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 (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.
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 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
Ifc investor presentation november 2011VMS Ventures
- 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 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.
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.
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 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
Ifc investor presentation november 2011VMS Ventures
- 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 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.
air products & chemicals 5 December 2007 Citi Basic Materialsfinance26
Paul Huck presented on Air Products' performance and outlook. Some key points:
1) Air Products has achieved four consecutive years of double-digit sales and earnings growth.
2) The company aims to continue delivering double-digit growth through large projects coming online, expansion in new geographies and markets, and cost reduction efforts.
3) Air Products is targeting 10-15% annual EPS growth and achieving returns well above its cost of capital through margin improvement and productivity initiatives.
M/A/R/C's Amy Barrentine-EVP General Manager, Randy Wahl-EVP Advanced Analytics, and Scott Waller-VP Business Development, co-presented at Quirk's event in March 2011.
1) The study found that finance organizations face increased pressure from industry changes to reduce costs, make faster decisions, and provide more transparency. As a result, 60% believe they need major changes.
2) Finance's role is evolving from record-keeper to business partner. Over 70% of CFOs see themselves as advisors or decision-makers on enterprise-wide issues like strategy and risk management.
3) Finance organizations that achieve both high efficiency through standards and provide valuable business insight outperform peers on metrics like revenue growth and return on capital. The greatest rewards come from doing both well.
Questions For Management And Directors, A Roadmap For Expansion And Growthharrylong
Fremont Michigan Insuracorp provides property and casualty insurance in Michigan. While it has a strong balance sheet and growing book value, its personal lines have become unprofitable despite growing premiums. The document raises concerns about this and questions what management is doing to address the issue. It suggests management should take actions like ranking agencies by losses, stopping credit scoring, and expanding operations outside of Michigan to improve profitability.
This presentation provides an operational and financial summary of Cia. Hering for 1Q08. Key highlights include strong performance in the beginning of the year with goals outperformed. Domestic market revenues increased 43% driven by a 54% increase in Hering brand sales. Exports grew 35% with a focus on own brands in Latin America. EBITDA was 41% higher due to sales growth and operating enhancements. The expansion plan continued with new Hering Store openings and the launch of a Hering Store credit card. Capex was invested in new stores, production technology, and IT. The stock performed well and trading activity increased significantly. The business strategy focuses on further expanding the Hering Store chain and increasing cross-
AGF Management Limited is a Canadian investment management company established in 1957 with $31.1 billion in total assets under management as of August 31, 2004. The company has four main business segments: investment management, AGF Trust, fund administration, and Unisen. AGF aims to reinforce investment management excellence, build a client-centric organization focused on multi-channel distribution, pursue strategic acquisitions, and undertake disciplined review of support entities. Recent financial results show revenue up 13.4% and net income up 55.5% year-to-date in 2004.
1. The document discusses Air Products, a $10 billion company with diverse markets and geographies. It is positioned for continued long-term value creation through stability, growth, and improving returns.
2. Air Products has transformed over time, growing sales from $5.7 billion in 2000 to $9.4 billion in 2007 by expanding into new markets like healthcare, electronics, and energy.
3. The company delivers profitable growth through long-term contracts that provide stable cash flows and a strong balance sheet. It also grows through projects and bidding activities, with opportunities in energy.
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.
The document summarizes a presentation given by CSX Corporation at the Dahlman Rose Global Transportation Conference in September 2008. The summary discusses CSX's strong earnings growth and operating margins driven by productivity gains and pricing increases. It also notes that while housing and automotive sectors remain weak, CSX's diverse business portfolio and secular growth trends insulate it from economic downturns. The presentation raises CSX's long-term earnings growth targets based on its higher performance in 2008.
Motilal Oswal Mutual Fund presents m100 (An Open Ended Index Exchange Traded Fund) that tracks the CNX Midcap Index. The NFO opens on 12th January 2011 and closes on 24th January 2011. The document discusses that midcap stocks are well positioned to capture India's growth given India's GDP is expected to grow substantially by 2020. It provides statistics on the CNX Midcap Index such as sector allocation and top 10 constituents. Performance figures show midcap outperforming large caps over long periods while complementing large cap portfolios.
The document summarizes the key findings of the Second Census of the Brazilian Private Equity and Venture Capital Industry conducted in December 2010. Some of the main results presented include:
- As of December 2009, the industry had committed capital of US$36.1 billion invested across 144 PE/VC firms and 502 portfolio companies.
- Between 2005-2009, the industry made 414 new investments and saw 137 total exits, including 37 IPOs.
- The largest sectors by number of portfolio companies were IT/Electronics, Civil Construction/Real Estate, and Energy and Oil.
This document is a presentation from Patrick Kelleher, Chief Financial Officer of Raymond James, given on March 5, 2008. It summarizes Genworth Financial's 2007 financial performance, with operating EPS of $3.07 and operating ROE of 11-14%. It outlines Genworth's strategy of delivering financial security across different life stages. It also provides updates on priority growth opportunities in international markets and fee-based wealth management, as well as the U.S. mortgage insurance business and investment portfolio.
- 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 with over $4 billion in annual direct premiums written. It has a dominant market share in Ontario, Quebec, Alberta and Nova Scotia. Intact has consistently outperformed the Canadian P&C insurance industry in terms of premium growth, combined ratios and returns on equity over the past 10 years. The company has a strong financial position with $8.2 billion in invested assets and excess capital of $766 million. Intact plans to continue growing organically through rate increases and expanding its broker relationships, direct and affinity brands. It also aims to participate in industry consolidation through its $1 billion acquisition capacity.
A mathematical model is defined as:
1) A translation of a physical system into mathematical terms to represent situations involved in a process through mathematical relationships that provide explanations or solutions.
2) A description from mathematics to express phenomena of reality where graphical or analytical solutions are impossible or tedious to generate a valid response.
3) The process of modeling involves identifying the problem cause, affected variables, developing ideas and hypotheses, and creating the model.
Presentation aux investisseurs (anglais seulement) aout 2013Intact
Intact Financial Corporation is Canada's largest property and casualty insurer, with $7 billion in annual direct premiums written. It has consistently outperformed the industry in key metrics like combined ratio, return on equity, and premium growth over the past 10 years. Intact plans to continue growing organically and through acquisitions, leveraging its scale advantages, sophisticated pricing, claims expertise, and relationships. Recent acquisitions of AXA Canada and Jevco have added $2.8 billion in annual premiums and are exceeding expectations.
Presentation aux investisseurs (anglais seulement) mai 2013Intact
Intact Financial Corporation is Canada's largest personal and commercial property and casualty insurer. It has a 17% market share in a still fragmented Canadian P&C insurance industry. Intact has consistently outperformed the industry in terms of premium growth, combined ratio, and return on equity over the past 10 years due to its scale advantages, sophisticated pricing, in-house claims expertise, and acquisition strategy. Intact is well positioned for continued growth organically and through M&A within the Canadian market as well as potential international expansion over the long term.
Intact Financial Corporation is Canada's largest property and casualty insurer, with over $7 billion in annual premiums written. It has leading market shares in several Canadian provinces and outperforms the industry on key metrics like combined ratio, return on equity, and premium growth over both short-term and long-term periods. Intact aims to continue growing organically and through acquisitions while maintaining strong financial performance through initiatives in pricing, claims management, and capital deployment.
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%.
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.
air products & chemicals 5 December 2007 Citi Basic Materialsfinance26
Paul Huck presented on Air Products' performance and outlook. Some key points:
1) Air Products has achieved four consecutive years of double-digit sales and earnings growth.
2) The company aims to continue delivering double-digit growth through large projects coming online, expansion in new geographies and markets, and cost reduction efforts.
3) Air Products is targeting 10-15% annual EPS growth and achieving returns well above its cost of capital through margin improvement and productivity initiatives.
M/A/R/C's Amy Barrentine-EVP General Manager, Randy Wahl-EVP Advanced Analytics, and Scott Waller-VP Business Development, co-presented at Quirk's event in March 2011.
1) The study found that finance organizations face increased pressure from industry changes to reduce costs, make faster decisions, and provide more transparency. As a result, 60% believe they need major changes.
2) Finance's role is evolving from record-keeper to business partner. Over 70% of CFOs see themselves as advisors or decision-makers on enterprise-wide issues like strategy and risk management.
3) Finance organizations that achieve both high efficiency through standards and provide valuable business insight outperform peers on metrics like revenue growth and return on capital. The greatest rewards come from doing both well.
Questions For Management And Directors, A Roadmap For Expansion And Growthharrylong
Fremont Michigan Insuracorp provides property and casualty insurance in Michigan. While it has a strong balance sheet and growing book value, its personal lines have become unprofitable despite growing premiums. The document raises concerns about this and questions what management is doing to address the issue. It suggests management should take actions like ranking agencies by losses, stopping credit scoring, and expanding operations outside of Michigan to improve profitability.
This presentation provides an operational and financial summary of Cia. Hering for 1Q08. Key highlights include strong performance in the beginning of the year with goals outperformed. Domestic market revenues increased 43% driven by a 54% increase in Hering brand sales. Exports grew 35% with a focus on own brands in Latin America. EBITDA was 41% higher due to sales growth and operating enhancements. The expansion plan continued with new Hering Store openings and the launch of a Hering Store credit card. Capex was invested in new stores, production technology, and IT. The stock performed well and trading activity increased significantly. The business strategy focuses on further expanding the Hering Store chain and increasing cross-
AGF Management Limited is a Canadian investment management company established in 1957 with $31.1 billion in total assets under management as of August 31, 2004. The company has four main business segments: investment management, AGF Trust, fund administration, and Unisen. AGF aims to reinforce investment management excellence, build a client-centric organization focused on multi-channel distribution, pursue strategic acquisitions, and undertake disciplined review of support entities. Recent financial results show revenue up 13.4% and net income up 55.5% year-to-date in 2004.
1. The document discusses Air Products, a $10 billion company with diverse markets and geographies. It is positioned for continued long-term value creation through stability, growth, and improving returns.
2. Air Products has transformed over time, growing sales from $5.7 billion in 2000 to $9.4 billion in 2007 by expanding into new markets like healthcare, electronics, and energy.
3. The company delivers profitable growth through long-term contracts that provide stable cash flows and a strong balance sheet. It also grows through projects and bidding activities, with opportunities in energy.
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.
The document summarizes a presentation given by CSX Corporation at the Dahlman Rose Global Transportation Conference in September 2008. The summary discusses CSX's strong earnings growth and operating margins driven by productivity gains and pricing increases. It also notes that while housing and automotive sectors remain weak, CSX's diverse business portfolio and secular growth trends insulate it from economic downturns. The presentation raises CSX's long-term earnings growth targets based on its higher performance in 2008.
Motilal Oswal Mutual Fund presents m100 (An Open Ended Index Exchange Traded Fund) that tracks the CNX Midcap Index. The NFO opens on 12th January 2011 and closes on 24th January 2011. The document discusses that midcap stocks are well positioned to capture India's growth given India's GDP is expected to grow substantially by 2020. It provides statistics on the CNX Midcap Index such as sector allocation and top 10 constituents. Performance figures show midcap outperforming large caps over long periods while complementing large cap portfolios.
The document summarizes the key findings of the Second Census of the Brazilian Private Equity and Venture Capital Industry conducted in December 2010. Some of the main results presented include:
- As of December 2009, the industry had committed capital of US$36.1 billion invested across 144 PE/VC firms and 502 portfolio companies.
- Between 2005-2009, the industry made 414 new investments and saw 137 total exits, including 37 IPOs.
- The largest sectors by number of portfolio companies were IT/Electronics, Civil Construction/Real Estate, and Energy and Oil.
This document is a presentation from Patrick Kelleher, Chief Financial Officer of Raymond James, given on March 5, 2008. It summarizes Genworth Financial's 2007 financial performance, with operating EPS of $3.07 and operating ROE of 11-14%. It outlines Genworth's strategy of delivering financial security across different life stages. It also provides updates on priority growth opportunities in international markets and fee-based wealth management, as well as the U.S. mortgage insurance business and investment portfolio.
- 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 with over $4 billion in annual direct premiums written. It has a dominant market share in Ontario, Quebec, Alberta and Nova Scotia. Intact has consistently outperformed the Canadian P&C insurance industry in terms of premium growth, combined ratios and returns on equity over the past 10 years. The company has a strong financial position with $8.2 billion in invested assets and excess capital of $766 million. Intact plans to continue growing organically through rate increases and expanding its broker relationships, direct and affinity brands. It also aims to participate in industry consolidation through its $1 billion acquisition capacity.
A mathematical model is defined as:
1) A translation of a physical system into mathematical terms to represent situations involved in a process through mathematical relationships that provide explanations or solutions.
2) A description from mathematics to express phenomena of reality where graphical or analytical solutions are impossible or tedious to generate a valid response.
3) The process of modeling involves identifying the problem cause, affected variables, developing ideas and hypotheses, and creating the model.
Presentation aux investisseurs (anglais seulement) aout 2013Intact
Intact Financial Corporation is Canada's largest property and casualty insurer, with $7 billion in annual direct premiums written. It has consistently outperformed the industry in key metrics like combined ratio, return on equity, and premium growth over the past 10 years. Intact plans to continue growing organically and through acquisitions, leveraging its scale advantages, sophisticated pricing, claims expertise, and relationships. Recent acquisitions of AXA Canada and Jevco have added $2.8 billion in annual premiums and are exceeding expectations.
Presentation aux investisseurs (anglais seulement) mai 2013Intact
Intact Financial Corporation is Canada's largest personal and commercial property and casualty insurer. It has a 17% market share in a still fragmented Canadian P&C insurance industry. Intact has consistently outperformed the industry in terms of premium growth, combined ratio, and return on equity over the past 10 years due to its scale advantages, sophisticated pricing, in-house claims expertise, and acquisition strategy. Intact is well positioned for continued growth organically and through M&A within the Canadian market as well as potential international expansion over the long term.
Intact Financial Corporation is Canada's largest property and casualty insurer, with over $7 billion in annual premiums written. It has leading market shares in several Canadian provinces and outperforms the industry on key metrics like combined ratio, return on equity, and premium growth over both short-term and long-term periods. Intact aims to continue growing organically and through acquisitions while maintaining strong financial performance through initiatives in pricing, claims management, and capital deployment.
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%.
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 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 property and casualty insurer with over $6.5 billion in direct premiums written. It has leading market shares in Ontario, Quebec, Alberta, and Nova Scotia. Intact has consistently outperformed the industry over the past 10 years on key metrics like premium growth, combined ratio, and return on equity. The presentation outlines Intact's scale advantages, diverse brand portfolio, and growth strategies in personal, commercial, and specialty lines of insurance to build on its leading market position in Canada.
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 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.
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.
1) The document discusses a presentation given at Citi's 23rd Annual Transportation Conference in November 2008.
2) It provides an overview of CSX's current financial performance and outlook, noting that while volume has declined, pricing momentum and productivity initiatives have helped sustain earnings growth.
3) It acknowledges economic headwinds but expresses confidence that CSX's diverse business portfolio and focus on operational excellence will allow it to continue generating strong free cash flow through the downturn.
1) The document discusses CSX Corporation's presentation at the Citi 23rd Annual Transportation Conference in November 2008.
2) It notes that while CSX's financial momentum remains strong, the overall economic environment is weakening, particularly in housing, automotive, and industrial sectors.
3) However, CSX believes the fundamentals of its business strategy ("Rail Renaissance") remain intact and it can maintain its focus on shareholder value through balanced capital deployment and priorities like productivity, growth, and price increases above inflation long-term.
1. Demographic changes, especially the aging of America and growth of ethnic markets, were seen as the most significant industry trends according to survey respondents.
2. Work site and bank sales channels were also viewed as opportunities for growth.
3. Translating strategy into effective expense management and technology use remains a challenge for some companies, despite most having clear strategic visions.
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.
capital onePrinter Friendly Version of the Conference Call Presentationfinance13
- Fourth quarter 2008 results showed a loss due to higher provision expense and a goodwill write-down. The losses were driven by deterioration in credit performance as economic conditions worsened.
- Credit losses and delinquency rates increased across all lending segments as unemployment rose. The allowance for loan losses was increased substantially.
- Deposits grew significantly while margins declined due to credit costs and mix shift to lower-yielding assets. Expenses declined due to cost management efforts.
- An impairment charge was taken for goodwill in the Auto Finance segment. The balance sheet and liquidity remain strong despite the difficult environment.
This document summarizes CSX Corporation's presentation at the Citigroup Transportation Conference in November 2007. The presentation outlines CSX's positive fourth quarter revenue outlook, strong financial results, and strategies to drive earnings growth. CSX aims to achieve 10-12% annual operating income growth and a mid-low 70s operating ratio by 2010 through productivity improvements, value pricing, and total service integration.
1) CSX reported positive fourth quarter revenue outlooks for several industries including agricultural products, chemicals, coal, and metals, while noting automotive and food & consumer as neutral or unfavorable.
2) CSX has delivered strong financial results in recent years and is targeting 10-12% annual operating income growth and 15-17% annual earnings per share growth through 2010.
3) Key strategies like restructuring, productivity initiatives, and value pricing have driven margins higher, with the operating ratio goal of the mid-low 70s by 2010.
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.
2. Forward-looking statements
Certain of the statements in this document 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” or “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; 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; the
company’s ability to successfully pursue its acquisition strategy; its ability to execute its business strategy; the company’s participation in the Facility
Association (a mandatory pooling arrangement among all industry participants); 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 document are qualified by these cautionary statements. These
factors are not intended to represent a complete list of the factors that could affect the company; however, these factors should be considered carefully, and
readers should not place undue reliance 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 (“DPW”) 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 MYA, except if noted otherwise.
2
3. Canada’s leader in auto, home and business insurance
Who we are Distinct brands
• Dominant P&C insurer in Canada
• Over $4 billion in direct premiums written
• #1 in Ontario, Québec, Alberta, Nova Scotia
• Substantial size and scale advantage
• 11 successful acquisitions since 1988
• $8.2 billion cash and invested assets
Scale advantage Industry outperformer
2009 Direct premiums written1
($ billions) Top five insurers
$4.2 represent 36% 10-year performance – IFC
$3.4 of the market IFC vs. P&C Industry1 outperformance
$2.2 $2.1
$1.9
Premium growth 1.7 pts
Combined ratio2 3.8 pts
Intact Aviva Co-operators TD RSA
Canada General Meloche
Market
11.0% 8.8% 5.8% 5.5% 4.9%
Return on equity3 7.5 pts
share
1 Industry data source: MSA Research excluding Lloyd’s, ICBC, SGI, SAF, MPI and Genworth
2 Combined ratio includes the market yield adjustment (MYA)
3 ROE is for Intact’s P&C insurance subsidiaries 3
4. Consistent industry outperformance
Significant Sophisticated In-house claims Broker Multi-channel Proven
scale pricing and expertise relationships distribution acquisition
advantage underwriting track record
2009 combined ratios Five-year average loss ratios
Industry Intact
106% 75%
104.8% 71.5% 71.3% 72.5%
Cdn. P&C
70%
104% industry average 65.1%
=101.7% 65% 61.6%
102% 60%
54.8%
99.7% 55%
100%
50%
98% 45%
40%
96%
35%
Top 10
(average) 30%
Auto Personal Property Commercial P&C
Source: MSA Research 2009
Data in both charts are for the year ended December 31, 2009
Industry results exclude Lloyd’s, ICBC, SAF, SGI, MPI, Genworth and Mutuals in Quebec
Includes market yield adjustment (MYA)
4
5. We continued to outperform the industry in H1-2010
Operating highlights: Comparison with Canadian P&C
2010 year-to-date industry1 benchmark
• Net operating income of $231 million 105% Intact Top 20
or 42.7% higher than last year due to 102%
99.7%
improved underwriting performance 99%
96% 94.8%
• Solid overall combined ratio of 93.5% 93%
• Growth of 5.3% based on 90%
Combined ratio (including MYA)
contributions from all lines of 20%
16.3%
business 15%
• Operating return on equity of nearly 10%
9.6%
12% for the last 12 months 5%
• Year-to-date 2010 annualized 0%
Return on equity
operating return on equity of 15.4%
6%
5.0%
5%
4.5%
4%
1. Industry data source: MSA Research excluding Lloyd’s and Genworth
* Difference versus 5.3% due to exclusion of industry pools 3%
Direct premiums written growth*
5
6. Q2-2010 Financial highlights
(in $ millions, except as otherwise noted)
Q2-2010 Q2-2009 Change YTD-2010 YTD-2009 Change
Direct premiums written
(excl. pools) $1,317.8 $1,250.6 5.4% $2,232.1 $2,119.4 5.3%
Net underwriting income $66.3 $43.2 53.5% $135.3 $51.1 164.8%
Combined ratio 93.7% 95.7% (2.0) pts 93.5% 97.4% (3.9) pts
Net operating income $0.77 33.8% $1.35 45.9%
per share (dollars) $1.03 $1.97
Earnings per share $0.62 67.7% $0.32 540.6%
(dollars) $1.04 $2.05
Trailing 12-month
operating ROE 11.7% 10.9% 0.8 pts
• Underwriting results driven by improvements in personal property and commercial P&C
• Solid underwriting performance, coupled with healthy investment income, resulted in
12-month operating ROE of 11.7%, despite strong storm activity in the past 12 months
6
7. Strong financial position and excess capital
Strong balance sheet $8.2 billion in cash and invested assets
• Excess capital position of $766 million, based on 170% Loans Cash and short
4.1% term notes 3.9%
MCT
• As at June 30, 2010, the debt to total capital ratio was
14.6%. Based on a debt to total capital ratio of 20%, Common shares 10.7%
approximately $227 million of additional debt capacity
remains Fixed income
• Board authorized up to 10% of total shares NCIB Preferred shares
62.7%
(56.5% complete as of August 31, 2010) 18.6%
• Solid ratings from A.M. Best, Moody’s and DBRS
• Adequate claims reserves evidenced by consistent
Invested asset mix is net of
favourable development hedging positions
Acquisition capacity ($ millions) High-quality investment portfolio
Excess capital at June 30, 20101 $766 • 98.3% of bonds are rated A or better
• 77.9% of preferred shares are rated ‘P1’ or ‘P2’
Remaining debt capacity2 $227 • Minimal U.S. exposure
• No leveraged investments
(without
Total acquisition capacity issuing equity)
Approx. $1.0 b
All figures as at June 30, 2010 unless otherwise noted
1 Excess capital over MCT of 170%
2 At 20% debt-to-total capital. Remaining debt capacity at June 30, 2010
7
8. 12-month outlook:
Industry pricing environment firming up in Canada
• Premiums in personal lines increasing due to cost inflation
Recent escalation in the costs of BI and AB claims should subside as a
Personal lines result of the September Ontario auto reforms; however, we expect
further rate increases as industry premiums remain inadequate
Home insurance premiums continue to increase reflecting the impact
of more frequent and/or severe storms
• Pricing conditions remain soft; signs in the past nine months that pricing has
Commercial lines begun to firm up in segments where we operate. We do not expect
meaningful acceleration in the near term.
• Capital markets remain volatile, as economic data (particularly outside of
Canada) raise questions about the sustainability of the global recovery
• Low investment yields could influence higher premiums across the industry
Capital • Debt and equity capital markets are currently open allowing companies to
raise capital at reasonable rates
• Global capital requirements are becoming more stringent, whereas changes
in requirements for Canadian P&C are likely to remain neutral overall
Personal lines growth picking up speed
Organic growth potential in commercial lines as pricing hardens
and industry capacity shrinks
Strong capital base to participate in industry consolidation
8
9. Ontario auto reforms are now in place
Context Key features
• Accident benefits and tort-related bodily injury cost increases • Capping medical/rehabilitation and assessment/
(AB inflation: 19% in last four years) have resulted in the examination expenses for minor injuries to $3,500.
industry raising rates by 20% since January 2008.
• Providing standard medical and rehabilitation coverage for
• We estimate that the combined ratio of the industry exceeds non-catastrophic claims of $50,000, with optional coverage
110% and that premiums remain inadequate. of $100,000 or $1,100,000.
• Ontario drivers pay 5% of disposable income for auto • Offering standard attendant care coverage for non-
insurance compared to 3% in other provinces. catastrophic claims of $36,000, with optional coverage of
• In March 2010, new regulations providing choice to $72,000 or $1,072,000.
consumers and controlling costs were approved and became • Supplying optional caregiver, housekeeping and home
effective September 1, 2010.
maintenance benefits for non-catastrophic claimants.
• Capping each assessment to $2,000 – this applies for all
assessments.
Implementation • Eliminating rebuttal examinations.
• FSCO estimates claims cost reduction of 6% upon
implementation and reduced inflation going forward.
• Coverage reforms will kick-in on policies that will renew only
Risks
after Sept. 1, 2010.
• Political in nature, as many customers will receive renewals
• Procedural reforms have impacted claims since Sept. 1, 2010.
for less coverage but with increased rates.
• Accidents reported after Aug. 31, 2010 are subject to reforms.
9
10. Four distinct avenues for growth
Benefit from firming market conditions Develop existing platforms
Personal lines • Offer Intact Insurance solutions
• Ontario auto rate increases accelerating on the web
• Home insurance premiums also on the rise
• Expand and grow belairdirect
Commercial lines and Grey Power
• Evidence of price hardening in Ontario
• Opportunity to gain share in middle market • Transform BrokerLink by
leveraging scale
Consolidate Canadian P&C market Expand beyond existing markets
Capital Principles
• Approx. $1.0 billion of total acquisition capacity • 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:
• Global capital requirements becoming more stringent (1) pricing, (2) claims, (3) online expertise
• Industry underwriting results remain challenged Opportunities
• Continued difficulties in global capital markets • Emerging markets or unsophisticated mature markets
10
11. Strong organic growth potential through multi-channel
distribution
#1 Broker insurance company in Canada Targeting growing 50+ population
• Network of more than 1,800 brokers in In 10 yrs,
Canada 25% of the
• Brokers in Canada own the commercial Canadian
market and maintain large share of population
personal lines • Operating in ON and AB will be
• Many customers prefer the personalized 50 years+
• Double-digit growth in
service and choice offered by a broker or 2009
agent • Web and call centres
Growth opportunity: web enable Intact Insurance solutions Growth opportunity: expand market share
1/3 Canadians to buy insurance online1 Leveraging scale in distribution
• #1 brand awareness in ON • Proprietary brokers with
and PQ $400 million in direct
premiums written and
• Growing at 10%+ per year approximately 174,000
• Operating in ON and PQ customers
• Leveraging explosive • More than 45 offices in ON
growth of the internet 1 World Insurance Report, Capgemini. 1 in 10 and AB
customers say they use the internet to buy
insurance, 1 in 3 wants to use it to buy
insurance within 3 years
Growth opportunity: geographic expansion potential 11 Growth opportunity: leverage scale in sales, marketing and technology
12. Recent accolades
Intact Insurance
Highest in Customer Satisfaction among Québec
Automotive Insurance Providers1
Grey Power
Highest in Customer Satisfaction among Private
Full-Coverage Automotive Insurance Providers1
Intact Financial Corporation
Insurance Company of the Year 2010, Canada2
1. J.D. Power and Associates 2010 Canadian Auto Insurance Customer Satisfaction StudySM
2. World Finance Insurance Awards 2010, World Finance magazine
12
13. Conclusion
Disciplined pricing, underwriting, investment and capital
management have positioned us well for the future
• Largest P&C insurance company with substantial scale advantage in the market
• Strong financial position
• Excellent long-term earnings power
• Organic growth platforms easily expandable
• M&A environment more conducive to consolidation
• Well-positioned as industry pricing conditions continue to improve
13
15. P&C insurance is a $39 billion market in Canada
3% of GDP in Canada Industry DPW by line of business
• Fragmented market, top five less than 36%, versus bank/lifeco Home Commercial
markets which are closer to oligopoly insurance, P&C, 26.9%
18.4%
• Brokers continue to own commercial lines and large share of personal
lines in Canada; direct-to-consumer channel growing
• Barriers to entry – scale, regulation, manufacturing capability,
market knowledge Commercial
other, 8.4%
• Home/business insurance rates unregulated; personal auto rates
regulated in some provinces
• Capital is regulated nationally by OSFI
• 30-year ROE for the industry is approximately 10% Automobile,
46.3%
Brokers dominate; direct growing1 Industry - Premiums by province
Direct, 20% Alberta, 17%
Quebec, 17%
British
Columbia, 9%
Eastern
Provinces &
Territories,
7%
Agent, 13%
Prairies, 3%
Independent
broker, 67% Ontario, 47%
OSFI = Office of the Superintendent of Financial Institutions
1 Industry data source: MSA data excluding Lloyd’s, ICBC, SAF, SGI, MPIC, Genworth,
Promutual Re and Mutuals in Quebec. All data as at the end of 2009. 15
16. P&C industry 10-year performance versus IFC
IFC competitive advantages Combined ratio
• Significant scale advantage 120% Canadian P&C
115% industry1
• Sophisticated pricing and underwriting 110%
10-year avg.
• In-house claims expertise = 99.8%
105%
100%
• Multi-channel distribution 95%
• Broker relationships 90%
10-year avg.
= 96.0%
• Investment expertise 85%
80%
• Management continuity 75%
00
01
02
03
04
05
06
07
08
09
20
20
20
20
20
20
20
20
20
20
Return on equity Direct written premium growth
40%
250%
10-year CAGR
30% 200% = 8.5%
10-year avg.
150% Industry1
20% = 17.4%2
10-year CAGR
100% = 6.8%
Industry
10%
10-year avg.1 50%
= 9.9%
0% 0%
99
00
01
02
03
04
05
06
07
08
09
00
01
02
03
04
05
06
07
08
09
19
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Data in all charts as at December 31, 2009
OSFI = Office of the Superintendent of Financial Institutions
1Industry data source: MSA Research. excluded Lloyd’s, ICBC, SGI, SAF, MPI
2ROE is for Intact’s P&C insurance subsidiaries
16
17. Further consolidation in Canadian P&C market likely
Acquisition strategy Top 20 P&C insurers = 82% of market
• Targeting large-scale acquisitions of $500 million or Canadian
private, 10%
more (direct premiums written) IFC, 11%
• Pursuing acquisitions in lines of business where we Non-top 20, 18%
Canadian
have expertise mutuals, 11%
• Acquisition target IRR of 15%
• Targets:
− Bring loss ratio of acquired book of business to our Bank-owned, 8%
average loss ratio within 18-24 months
− Bring expense ratio to 2 pts below IFC ratio Canadian public
Foreign-owned (excl. IFC), 7%
Approximate public, 35%
Size of
Acquisition
(1) Source: MSA Research; excluding Lloyd’s and Genworth (based
(DPW)
($ millions)
on 2009 DWP)
Acquisition Year of Acquisition
Allianz Canada (Personal and Small to
Medium Commercial Lines)
Zurich (Personal and Small Commercial
2004 600
M&A environment
Lines) 2001 510
Pafco (Niche Products) 1999 40
Environment more conducive to acquisitions now
Guardian 1998 630
Canada Surety Personal Lines (Selected than in recent years:
Provinces) 1997 30
Wellington 1995 370
St. Maurice 1994 30
• Industry ROEs, although improved from trough
Constitution 1992 30
levels of mid-2009, are well below prior peak
Metropolitan General 1991 10 • Foreign parent companies are generally in less
Commerce Group/belair 1989 290 favourable capital position
Western Union 1988 60
17
18. Good progress to date made on value creation
opportunity in home insurance
Industry loss ratio advantage
(percentage points) Opportunity to create loss ratio advantage
similar to other business lines
Favourable gap
(five-year average) • Rate increases
• Segmentation
Automobile * 6.4 • Insurance-to-Value
Personal property -1.2 • Management of water damage
Commercial P&C 6.8 • Limit exposure to sewer back-up
* Includes commercial auto • Claims review
• Customer education and incentives on loss control
and prevention
Target of 10-15 points • Double-digit premium increases
by early 2011
through higher rates and + • Lower indemnity costs by 5%
insured amounts
• Roughly 12 points benefit to the
Progress-to-date combined ratio as at Q2-2010
18
19. The July 12th Alberta hailstorm presented another
opportunity to demonstrate our core values
Catastrophes in context
• Helped over 9,000 of our customers
get back on track • As a P&C insurer, catastrophes are a normal part
of our business
• Increased capacity of our call centres • Historically, catastrophe losses have
represented approximately 2 percentage points
• Secured facilities for drive-in appraisal of our combined ratio on an annual basis
and paintless repair centres • The 2008-2009 period experienced both a
higher frequency and a higher severity of
• Mobilized appraisers and adjusters catastrophic events
from across the country • IFC’s product pricing attempts to reflect this
higher recent level of activity
• Catastrophic events create quarterly earnings’
volatility as their timing is unpredictable
Total impact on Q3-2010 financials
• ‘Normal’ quarterly run-rate is ~ $20 million:
stated to be up to $50 million of claims
− Catastrophe losses in Q1-2010 = $0
after reinsurance but before tax.
− Catastrophe losses in Q2-2010 = $19.2 million
19
20. Historical financials
Income statement highlights 2009 2008 2007 2006 2005
Direct written premiums (excluding pools) $ 4,275 $ 4,146 $ 4,109 $ 3,994 $ 3,906
Underwriting income (excluding MYA*) 54 117 189 404 538
Net operating Income (excluding MYA*) 282 361 457 531 612
Net operating EPS (excluding MYA*) 2.35 2.96 3.61 3.97 4.58
Balance sheet highlights
Total invested assets $ 7,997 $ 6,094 $ 7,223 $ 7,227 $ 6,707
Debt 400 0 0 0 127
Total shareholders' equity (ex-AOCI) 3,047 3,079 3,290 3,421 2,893
Performance metrics
Loss ratio (excluding MYA*) 70.0 % 68.2 % 66.2 % 59.1 % 56.3 %
Expense ratio 28.7 % 28.9 % 29.0% 30.3% 29.7%
Combined ratio (excluding MYA*) 98.7% 97.1% 95.2% 89.4% 86.0%
Net operating ROE (excl. AOCI) 9.2% 11.3% 13.6% 16.8% 24.7%
Debt / Capital 11.8% 0.0% 0.0% 0.0% 4.2%
Combined ratios by line of business (excl. MYA)
Personal auto 94.9% 95.9% 94.5% 87.3% 78.8%
Personal property 109.0% 113.6% 102.2% 100.0% 104.0%
Commercial auto 79.8% 87.2% 93.7% 86.9% 87.0%
Commercial P&C 104.1% 85.3% 90.1% 85.2% 86.4%
* The market yield adjustment (MYA) reflects the impact of changes in the discount rate applied to the company's claims liabilities, as determined by the
market-based yield of the underlying assets.
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21. Strategic capital management
• Strong capital base has allowed us to pursue
our growth objectives while returning capital
to shareholders
Quarterly dividend
Capital priorities 6.3%
3.2%
• Acquisitions 0.4 14.8%
0.4 8.0% $0.340
• Dividends $0.310 $0.320
0.3 53.8% $0.270
• Share buybacks $0.250
0.3
0.2
$0.1625
Share buyback history 0.2
0.1
• 2010 – Board authorized up to 0.1
10% of total shares NCIB (56.5% -
2005 2006 2007 2008 2009 2010
complete as of August 31, 2010)
• 2008 – Repurchased 4.6 million
shares for a total of $176 million
• 2007 – $500 million Substantial
Issuer Bid
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22. Cash and invested assets
Asset class
Fixed income Preferred shares
Federal government and agency 33.7% Fixed perpetual 47%
Corporate 29.4% Perpetual and callable floating
Cdn. Provincial and municipal 26.1% and reset 31%
Supranational and foreign 8.3% Fixed callable 22%
ABS/MBS 2.4% TOTAL 100%
Private placements 0.1%
TOTAL 100% Quality: 100% Canadian
Approx. 77.9% rated P1 or P2
Canadian 88%
United States 1%
Int’l (excl. U.S.) 11% Common shares
TOTAL 100%
Quality: 98.3% of bonds rated A or better High-quality, dividend paying Canadian 100% Canadian
companies. Objective is to capture non-
taxable dividend income
As of June 30, 2010
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23. 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%
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
Historical long-term average has
been 3% to 4% per year
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24. Experienced and united leadership team
Years In Years With
Industry IFC
Brindamour, Charles President & CEO 18 18
Beaulieu, Martin SVP, Personal Lines 22 22
Black, Susan SVP, Chief HR Officer 3 3
Blair, Alan SVP, Atlantic Canada 26 15
Coull-Cicchini, Debbie SVP, Ontario 6 6
Désilets, Claude Chief Risk Officer 29 21
Gagnon, Louis President, Intact Insurance 18 4
Garneau, Denis SVP, Quebec 22 8
Guénette, Françoise SVP, Corporate & Legal Services 22 13
Guertin, Denis President, Direct to Consumers Distribution 25 25
Hindle, Byron SVP, Commercial Lines 32 11
Iles, Derek SVP, Western Canada 38 19
Lincoln, David SVP, Corporate Audit Services (Canada) 32 13
Ott, Jack SVP, Chief Information Officer 29 14
Pontbriand, Marc Executive Vice President 12 12
Provost, Marc SVP & Managing Director IIM and Chief Investment Officer 27 13
Tullis, Mark Chief Financial Officer 32 11
Weightman, Peter President, Canada Brokerlink 24 24
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25. 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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