Toronto, Ontario — Intact Financial Corporation, one of the largest auto insurance providers in Canada announced today that, together with Tryg A/S, it has completed the acquisition of RSA Insurance Group plc.
“Bringing together Intact and RSA will expand our leadership and accelerate our strategy as we continue to focus on outperformance across our business,” said Charles Brindamour, Chief Executive Officer, Intact Financial Corporation. “Our teams have worked hard and diligently since we announced the deal to plan the integration and transition process, and we are now ready to combine our businesses and start delivering on our financial objectives. We are delighted to welcome RSA employees into the Intact family. Together, we will continue to focus on delivering second-to-none customer experiences and creating significant value for our shareholders.”
Intact will retain RSA’s Canadian, U.K. and International entities, Tryg will retain RSA’s Swedish and Norwegian businesses, and Intact and Tryg co-own RSA’s Danish business.
The company says the acquisition will increase its premiums by approximately 70 percent and enable further investment in the company’s core capabilities of data, risk selection, claims and supply chain management to sustain and drive increased outperformance across the markets in which it operates.
“With the Acquisition, Intact is taking a significant step to accelerate its strategy and drive significant value creation,” said the company in a release.
For more information on the acquisition, click here.
