada's largest home, auto, and business insurer. Some key points:
- Largest P&C insurer in Canada with $6.5B in direct premiums written and #1 in several provinces.
- Has significant scale advantage as the top 5 insurers represent 42.9% of the market while Intact alone has 16.5% market share.
- Consistently outperforms the industry, with combined ratios 3.8 points lower and return on equity 7.7 points higher over 10 years.
- In the first half of 2011, direct premiums grew 2% and the combined ratio was 96.7% compared to the industry average of
Intact Financial Corporation is Canada's largest personal and commercial property and casualty insurer. The document summarizes Intact's acquisition of AXA Canada, which will make Intact significantly larger. The acquisition is a strong strategic fit that will boost Intact's premiums by over 40% and bolster its risk selection, claims management, and distribution capabilities. It is financially compelling with an expected internal rate of return of 20% and accretion to earnings. The combined company will have a leading market position and outperform industry benchmarks for return on equity and combined ratio, maintaining a strong financial position.
Intact Financial Corporation is acquiring AXA Canada to become the largest P&C insurer in Canada. The acquisition strengthens Intact's position with over $6.5 billion in annual premiums and enhances its expertise in commercial lines and in provinces like Quebec. The combination improves diversification and is expected to outperform the industry's return on equity by at least 500 basis points annually due to synergies and underwriting performance. The acquisition maintains Intact's strong financial position and is financially compelling with an internal rate of return of 20% and accretion to earnings per share.
The document discusses Intact Financial Corporation's acquisition of AXA Canada. The key points are:
1) The acquisition strengthens IFC's position as the largest property and casualty insurer in Canada, increasing its premiums by over 40%.
2) The acquisition is financially compelling with an expected internal rate of return of 20% and accretion to net operating income per share.
3) Combining the two companies creates a leading P&C insurer in Canada and provides numerous diversification and synergistic benefits.
Intact Financial Corporation (IFC) held an investor presentation in August 2010. IFC is Canada's largest provider of property and casualty insurance with over $4 billion in annual premiums. The presentation highlighted IFC's consistent outperformance of the industry through disciplined pricing, underwriting, and capital management. IFC outlined opportunities for future growth through firming market conditions, consolidation in the Canadian P&C market, and expanding its existing distribution platforms and markets.
Intact Financial Corporation presented its investor presentation for June 2010. The presentation highlighted Intact's position as the dominant property and casualty insurer in Canada with over $4 billion in annual premiums written. Intact has a significant scale advantage over its competitors and has consistently outperformed the industry on key metrics like combined ratio and return on equity. The presentation also summarized Intact's strong financial results for the first quarter of 2010, including net operating income per share growth of 62.1% and an annualized return on equity of 16.1%.
Intact Financial Corporation presented an investor presentation in March 2010. The presentation highlighted Intact as the dominant property and casualty insurer in Canada, with over $4 billion in direct premiums written. Intact has substantial size and scale advantages over its competitors due to its market share leadership positions in key provinces and a track record of successful acquisitions. The presentation also noted Intact's consistent outperformance of the P&C insurance industry over 10 years in areas like premium growth, combined ratio, and return on equity. Intact aims to continue its strong organic growth through its large broker network and by targeting the growing 50+ demographic market.
This document provides an investor presentation for Intact Financial Corporation (IFC) from September 2010. IFC is Canada's largest provider of property and casualty insurance, with over $4 billion in annual premiums written. The presentation outlines IFC's strong financial position, industry-leading underwriting performance, and growth strategies. Key points include IFC's consistent outperformance of the Canadian P&C industry benchmarks on measures like combined ratio and return on equity. The presentation also discusses IFC's excess capital position, debt capacity, and acquisition strategy to capitalize on consolidation opportunities in the market. Multiple avenues for organic growth are outlined, including leveraging IFC's multi-channel distribution network and expanding product offerings.
Intact Financial Corporation is Canada's largest home, auto, and business insurer. Some key points:
- Largest P&C insurer in Canada with $6.5B in direct premiums written and #1 in several provinces.
- Has significant scale advantage as the top 5 insurers represent 42.9% of the market while Intact alone has 16.5% market share.
- Consistently outperforms the industry, with combined ratios 3.8 points lower and return on equity 7.7 points higher over 10 years.
- In the first half of 2011, direct premiums grew 2% and the combined ratio was 96.7% compared to the industry average of
Intact Financial Corporation is Canada's largest personal and commercial property and casualty insurer. The document summarizes Intact's acquisition of AXA Canada, which will make Intact significantly larger. The acquisition is a strong strategic fit that will boost Intact's premiums by over 40% and bolster its risk selection, claims management, and distribution capabilities. It is financially compelling with an expected internal rate of return of 20% and accretion to earnings. The combined company will have a leading market position and outperform industry benchmarks for return on equity and combined ratio, maintaining a strong financial position.
Intact Financial Corporation is acquiring AXA Canada to become the largest P&C insurer in Canada. The acquisition strengthens Intact's position with over $6.5 billion in annual premiums and enhances its expertise in commercial lines and in provinces like Quebec. The combination improves diversification and is expected to outperform the industry's return on equity by at least 500 basis points annually due to synergies and underwriting performance. The acquisition maintains Intact's strong financial position and is financially compelling with an internal rate of return of 20% and accretion to earnings per share.
The document discusses Intact Financial Corporation's acquisition of AXA Canada. The key points are:
1) The acquisition strengthens IFC's position as the largest property and casualty insurer in Canada, increasing its premiums by over 40%.
2) The acquisition is financially compelling with an expected internal rate of return of 20% and accretion to net operating income per share.
3) Combining the two companies creates a leading P&C insurer in Canada and provides numerous diversification and synergistic benefits.
Intact Financial Corporation (IFC) held an investor presentation in August 2010. IFC is Canada's largest provider of property and casualty insurance with over $4 billion in annual premiums. The presentation highlighted IFC's consistent outperformance of the industry through disciplined pricing, underwriting, and capital management. IFC outlined opportunities for future growth through firming market conditions, consolidation in the Canadian P&C market, and expanding its existing distribution platforms and markets.
Intact Financial Corporation presented its investor presentation for June 2010. The presentation highlighted Intact's position as the dominant property and casualty insurer in Canada with over $4 billion in annual premiums written. Intact has a significant scale advantage over its competitors and has consistently outperformed the industry on key metrics like combined ratio and return on equity. The presentation also summarized Intact's strong financial results for the first quarter of 2010, including net operating income per share growth of 62.1% and an annualized return on equity of 16.1%.
Intact Financial Corporation presented an investor presentation in March 2010. The presentation highlighted Intact as the dominant property and casualty insurer in Canada, with over $4 billion in direct premiums written. Intact has substantial size and scale advantages over its competitors due to its market share leadership positions in key provinces and a track record of successful acquisitions. The presentation also noted Intact's consistent outperformance of the P&C insurance industry over 10 years in areas like premium growth, combined ratio, and return on equity. Intact aims to continue its strong organic growth through its large broker network and by targeting the growing 50+ demographic market.
This document provides an investor presentation for Intact Financial Corporation (IFC) from September 2010. IFC is Canada's largest provider of property and casualty insurance, with over $4 billion in annual premiums written. The presentation outlines IFC's strong financial position, industry-leading underwriting performance, and growth strategies. Key points include IFC's consistent outperformance of the Canadian P&C industry benchmarks on measures like combined ratio and return on equity. The presentation also discusses IFC's excess capital position, debt capacity, and acquisition strategy to capitalize on consolidation opportunities in the market. Multiple avenues for organic growth are outlined, including leveraging IFC's multi-channel distribution network and expanding product offerings.
Life Insurance industry has been witnessing low persistency (a policy's ability to be active and sustained premium payment)rate hence the proactive need for customer retention and maximizing renewal premium collection and need for monitoring the performance of intermediaries and agents could gain immense value from deriving highly usable recommendations.
The need for such inferences, importantly in a timely basis can't be more important than now as the rightful and the revised guidelines by the regulator ensures the need to minimize wrong selling, increased persistency and performance of all the stakeholders in Life Insurance to make business a flourishing one.
How did the evolving need of the industry coupled with constant change in market and competitive landscape was married and focused approaches were espoused through with tangible benefits on Customer Value Retention and Maximization & agent's performance improvement were met.
What are the recommendations from Sameer to individuals & enterprises who intend to devise their Analytical Vision for their respective organization, what are the areas to be considered before embarking such a journey
.
Insurance 2020 - Innovating beyond old modelsChristian Bieck
The document discusses key megatrends shaping the insurance industry in 2020 according to experts at the IBM Institute for Business Value.
1. Active and informed consumers across demographic groups will reward non-traditional operators.
2. Technology will virtualize the insurance value chain and lower barriers to entry.
3. Insurance products will have more granular building blocks, providing more even revenue streams.
4. Regulatory coordination and affirmed industry standards will broaden to international scales.
The Korea Fund underperformed its benchmark, the MSCI Korea Index, in the fourth quarter of 2012 by 39 basis points. Within sectors, stock picks in consumer discretionary hurt performance while selections in industrials and an underweight in financials helped. Growth stocks strongly outperformed value stocks last quarter, contrasting the third quarter. The Fund initiated positions in selected IT and consumer names and exited a credit card company due to regulatory changes.
The Korea Fund saw a 9.86% rally in the third quarter of 2012, driven by actions from the ECB and Fed to support the Eurozone and US economies. The fund underperformed its benchmark by 245 basis points due to stock picks in consumer discretionary, industrials, and quality/value styles outperforming growth and large caps. Materials and healthcare stock picks contributed most to performance while consumer discretionary and industrials detracted. The Korean won appreciated against the dollar and may continue strengthening.
HSIC is the largest distributor of healthcare products and services to office-based practitioners in North America and Europe. It has grown significantly since becoming a public company in 1995, with worldwide sales increasing from $616 million to $5.9 billion in 2007. HSIC services the dental, medical, and animal health markets through a broad product offering and value-added services. It has key strengths in sales and marketing expertise, centralized infrastructure, customer service, and practice management software. HSIC's strategies focus on expanding services to partner with customers and improve their efficiency, productivity, and profitability.
Henry Schein, Inc. (HSIC) is the largest distributor of healthcare products and services to office-based practitioners in North America and Europe. It has over 75 years of experience and serves dental, medical, and animal health customers. HSIC has experienced significant growth since becoming a public company in 1995, with sales increasing from $616 million to $6.4 billion in 2008. It aims to partner with customers to improve their efficiency, productivity, and profitability through products, services, and practice management solutions. Key strategies for future growth include expanding value-added offerings and increasing customer penetration.
The document discusses the results of a global survey of 347 venture capital firms from 9 countries on IPO market conditions and their impact on the venture capital industry. Key findings include that over 80% of respondents believe current IPO activity levels in their home country are too low. Respondents felt that higher returns from IPOs are important for venture capital returns and company growth. Most firms plan to maintain or increase international investing. The survey found that an active IPO market, both domestic and international, is seen as important or essential to the success of venture capital in most countries represented.
3i Infotech reported subdued quarterly results with a 1.4% increase in revenue. EBITDA margins declined slightly despite a 10% wage hike. The bottom line declined from the previous quarter due to higher costs and taxes, though it improved year-over-year. The company maintained its full-year revenue guidance, expecting growth of 11-14% driven by a strong order backlog. While initiatives to boost integrated offerings are expected to drive long-term growth, margins may be pressured in the near-term from operational investments. The report maintains a Buy recommendation based on a revised target price implying a 6x forward P/E multiple.
by Location, FY 2010 (in INR Lakhs)
1) R&D operating costs in India have continued to decline over the past 24 months, generating significant cost savings for headquarters. However, strengthening of the INR against the USD had a marginal negative impact on further cost declines.
2) The cost of operations decreases as company size increases due to cost optimization efforts and economies of scale, and increases with larger headcounts due to overhead costs.
3) Bangalore has the highest personnel costs in India and therefore the maximum overall cost of operations.
The document contains information from several charts published by Raddon Financial Group between May 2012 and April 2012. The charts show trends related to consumers' use of financial products and services like loans, bank accounts, credit cards, and insurance. The document provides an overview of consumers' perceptions and behaviors regarding various financial topics during this period.
Business in Indonesia may have emerged from the global financial crisis more or less unscathed, but companies in the country cannot escape the higher expectations of corporate accountability that have come in its wake. Indeed according to the results of the 2010 Edelman Trust Barometer, informed publics in Indonesia have higher expectations of corporate accountability than any other country in Asia Pacific.
The results of this year’s study indicate that business in Indonesia cannot afford to relax, despite the strong performance of the local economy,” said Chadd McLisky, chairman of IndoPacific Edelman. “Trust has evolved from being a welcome side effect of corporate activity to a distinct line of business that companies must monitor closely and manage effectively in order to maintain a license to operate.”
Visit http://www.indopacedelman.com/ for more info.
New insights and data on pricing capital in today’s competitive environment from the Pepperdine Private Capital Markets Project show challenges remain for lenders, investors and the private business that depend on them. Lead researcher John Paglia presented at the National Summit for Middle Market Funds.
Intact Financial Corporation is Canada's largest home, auto, and business insurer. Some key points:
- Largest P&C insurer in Canada with $6.5B in direct premiums written and #1 in several provinces.
- Has significant scale advantage as the top 5 insurers represent 42.9% of the market while Intact alone has 16.5% market share.
- Consistently outperforms the industry, with combined ratios 3.8 points lower and return on equity 7.7 points higher over 10 years.
- In the first half of 2011, direct premiums grew 2% while maintaining strong underwriting results and a combined ratio 3.3 points better
IFC Investor Presentation September 2011mehradahari
Intact Financial Corporation is Canada's largest home, auto, and business insurer. Some key points:
- Largest P&C insurer in Canada with $6.5B in direct premiums written and #1 in several provinces.
- Has significant scale advantage as the top 5 insurers represent 42.9% of the market while Intact alone has 16.5% market share.
- Consistently outperforms the industry, with combined ratios 3.8 points lower and return on equity 7.7 points higher over 10 years.
- In the first half of 2011, direct premiums grew 2% while maintaining strong underwriting results and a combined ratio 3.3 points better
Intact Financial Corporation is Canada's largest property and casualty insurer, with $6.5 billion in direct premiums written. The presentation outlines Intact's leading market position, consistent outperformance of industry benchmarks, and strong financial position. Intact also details its acquisition of AXA Canada, which will strengthen its scale, diversification, and industry-leading performance, positioning Intact for continued growth.
Intact Financial Corporation is Canada's largest home and auto insurer, with $7 billion in annual premiums. It has consistently outperformed the industry in key metrics like combined ratio, return on equity, and growth. Intact aims to continue growing organically and through acquisitions in Canada's fragmented insurance market. Recent acquisitions of AXA Canada and JEVCO are on track to deliver synergies. Challenges include a low interest rate environment and elevated catastrophe losses. Intact is well capitalized and pursuing growth through firming market conditions, developing existing brands, industry consolidation, and potential international expansion.
Intact Financial Corporation is Canada's largest personal and commercial property and casualty insurer, with $7 billion in annual premiums written. It has leading market shares in several Canadian provinces and consistently outperforms the industry on key metrics like combined ratio and return on equity. Intact has a diversified business mix across personal and commercial lines as well as regions. It expects to continue outperforming peers in 2013 through scale advantages, underwriting expertise, and a balanced investment portfolio.
Intact Financial Corporation is Canada's largest personal and commercial insurer. It has $6.5 billion in direct premiums written and is the number 1 insurer in several Canadian provinces. The presentation outlines Intact's scale advantages, consistent outperformance of industry metrics like combined ratio and return on equity, and strategic focus areas of enhancing its business mix, pursuing acquisitions, and returning capital to shareholders. Intact is well positioned for continued growth and outperformance relative to the Canadian property and casualty insurance industry.
The document discusses Intact Financial Corporation's acquisition of AXA Canada. The key points are:
1) The acquisition strengthens IFC's position as the largest property and casualty insurer in Canada, increasing its premiums by over 40%.
2) The acquisition is financially compelling with an expected internal rate of return of 20% and accretion to net operating income per share.
3) Combining the two companies creates a leading P&C insurer in Canada and provides numerous diversification and synergistic benefits.
Intact Financial Corporation held an investor presentation in February 2011. The presentation discussed IFC's position as the largest property and casualty insurer in Canada, with $4.5 billion in direct premiums written. It highlighted IFC's consistent outperformance of the Canadian P&C industry, including a 10-year combined ratio that was 3.8 percentage points better than the industry average. The presentation also outlined IFC's growth strategies, including organic growth through its multiple distribution channels and the potential for industry consolidation through acquisitions.
Life Insurance industry has been witnessing low persistency (a policy's ability to be active and sustained premium payment)rate hence the proactive need for customer retention and maximizing renewal premium collection and need for monitoring the performance of intermediaries and agents could gain immense value from deriving highly usable recommendations.
The need for such inferences, importantly in a timely basis can't be more important than now as the rightful and the revised guidelines by the regulator ensures the need to minimize wrong selling, increased persistency and performance of all the stakeholders in Life Insurance to make business a flourishing one.
How did the evolving need of the industry coupled with constant change in market and competitive landscape was married and focused approaches were espoused through with tangible benefits on Customer Value Retention and Maximization & agent's performance improvement were met.
What are the recommendations from Sameer to individuals & enterprises who intend to devise their Analytical Vision for their respective organization, what are the areas to be considered before embarking such a journey
.
Insurance 2020 - Innovating beyond old modelsChristian Bieck
The document discusses key megatrends shaping the insurance industry in 2020 according to experts at the IBM Institute for Business Value.
1. Active and informed consumers across demographic groups will reward non-traditional operators.
2. Technology will virtualize the insurance value chain and lower barriers to entry.
3. Insurance products will have more granular building blocks, providing more even revenue streams.
4. Regulatory coordination and affirmed industry standards will broaden to international scales.
The Korea Fund underperformed its benchmark, the MSCI Korea Index, in the fourth quarter of 2012 by 39 basis points. Within sectors, stock picks in consumer discretionary hurt performance while selections in industrials and an underweight in financials helped. Growth stocks strongly outperformed value stocks last quarter, contrasting the third quarter. The Fund initiated positions in selected IT and consumer names and exited a credit card company due to regulatory changes.
The Korea Fund saw a 9.86% rally in the third quarter of 2012, driven by actions from the ECB and Fed to support the Eurozone and US economies. The fund underperformed its benchmark by 245 basis points due to stock picks in consumer discretionary, industrials, and quality/value styles outperforming growth and large caps. Materials and healthcare stock picks contributed most to performance while consumer discretionary and industrials detracted. The Korean won appreciated against the dollar and may continue strengthening.
HSIC is the largest distributor of healthcare products and services to office-based practitioners in North America and Europe. It has grown significantly since becoming a public company in 1995, with worldwide sales increasing from $616 million to $5.9 billion in 2007. HSIC services the dental, medical, and animal health markets through a broad product offering and value-added services. It has key strengths in sales and marketing expertise, centralized infrastructure, customer service, and practice management software. HSIC's strategies focus on expanding services to partner with customers and improve their efficiency, productivity, and profitability.
Henry Schein, Inc. (HSIC) is the largest distributor of healthcare products and services to office-based practitioners in North America and Europe. It has over 75 years of experience and serves dental, medical, and animal health customers. HSIC has experienced significant growth since becoming a public company in 1995, with sales increasing from $616 million to $6.4 billion in 2008. It aims to partner with customers to improve their efficiency, productivity, and profitability through products, services, and practice management solutions. Key strategies for future growth include expanding value-added offerings and increasing customer penetration.
The document discusses the results of a global survey of 347 venture capital firms from 9 countries on IPO market conditions and their impact on the venture capital industry. Key findings include that over 80% of respondents believe current IPO activity levels in their home country are too low. Respondents felt that higher returns from IPOs are important for venture capital returns and company growth. Most firms plan to maintain or increase international investing. The survey found that an active IPO market, both domestic and international, is seen as important or essential to the success of venture capital in most countries represented.
3i Infotech reported subdued quarterly results with a 1.4% increase in revenue. EBITDA margins declined slightly despite a 10% wage hike. The bottom line declined from the previous quarter due to higher costs and taxes, though it improved year-over-year. The company maintained its full-year revenue guidance, expecting growth of 11-14% driven by a strong order backlog. While initiatives to boost integrated offerings are expected to drive long-term growth, margins may be pressured in the near-term from operational investments. The report maintains a Buy recommendation based on a revised target price implying a 6x forward P/E multiple.
by Location, FY 2010 (in INR Lakhs)
1) R&D operating costs in India have continued to decline over the past 24 months, generating significant cost savings for headquarters. However, strengthening of the INR against the USD had a marginal negative impact on further cost declines.
2) The cost of operations decreases as company size increases due to cost optimization efforts and economies of scale, and increases with larger headcounts due to overhead costs.
3) Bangalore has the highest personnel costs in India and therefore the maximum overall cost of operations.
The document contains information from several charts published by Raddon Financial Group between May 2012 and April 2012. The charts show trends related to consumers' use of financial products and services like loans, bank accounts, credit cards, and insurance. The document provides an overview of consumers' perceptions and behaviors regarding various financial topics during this period.
Business in Indonesia may have emerged from the global financial crisis more or less unscathed, but companies in the country cannot escape the higher expectations of corporate accountability that have come in its wake. Indeed according to the results of the 2010 Edelman Trust Barometer, informed publics in Indonesia have higher expectations of corporate accountability than any other country in Asia Pacific.
The results of this year’s study indicate that business in Indonesia cannot afford to relax, despite the strong performance of the local economy,” said Chadd McLisky, chairman of IndoPacific Edelman. “Trust has evolved from being a welcome side effect of corporate activity to a distinct line of business that companies must monitor closely and manage effectively in order to maintain a license to operate.”
Visit http://www.indopacedelman.com/ for more info.
New insights and data on pricing capital in today’s competitive environment from the Pepperdine Private Capital Markets Project show challenges remain for lenders, investors and the private business that depend on them. Lead researcher John Paglia presented at the National Summit for Middle Market Funds.
Intact Financial Corporation is Canada's largest home, auto, and business insurer. Some key points:
- Largest P&C insurer in Canada with $6.5B in direct premiums written and #1 in several provinces.
- Has significant scale advantage as the top 5 insurers represent 42.9% of the market while Intact alone has 16.5% market share.
- Consistently outperforms the industry, with combined ratios 3.8 points lower and return on equity 7.7 points higher over 10 years.
- In the first half of 2011, direct premiums grew 2% while maintaining strong underwriting results and a combined ratio 3.3 points better
IFC Investor Presentation September 2011mehradahari
Intact Financial Corporation is Canada's largest home, auto, and business insurer. Some key points:
- Largest P&C insurer in Canada with $6.5B in direct premiums written and #1 in several provinces.
- Has significant scale advantage as the top 5 insurers represent 42.9% of the market while Intact alone has 16.5% market share.
- Consistently outperforms the industry, with combined ratios 3.8 points lower and return on equity 7.7 points higher over 10 years.
- In the first half of 2011, direct premiums grew 2% while maintaining strong underwriting results and a combined ratio 3.3 points better
Intact Financial Corporation is Canada's largest property and casualty insurer, with $6.5 billion in direct premiums written. The presentation outlines Intact's leading market position, consistent outperformance of industry benchmarks, and strong financial position. Intact also details its acquisition of AXA Canada, which will strengthen its scale, diversification, and industry-leading performance, positioning Intact for continued growth.
Intact Financial Corporation is Canada's largest home and auto insurer, with $7 billion in annual premiums. It has consistently outperformed the industry in key metrics like combined ratio, return on equity, and growth. Intact aims to continue growing organically and through acquisitions in Canada's fragmented insurance market. Recent acquisitions of AXA Canada and JEVCO are on track to deliver synergies. Challenges include a low interest rate environment and elevated catastrophe losses. Intact is well capitalized and pursuing growth through firming market conditions, developing existing brands, industry consolidation, and potential international expansion.
Intact Financial Corporation is Canada's largest personal and commercial property and casualty insurer, with $7 billion in annual premiums written. It has leading market shares in several Canadian provinces and consistently outperforms the industry on key metrics like combined ratio and return on equity. Intact has a diversified business mix across personal and commercial lines as well as regions. It expects to continue outperforming peers in 2013 through scale advantages, underwriting expertise, and a balanced investment portfolio.
Intact Financial Corporation is Canada's largest personal and commercial insurer. It has $6.5 billion in direct premiums written and is the number 1 insurer in several Canadian provinces. The presentation outlines Intact's scale advantages, consistent outperformance of industry metrics like combined ratio and return on equity, and strategic focus areas of enhancing its business mix, pursuing acquisitions, and returning capital to shareholders. Intact is well positioned for continued growth and outperformance relative to the Canadian property and casualty insurance industry.
The document discusses Intact Financial Corporation's acquisition of AXA Canada. The key points are:
1) The acquisition strengthens IFC's position as the largest property and casualty insurer in Canada, increasing its premiums by over 40%.
2) The acquisition is financially compelling with an expected internal rate of return of 20% and accretion to net operating income per share.
3) Combining the two companies creates a leading P&C insurer in Canada and provides numerous diversification and synergistic benefits.
Intact Financial Corporation held an investor presentation in February 2011. The presentation discussed IFC's position as the largest property and casualty insurer in Canada, with $4.5 billion in direct premiums written. It highlighted IFC's consistent outperformance of the Canadian P&C industry, including a 10-year combined ratio that was 3.8 percentage points better than the industry average. The presentation also outlined IFC's growth strategies, including organic growth through its multiple distribution channels and the potential for industry consolidation through acquisitions.
Intact Financial Corporation presented its investor presentation for June 2010. The presentation highlighted Intact's position as the dominant property and casualty insurer in Canada with over $4 billion in annual premiums written. Intact has a significant scale advantage over its competitors and has consistently outperformed the industry on key metrics like combined ratio and return on equity. The presentation also summarized Intact's strong financial results for the first quarter of 2010, including net operating income per share growth of 62.1% and an annualized return on equity of 16.1%.
This document is an investor presentation from Intact Financial Corporation outlining their business profile and strategy. The key points are:
1) Intact is the largest property and casualty insurer in Canada with $7 billion in direct premiums written and leading market shares across several provinces.
2) Intact has consistently outperformed the industry in terms of premium growth, combined ratio, and return on equity over the past 10 years, demonstrating scale advantages and underwriting expertise.
3) The presentation outlines Intact's strategic priorities of growing organically and through acquisitions, maintaining a strong capital position to pursue opportunities, and returning capital to shareholders through dividends and share buybacks.
Intact Financial Corporation is Canada's largest home, auto and business insurer. It has $6.5 billion in annual premiums and is the largest insurer in several Canadian provinces. Intact has consistently outperformed the Canadian property and casualty insurance industry over the past 10 years in key metrics like combined ratio, premium growth and return on equity. The presentation outlines Intact's scale advantages, investment portfolio, growth strategies and outlook for continued industry outperformance.
Intact Financial Corporation is Canada's largest personal and commercial insurer. Some key points:
- IFC has $6.5 billion in annual premiums and holds the #1 market share position in several Canadian provinces.
- IFC has consistently outperformed the Canadian P&C insurance industry over the past 10 years based on metrics like combined ratio, return on equity, and premium growth.
- IFC has a strong financial position with $11.8 billion in invested assets and excess capital of $435 million. The company pursues growth through acquisitions, organic expansion, and returning capital to shareholders.
- Looking ahead, IFC is well-positioned to continue outperforming competitors
This presentation provides an overview of Intact Financial Corporation, a leading property and casualty insurer in Canada. Key points include:
- Intact is the largest P&C insurer in Canada with $6.5 billion in direct premiums written and dominant market positions in several provinces.
- Intact has significant scale advantages over competitors and has consistently outperformed the industry in terms of growth, underwriting results, and returns.
- The company has a strong capital position with excess capital, high credit ratings, and a diversified, high-quality investment portfolio.
- Management's capital priorities are paying dividends to shareholders and pursuing acquisitions to further grow the business.
The document provides a summary of key findings about in-stream video advertising in 2012. Interactive pre-rolls achieved the highest click-through rates and engagement rates across global markets. Including a dismiss button for interactive pre-rolls can reduce page abandonment rates. Consumer packaged goods was the top advertising vertical in 2012 based on total campaigns and impressions. Quarter 4 proved to be the most active quarter for in-stream video advertising globally.
The Korea Fund underperformed the MSCI Korea benchmark in the second quarter of 2012, with the MSCI Korea dropping sharply by 8.6% in USD terms. Foreign investors sold a net $5 trillion worth of Korean equities, though the Korean won depreciated only moderately against the USD. During the quarter, the Fund outperformed its benchmark by 42 basis points due to strong stock picks in consumer discretionary, while IT and materials detracted. Quality stocks outperformed in the volatile market conditions, with low debt, low volatility stocks performing well.
DOW Business Services…
Accelerating Success
Powering up to serve Dow Businesses and JVs
By Niklas Meintrup
LogiChem 2011 will be the event's tenth anniversary and an opportunity for the most senior chemical supply chain & global logistics directors from the European chemicals community to come together once again share experiences, make new contacts and benchmark the latest chemical supply chain initiatives.
Not only will LogiChem 2011 be a chance for the chemical industry to reminisce about the last ten years but an opportunity to shape the next decade. To celebrate a decade of LogiChem, there will be an exciting three day programme filled with networking opportunities in our new location, Antwerp.
The document provides an overview of the global banking industry. It discusses trends in the industry, current challenges faced by banks, and variations across regions. Specifically, it notes that while banking is a large and growing industry, profitable growth is becoming more difficult to achieve. Banks are facing pressure to lower costs and increase revenues through fundamental changes and innovation. However, many banks are not seen as innovators. The document emphasizes that linking business model innovation with enabling technologies is critical for banks to overcome this integration gap and address current challenges.
The document provides an overview of Generali Group's 2010 results. Key highlights include:
- Total operating result increased 11.7% to €4.077 billion and net result increased 30% to €1.702 billion.
- Life net inflows were €16.1 billion and life new business margin was around 20% with an IRR of around 14%.
- Shareholders' equity increased 5% to €17.5 billion and the proposed cash dividend per share increased 28.6% to €0.45.
- The outlook expects good growth in 2011 with a total operating result average growth of 6.7% compared to 2010.
- VGi Global Media PCL presented its 2Q 12/13 earnings, showing strong YoY revenue growth of 39% and net profit growth of 162%.
- Key drivers of growth were the BTS-related Media and Office Building & Other Media businesses, which saw revenue increases of 21% and 47% respectively from the previous quarter.
- Gross and EBITDA margins improved significantly both quarter-on-quarter and year-on-year, demonstrating improved profitability.
- The presentation provided an industry overview and breakdowns of VGi's financial performance by business segment to analyze the sources of growth.
Similar to Ifc investor presentation november 2011 (20)
Intact Financial Corporation is Canada's largest home, auto and business insurer, with a 10-year track record of outperforming the industry. It aims to achieve a combined ratio in the low 90s, exceed industry return on equity by 5 points, and grow net operating income per share by 10% per year over time through organic growth, margin improvement and claims management. The acquisition of OneBeacon expanded Intact's presence in attractive specialty insurance lines in the US and provides a more balanced portfolio and geographic diversification.
Intact Financial Corporation is Canada's largest home, auto and business insurer, with a 17% market share in a fragmented industry. It has consistently outperformed the industry in terms of premium growth, combined ratio, and return on equity over the past 10 years. Intact aims to further improve profitability and grow its specialty solutions business in North America through organic growth initiatives and the recent acquisition of OneBeacon, which expanded its U.S. presence.
The document provides an investor presentation for Intact Financial Corporation, Canada's largest home, auto, and business insurer. Some key points:
- IFC has consistently outperformed the industry over the past 10 years in areas like premium growth, combined ratio, and return on equity.
- IFC aims to have 3 out of 4 customers as advocates who actively engage digitally, achieve a combined ratio in the low 90s, and exceed industry ROE by 5 points in Canada and the U.S.
- IFC has achieved its target of 10% annual growth in net operating income per share. It has also regularly exceeded its target of outperforming industry ROE by 500 basis points.
- Intact Financial Corporation is Canada's largest home, auto and business insurer with a 17.3% market share in a fragmented industry.
- IFC has consistently outperformed the industry over the past 10 years in terms of premium growth, combined ratio, and return on equity.
- IFC aims to continue growing profitably through organic growth, margin improvement, claims management, pricing and segmentation, and investments and capital management.
Intact Financial Corporation is Canada's largest home, auto and business insurer, with a 10-year track record of outperforming the industry. It has the largest market share in a fragmented Canadian property and casualty insurance industry. Intact aims to grow its net operating income per share by 10% per year and outperform the industry return on equity by 500 basis points annually through organic growth initiatives and acquisitions like the recent purchase of OneBeacon, which expanded Intact's U.S. presence. Intact maintains a strong financial position with excess capital and high credit ratings to support future growth opportunities.
- Intact Financial Corporation is Canada's largest home, auto and business insurer with over 5.9 billion in direct premiums written and a 17.3% market share.
- IFC has consistently outperformed the industry over 10 years in terms of premium growth, combined ratio, and return on equity.
- IFC aims to grow its net operating income per share by 10% per year, outperform the industry return on equity by 500 basis points annually, and have over 2 million customer advocates by 2020.
This document provides an investor presentation for Intact Financial Corporation, Canada's largest home, auto, and business insurer. Some key points:
- IFC has the largest market share in the fragmented Canadian P&C insurance industry and has outperformed the industry over 10 years.
- IFC aims to have 2 million customer advocates by 2020 and be one of Canada's most respected and best employer brands. It has met multiple financial targets including 10% annual NOIPS growth.
- IFC recently acquired OneBeacon, expanding its specialty insurance business in both Canada and the US. The acquisition is financially accretive and leverages both companies' expertise.
- IFC maintains a strong financial position with
Intact Financial Corporation is Canada's largest home, auto and business insurer, with a 17% market share in a fragmented industry. It has consistently outperformed the industry over 10 years in terms of premium growth, combined ratio, and return on equity. Intact has several competitive advantages including scale, sophisticated pricing and underwriting, in-house claims expertise, and broker relationships. The presentation outlines Intact's strategy to continue growing organically and through acquisitions to consolidate the Canadian property and casualty insurance market.
This document provides an investor presentation for Intact Financial Corporation, a leading property and casualty insurer in Canada. Some key points:
1) Intact has consistently outperformed the industry in terms of return on equity, combined ratio, premium growth, and market share over the past 10 years.
2) Intact aims to beat industry return on equity by 5 points annually through initiatives like pricing and segmentation, claims management, and capital management.
3) Intact has a strong financial position with excess capital, high credit ratings, and a track record of growth and profitability. Management sees opportunities for further industry consolidation.
Intact Financial Corporation is Canada's largest property and casualty insurer with a market share of approximately 17%. Over the past 10 years, IFC has consistently outperformed the industry in key metrics such as return on equity, premium growth, and combined ratio. IFC attributes its success to scale advantages, sophisticated pricing and underwriting, in-house claims expertise, and strategic capital management. IFC aims to continue growing organically and through acquisitions to capitalize on ongoing consolidation opportunities in the fragmented Canadian P&C insurance market.
This investor presentation provides an overview of Intact Financial Corporation (IFC), Canada's largest provider of property and casualty insurance. Some key points:
- IFC has consistently outperformed the industry on key metrics like return on equity, combined ratio, and premium growth over the past 10 years.
- IFC's strategies for continued outperformance include sophisticated pricing, in-house claims expertise, and leveraging its scale advantage. It aims to beat the industry ROE by 500 bps annually.
- IFC has a strong financial position with over $857 million in excess capital and investment portfolio of high quality fixed income securities.
- The presentation outlines IFC's strategies for organic growth, consolidation
This document provides an investor presentation for Intact Financial Corporation (IFC), Canada's largest property and casualty insurer. Some key points:
- IFC has consistently outperformed the industry on measures like return on equity, combined ratio, and premium growth over the past 10 years.
- IFC aims to continue beating the industry ROE by 500 basis points annually and growing net operating income per share by 10% per year through initiatives like pricing segmentation, claims management improvements, and pursuing growth opportunities.
- IFC has a strong financial position with over $850 million in excess capital and debt below target levels. It maintains high credit ratings from major agencies.
- The Canadian P&C insurance industry
This investor presentation provides an overview of Intact Financial Corporation (IFC), Canada's largest property and casualty insurer. Some key points:
1) IFC has consistently outperformed the industry on measures like return on equity, combined ratio, and premium growth over the past 10 years.
2) IFC aims to continue beating industry ROE by 500 bps annually and growing net operating income per share by 10% per year through initiatives like pricing segmentation, claims management, and acquisitions.
3) IFC has a strong capital position with $904 million in excess capital and a 215% Minimum Capital Test ratio as of Q1 2016. Management plans to continue increasing dividends and share buybacks
This document provides an investor presentation for Intact Financial Corporation, a leading property and casualty insurer in Canada. Some key points:
- Intact has consistently outperformed the P&C industry over the past 10 years in measures like return on equity, combined ratio, and premium growth.
- Intact has a significant scale advantage compared to competitors and employs sophisticated pricing, underwriting, claims management, and distribution strategies.
- Intact's goals are to beat the industry ROE by 5 points annually and achieve 10% net operating income per share growth over time through organic growth, margin improvement, and capital deployment including acquisitions.
Intact Financial Corporation is Canada's largest property and casualty insurer with an estimated 17% market share. The presentation outlines Intact's consistent outperformance versus the industry through scale advantages, underwriting expertise, and acquisition strategy. Intact has achieved returns on equity 5 points higher than the industry average each year and targets net operating income per share growth of 10% annually. The company is well positioned for future growth through firming market conditions, expanding existing platforms, consolidating the Canadian market, and potential international expansion.
Intact Financial Corporation is Canada's largest property and casualty insurer with an estimated 17% market share. The presentation outlines Intact's consistent outperformance versus the industry through scale advantages, underwriting expertise, and acquisition strategy. Intact has achieved returns on equity 5 points higher than the industry average each year and targets net operating income per share growth of 10% annually. The company is well positioned for further growth through firming market conditions, developing existing platforms, Canadian market consolidation, and potential international expansion.
Intact Financial Corporation is Canada's largest property and casualty insurer with an estimated 17% market share. The presentation outlines Intact's consistent outperformance compared to industry averages over 10 years in return on equity, combined ratio, and premium growth. Intact attributes its success to significant scale advantages, sophisticated pricing and underwriting, in-house claims expertise, and a proven acquisition strategy. The presentation discusses Intact's financial strength and avenues for future growth through firming market conditions, developing existing platforms, consolidating the Canadian market, and expanding beyond existing markets.
Intact Financial Corporation is Canada's largest property and casualty insurer with over $7 billion in direct premiums written annually. It has a leading market share position in several Canadian provinces and distinct insurance brands. The presentation outlines Intact's strategy to continue outperforming the Canadian P&C industry through initiatives like pricing segmentation, claims management, and organic growth. Intact also intends to pursue further industry consolidation and expanding its direct business. The company has a strong financial position and track record of acquisitions that has positioned it for continued growth.
This document provides an investor presentation for Intact Financial Corporation, the largest property and casualty insurer in Canada. Some key points:
- Intact has over $7 billion in direct premiums written and is the largest P&C insurer in Canada.
- It has a $13.4 billion investment portfolio and a proven track record of acquiring and consolidating other insurers in Canada.
- Intact aims to outperform the P&C industry by beating its return on equity by 5 points annually through initiatives like claims management, pricing and segmentation, and investments and capital management.
This document is an investor presentation for Intact Financial Corporation, the largest property and casualty insurer in Canada. Some key points:
- Intact has over $7 billion in direct premiums written and is the largest P&C insurer in Canada.
- It has outperformed the P&C industry over the past 10 years in terms of premium growth, return on equity, and combined ratio.
- Intact aims to continue beating the industry ROE by 5 points annually through initiatives like pricing and claims management improvements.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
2. Canada’s leader in auto, home and business insurance
Who we are1 Distinct brands
• Largest P&C insurer in Canada
• 6.5 billion in direct premiums written
• #1 in Ontario, Quebec, Alberta, Nova Scotia
• $11.8 billion cash and invested assets
• Proven industry consolidator
Scale advantage Industry outperformer
2010 Direct premiums written2
($ billions) Top five insurers
$6.5 represent 42.9% 10-year performance – IFC
of the market IFC vs. P&C industry2 outperformance
$3.3
$2.4 $2.4 $2.3 Premium growth 1.8 pts
Combined ratio3 3.8 pts
Intact1 Aviva TD RSA Co-
operators
Market
16.5% 8.4% 6.1% 6.0% 5.9%
Return on equity4 7.7 pts
share
1 Pro forma acquisition of AXA Canada, excluding assets related to the life insurance business
2 Industry data source: MSA Research excluding Lloyd’s, ICBC, SGI, SAF,
MPI and Genworth. All data as at the end of 2010. 2
3 Combined ratio includes the market yield adjustment (MYA)
4 ROE is for Intact’s P&C insurance subsidiaries
3. Consistent industry outperformance
Significant Sophisticated In-house claims Broker Multi-channel Proven
scale pricing and expertise relationships distribution acquisition
advantage underwriting strategy
2010 combined ratios Five-year average loss ratios
Industry Intact
107% 80%
105.0% 75.1%
Cdn. P&C 69.7% 71.0%
industry average 70% 68.6%
102% = 101.0%
60.3%
60%
55.1%
97% 96.3%
50%
94.8%
40%
92%
Top 20*
(average) + AXA
30%
Pro forma Auto Personal Property Commercial P&C
Industry data source: MSA Research excluding Lloyd’s, ICBC, SGI, SAF, MPI and Genworth
Data in both charts is for the year ended December 31, 2010
Includes market yield adjustment (MYA)
* Top 20 excludes Lloyd’s, Genworth, AXA, and IFC
3
4. A strong base from which to build
Enhanced Business Mix Stronger Capacity To Outperform
Pro
Line of Business IFC Combined Ratio 2010 H1 2011
Forma
Personal Auto 50% 46% IFC* 94.8% 94.9%
Personal Property 24% 22% Top 20 Industry* 105.0% 100.4%
Commercial 26% 32% Outperformance 10.2 pts 5.5 pts
Pro
Geography IFC Return on Equity 2010 H1 2011
Forma
Ontario 46% 41% IFC* 14.9% 20.0%
Quebec 25% 30%
Top 20 Industry* 3.2% 6.2%
Alberta 18% 16%
Rest of Canada 11% 13% Outperformance 11.7 pts 13.8 pts
Note: Business mix based on 2010 direct premiums written * AXA Canada included in IFC and excluded from Top 20
4
5. Strong financial position and excess capital
Strong balance sheet $11.8 billion in cash and invested assets
• Strong financial position with $534 million in excess capital;
despite allocating ~$400 million toward the AXA acquisition.
Loans Cash and short term
We ended the quarter with an MCT of 202%.
4% notes, 2%
• Debt to total capital ratio above our target level: Common shares
− We intend to allocate a portion of the $300 million 9%
proceeds from life sale to reduce the term loan
facility used to partially finance the acquisition
− Ratio back in line with our target of 20% once the Preferred shares
transaction closes in early 2012. 12%
• Operating return on equity of 14.0%, while book value per
share increased 13% from a year earlier to $28.97.
High-quality investment portfolio Fixed income
73%
• Approx. 95.6% of bonds are rated A or better
• 84.2% of preferred shares are rated P1 or P2
• $74 million in net investment income includes $2 million
from AXA Canada Note: Invested asset mix is net of hedging positions
• Market-based yield of 3.8%, down 30 basis points from
Q3-2010
All figures as of September 30, 2011 unless otherwise noted
5
6. Declining yields impacting investment income
($M) Annual Investment Data
450 5.5%
Net investment income Expenses Pre-tax yield
400 5.0%
350 4.5%
300 4.0%
250 3.5%
200 3.0%
2005 2006 2007 2008 2009 2010 2011e 2012e
Invested Assets
$7.1 $7.4 $7.3 $6.9 $7.1 $8.0 $9.0 $11.6
(avg, in billions)
• Investment income up on higher assets from acquisition, but…
… a more conservative asset allocation and declining yields are
putting downward pressure on income
• Investment management expenses reduced from 23 bps to 21 bps
6
7. Industry growth outlook
We expect growth in the next 12 months at a pace similar to 2010 and the first half of 2011
Personal auto • Despite ~27% increase in Ontario auto rates since January 2008, the
2010 growth*: industry’s combined ratio at June 2011 was approximately 110%
Industry 4.7% • Should results continue to improve, the pace of future rate increases
IFC 4.8% could potentially diminish
Personal property • Premiums in personal property are increasing to reflect the impact
2010 growth: of water related losses and more frequent and/or severe storms
Industry 8.9% • The increased level of catastrophe losses in the past two quarters is
IFC 7.9% further evidence that pricing will remain firm in the coming period
Commercial P&C • Pricing conditions remain soft for new business
2010 growth: • Over the last 12-18 months, pricing has begun to firm up in
Industry 2.3% segments where we operate
IFC 3.7%
* Growth includes commercial auto
7
8. Ontario auto: reforms & claims initiatives
Components of Our Action Plan Reform Savings Improving
• Increased capacity of Accident Benefit handling team • >50% reduction in assessments and treatment plan
• Strengthening our controls requests since January, 2011
− Tighter acceptance of treatment plans • >40% reduction in invoices since January, 2011
− Centralized payment team • MIG penetration > 55%
• Creation of Special Handling Units and Special • MIG forms increased from 5% in January, 2011 to
Investigations Unit 15% in August
• System improvements
− Better cost controls We expect to reach a total of 12 points of loss ratio
− Increased efficiencies improvement within the next 6 months
IFC Outperformance vs. Industry Outperformance Provides Flexibility
20 pts
Loss Ratio Gap
15 pts
• Loss ratio gap versus the industry at a peak level
even prior to the beneficial inclusion of AXA Canada
10 pts
• Early action on rates (2007) proved the beginning
5 pts
of an outperformance run
0 pts
• Current gap affords us the flexibility to consider
-5 pts actions to improve growth
-10 pts
02
03
04
05
06
07
08
09
00
20
20
20
20
20
20
20
20
21
Source: MSA Research, excluding Lloyd’s, Genworth, ICBC, SGI, SAF and MPI
Note: MIG - Minor Injury Guideline 8
9. Ensuring profitability in personal property
Loss Ratios Impacted by Cats Home Improvement Plan to Date
Composition of Loss Ratios
Reported
• YTD-2011 impacted by double normal Cat activity
Loss Ratio 68.6% 80.2% 75.2% 61.7% 75.4%
• CAY results trending towards 15pts improvement
3.1%
8.7%
8.6%
• Current rate change indication in mid to high single
17.1%
5.9% digit increase including prudent Cat loading that had
CAT
Non-CAT
been reviewed in 2009
65.5%
71.5%
66.6%
58.3%
• Renewals being issued at ~ 9%
55.8%
• Segmentation by kind of loss
• Claims initiatives on-going
2007 2008 2009 2010 YTD-2011 • Product design evolving (e.g. $2k water ded. in ON)
IFC Now Outperforming Industry Still to Come
2 pts
Loss Ratio Gap
1 pts • More rates
0 pts
-1 pts
• More product design (water/hail higher deductibles
-2 pts
in other provinces)
-3 pts • More claims initiatives
-4 pts
• Prevention & education (University of Waterloo,
-5 pts
municipal infrastructure grades, collecting more data
-6 pts
-7 pts
from clients)
2006
2007
2008
2009
2010
Source: MSA Research, excluding Lloyd’s, Genworth, ICBC, SGI, SAF and MPI
9
10. Now the largest player in Commercial P&C
Commercial Lines Value Proposition Added Benefits of Specialty Lines
• Industry leading commercial lines offering Our extensive specialty lines product offering
• Broader new product suite and appetite provides many benefits:
• Maintaining the outer boundary of the current • Diversification of risks
Intact and AXA appetite • Historically a very profitable book of business
• Regional structure will continue to provide local • Bolsters offering for existing brokers and expands
underwriting expertise with faster, more efficient list of potential brokers
service • Impact on mid-market capacity retention and
growth
Top Commercial P&C Insurer Two Impressive Track Records
Direct premiums written 20 pts Commercial P&C 10-year loss ratio outperformance
( millions)
$1,483 AXA Canada
15 pts
$1,278 10-year avg.
= 6.9 pts
$870 10 pts
$759
$674
Intact Insurance
5 pts 10-year avg.
= 7.0 pts
0 pts
Intact Lloyd’s Aviva Chartis Zurich
Market -5 pts
12.9% 11.1% 7.6% 6.6% 5.9% 20 01 200 2 20 03 20 04 200 5 20 06 2 007 200 8 20 09 2 010
share
Note: Commercial P&C for the above chart includes commercial property, liability and surety Source: MSA Research, excluding Lloyd’s, Genworth, ICBC, SGI, SAF and MPI
Source: MSA Research, as at Dec. 31, 2010
10
11. Near-term themes to monitor
Impact on Industry from Low Yields Reinsurance
14%
• Major catastrophes in the world in 2011 have
12%
impacted reinsurer’s capital levels
10%
8%
P&C Industry • The Canadian industry one of the most
profitability
6%
conservative markets in the world in terms of
3-5 year
4%
Government of
earthquake coverage required by regulators
2% Canada bond yield • IFC’s B.C. earthquake exposure increased due to
0%
1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011
the acquisition of AXA Canada
Source: Insurance Bureau of Canada
Ontario Auto Industry Results Industry Capital Levels
$6.0B Excess capital above 200% MCT
105% 30%
100% 25% $5.5B
95% 20% $5.0B
90% 15% $4.5B
85% 10%
$4.0B
80% 5%
$3.5B
75% 0%
2008 2009 2010 H1-2011 $3.0B
2009 2010 H1-2011
Loss ratio Cumulative rate increase
11
12. Four distinct avenues for growth
Firming market conditions (0-24 months) Develop existing platforms (0-3 years)
Personal lines • Continue to expand support to
• Industry premiums remain inadequate in ON auto our broker partners
• Home insurance premiums also on the rise
• Expand and grow belairdirect
Commercial lines and GP Car and Home
• Evidence of price firming in the past year
• Leverage acquired expertise to expand product • Build a broker offer better able
offer and gain share in the mid-market to compete with direct writers
Consolidate Canadian market (0-5 years) Expand beyond existing markets (5+ years)
Capital Principles
• Strong financial position • Financial guideposts: long-term customer growth, IRR>20%
• Stepped approach with limited near-term capital outlay
Strategy • Build growth pipeline with meaningful impact in 5+ years
• Grow areas where IFC has a competitive advantage Strategy
Opportunities • Enter new market in auto insurance by leveraging strengths:
1) pricing, 2) claims and 3) online expertise
• Global capital requirements becoming more stringent
Opportunities
• Industry underwriting results remain challenged • Emerging markets or unsophisticated targets in mature
• Continued difficulties in global capital markets markets
12
13. Conclusion
Disciplined pricing, underwriting, investment and capital management
have positioned us well for the future
• Largest P&C insurance company in Canada
• Consistent track record of industry outperformance
• Strong financial position
• Excellent long-term earnings power
• Organic growth platforms easily expandable
• AXA Canada acquisition should further improve our financial results
13
15. P&C insurance is a $40 billion market in Canada
3% of GDP in Canada Industry DPW by line of business
Home Commercial
• Fragmented market1: insurance, P&C, 26.6%
19.0%
−Top five represent 43%, versus bank/lifeco
markets which are closer to 65-75%
−IFC is largest player with 16.5% market share, Commercial
versus largest bank/lifeco with 22-25% other, 8.4%
market share
−P&C insurance shares the same regulator as
the banks and lifecos Automobile,
46.0%
• Barriers to entry: scale, regulation,
manufacturing capability, market knowledge
• Home and commercial insurance rates
Industry – premiums by province
unregulated; personal auto rates regulated in
Alberta, 16%
some provinces Quebec, 17%
British
• Capital is regulated nationally by OSFI Columbia, 9%
• Brokers continue to own commercial lines and a Eastern
large share of personal lines in Canada; direct-to- Provinces &
consumer channel is growing (distribution = Territories,
7%
brokers 67% and direct 33%)
• 30-year return on equity for the industry is Prairies, 3%
approximately 10% Ontario, 48%
1 Pro forma IFC’s acquisition of AXA Canada
Industry data source: MSA Research excluding Lloyd’s, ICBC, SAF, SGI, MPI and Genworth.
OSFI = Office of the Superintendent of Financial Institutions Canada 15
Data as at the end of 2010.
16. Economic uncertainties will affect industry profitability
• Slow global recovery with significant
downside risks The Canadian P&C industry can no longer
count on high investment income
• Continued volatility in financial,
currency and commodity markets 14%
• Financial systems still somewhat 12%
vulnerable to downside shocks 10%
• Uncertainties will put pressure on 8%
P&C Industry
profitability
financial institutions’ capital 6%
worldwide 3-5 year
Government of
4%
• Interest rates to remain low for the 2%
Canada bond yield
next 18 to 24 months
0%
• A drop of 1% in investment income is 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011
equivalent to a 2 to 3 point increase in Source: Insurance Bureau of Canada
the combined ratio
16
17. P&C industry 10-year performance versus IFC
IFC’s competitive advantages Combined ratio
115%
• Significant scale advantage Industry1
• Sophisticated pricing and underwriting 105% 10-year avg.
= 99.0%
discipline
95%
• In-house claims expertise
10-year avg.
• Broker relationships 85% = 95.3%
• Solid investment returns 75%
• Strong organic growth potential
01
02
03
04
05
06
07
08
09
10
20
20
20
20
20
20
20
20
20
20
Return on equity Direct premiums written growth
40% 240
220 10-year avg.
30% = 8.6%
200
10-year avg. 180 Industry1
20% = 17.6%2 10-year avg.
160
= 6.7%
10% Industry 140
10-year avg.1
120
0% = 9.9%
100
1
2
3
4
5
6
7
8
9
0
0
0
0
0
0
0
0
0
0
1
01
02
03
04
05
06
07
08
09
10
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Year 2000 = base 100
1Industry data source: MSA Research. excluded Lloyd’s, ICBC, SGI, SAF, MPI and Genworth. All data up to the end of 2010.
2ROE is for Intact’s P&C insurance subsidiaries
17
18. Historical financials
IFRS Canadian GAAP
(in $ millions, except as otherwise noted)
2010 2009 2008 2007 2006
Income statement highlights
Direct written premiums $4,498 $4,275 $4,146 $4,109 $3,994
Underwriting income 194 54 117 189 404
Net operating income 402 282 361 457 531
Net operating income per share (in dollars) 3.50 2.35 2.96 3.61 3.97
Balance sheet highlights
Total investments $8,653 $8,057 $6,605 $7,231 $7,353
Debt 496 398 - - -
Total shareholders' equity (excl. AOCI) 2,686 3,047 3,079 3,290 3,421
Performance metrics
Loss ratio 65.4% 70.0% 68.2% 66.2% 59.1%
Expense ratio 30.0% 28.7% 28.9% 29.0% 30.3%
Combined ratio 95.4% 98.7% 97.1% 95.2% 89.4%
Net operating ROE (excl. AOCI) 15.0% 9.2% 11.3% 13.6% 16.8%
Debt / Capital 14.3% 11.8% - - -
Combined ratios by line of business
Personal auto 98.1% 94.9% 95.9% 94.5% 87.3%
Personal property 96.5% 109.0% 113.6% 102.2% 100.0%
Commercial auto 86.0% 79.8% 87.2% 93.7% 86.9%
Commercial P&C 90.7% 104.1% 85.3% 90.1% 85.2%
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19. Strategic capital management
• Strong capital base has allowed us to pursue
our growth objectives while returning capital
to shareholders Quarterly dividend
Capital priorities 8.8%
6.3%
3.2%
• Acquisitions 0.40
14.8% $0.370
$0.340
• Dividends 0.35 8.0%
$0.310 $0.320
0.30 53.8%
• Share buybacks $0.250
$0.270
0.25
0.20
Share buyback history $0.1625
0.15
0.10
• 2011 – Board authorized renewal
0.05
of NCIB for an additional 5%
-
• 2010* – Repurchased 9.7 million 2005 2006 2007 2008 2009 2010 2011
shares for a total of $433 million
• 2008 – Repurchased 4.6 million
shares for a total of $176 million
• 2007 – Completed a $500 million
Substantial Issuer Bid
* Feb. 22, 2010 – Feb. 21, 2011
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20. Cash and invested assets
Asset class
Fixed income Preferred shares
Corporate 37.3% Perpetual and callable floating 58.0%
Federal government and agency 26.3% and reset
Cdn. Provincial and municipal 27.8% Fixed perpetual 24.5%
Supranational and foreign 6.8% Fixed callable 17.5%
ABS/MBS 1.9% TOTAL 100%
Private placements 0.0%
TOTAL 100% Quality:
100% Canadian
Approx. 84.2% rated P1 or P2
Canadian 89%
United States 1%
Int’l (excl. U.S.) 10% Common shares
TOTAL 100%
Quality: 95.6% of bonds rated A or better High-quality, dividend paying Canadian
companies. Objective is to capture non- 100% Canadian
taxable dividend income
As of September 30, 2011
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21. Long-term track record of prudent reserving practices
Rate of claims reserve development
• Quarterly and annual (favourable prior year development as a % of opening reserves)
fluctuations in reserve
9%
development are normal 7.9%
8%
• 2005/2006 reserve development 7%
was unusually high due to the 6%
4.9% 4.8%
favourable effects of certain auto 5%
4.0%
insurance reforms introduced 4%
3.3% 3.2%
2.9%
during that time period 3%
2%
• This reflects our preference to 1%
take a conservative approach to 0%
managing claims reserves 2004 2005 2006 2007 2008 2009 2010
Historical long-term average has
been 3% to 4% per year
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22. Investor Relations contact information
Dennis Westfall
Director, Investor Relations
Phone: 416.341.1464 ext 45122 Cell: 416.797.7828
Email: Dennis.Westfall@intact.net
Email: ir@intact.net
Phone: 416. 941.5336 or 1.866.778.0774 (toll-free within North America)
Fax: 416.941.0006
www.intactfc.com/Investor Relations
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23. Forward-looking statements and disclaimer
Certain of the statements included in this presentation about the Company’s current and future plans, expectations and intentions, results, levels of activity,
performance, goals or achievements or any other future events or developments 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. 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, including, without limitation, the
following factors: the Company’s ability to implement its strategy or operate its business as management currently expects; its ability to accurately assess the risks
associated with the insurance policies that the Company writes; unfavourable capital market developments or other factors which may affect the Company’s investments
and funding obligations under its pension plans; the cyclical nature of the P&C insurance industry; management’s ability to accurately predict future claims frequency;
government regulations designed to protect policyholders and creditors rather than investors; litigation and regulatory actions; periodic negative publicity regarding the
insurance industry; intense competition; the Company’s reliance on brokers and third parties to sell its products to clients; the Company’s ability to successfully pursue
its acquisition strategy; the Company’s ability to execute its business strategy; the terms and conditions of, and regulatory approvals relating to, the sale of AXA Canada’s
life insurance business to SSQ, Life Insurance Company Inc. (the “Sale”); timing for completion of the Sale; various other actions to be taken or requirements to be met in
connection with the Sale and its completion; synergies arising from, and the Company’s integration plans relating to the AXA Canada acquisition; management's
estimates and expectations in relation to resulting accretion, internal rate of return and debt to capital position after closing of the AXA Canada acquisition; various other
actions to be taken or requirements to be met in connection with the AXA Canada acquisition and integrating the Company and AXA Canada; the Company’s participation
in the Facility Association (a mandatory pooling arrangement among all industry participants) and similar mandated risk-sharing pools; terrorist attacks and ensuing
events; the occurrence of catastrophic events; the Company’s ability to maintain its financial strength ratings; the Company’s ability to alleviate risk through reinsurance;
the Company’s ability to successfully manage credit risk (including credit risk related to the financial health of reinsurers); the Company’s reliance on information
technology and telecommunications systems; the Company’s dependence on key employees; general economic, financial and political conditions; the Company’s
dependence on the results of operations of its subsidiaries; the volatility of the stock market and other factors affecting the Company’s share price; and future sales of a
substantial number of its common shares. All of the forward-looking statements included in this presentation are qualified by these cautionary statements and those
made in the “Risk Management” section of our presentation for the year ended December 31, 2010. 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 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.
23
24. Forward-looking statements and disclaimer
All of the forward-looking statements included in this presentation are qualified by these cautionary statements and those made in the “Risk
Management” section of our presentation for the year ended December 31, 2010. 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 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.
Important Notes:
All references to direct premiums written in this document exclude industry pools, unless otherwise noted.
All references to “excess capital” in this document include excess capital in the P&C insurance subsidiaries at 170% minimum capital test (“MCT”)
plus liquid assets in the holding company, unless otherwise noted.
Catastrophe claims are any one claim, or group of claims, equal to or greater than $5.0 million, related to a single event.
All underwriting results and related ratios exclude the Market Yield Adjustment (“MYA”), except if noted otherwise.
Disclaimer
The Company uses both International Financial Reporting Standards (“IFRS”) and certain non-IFRS measures to assess performance. Non-IFRS
measures do not have any standardized meaning prescribed by IFRS and are unlikely to be comparable to any similar measures presented by other
companies. Management of Intact Financial Corporation analyzes performance based on underwriting ratios such as combined, general expenses and
claims ratios as well as other performance measures such as return on equity (“ROE”) and operating return on equity. These measures and other
insurance related terms are defined in the Company’s glossary available on the Intact Financial Corporation web site at www.intactfc.net in the
“Investor Relations” section. Additional information about Intact Financial Corporation, including the Annual Information Form, may be found online on
SEDAR at www.sedar.com.
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