Intact Financial Corporation Press Releases

Intact Financial Corporation receives TSX approval for normal course issuer bid

Wed, 08 May 2013 17:00:00 -0400

TORONTO, May 8, 2013 /CNW/ - Intact Financial Corporation (TSX: IFC ) announced today that a normal course issuer bid ("NCIB") authorized by its Board of Directors to purchase for cancellation during the next 12 months up to 6,666,683 common shares, representing approximately 5% of its issued and outstanding common shares, has been approved by the Toronto Stock Exchange ("TSX").

At the close of business on May 1, 2013, there were 133,333,665 shares issued and outstanding. The actual number of common shares which will be purchased for cancellation and the timing of any such purchases will be determined by the company. The Company believes that the NCIB is a flexible way of distributing a portion of its excess capital to shareholders who choose to participate in the program.

Purchases under the NCIB will be made by means of open market transactions through the facilities of the TSX as well as through other designated exchanges and published markets in Canada. The exchange's rules permit Intact to purchase daily a maximum of 65,829 common shares through TSX facilities, subject to any block purchases made in accordance with TSX rules, which is 25% of the average daily trading volume of 263,316 common shares for the six months prior to May 1, 2013.

Intact relies on an automatic securities purchase plan during the NCIB. The automatic securities purchase plan allows for purchases by Intact during certain pre-determined black-out periods, subject to certain parameters. Outside of these pre-determined black-out periods, shares will be purchased in accordance with management's discretion. Purchases for cancellation may also be made through such other means as the TSX or a securities regulatory authority may permit, including by way of pre-arranged crosses or by way of private agreements outside the facilities of the TSX pursuant to exemption orders. The price to be paid by Intact for any shares will be the market price at the time of acquisition or such other price as the TSX and/or a securities regulatory authority may permit. Purchases for cancellation made by way of private agreements under an issuer bid exemption order issued by a securities regulatory authority will be at a discount to the prevailing market price as provided in the exemption order.

Purchases of common shares may commence on or about May 13, 2013 and will expire on the earlier of May 12, 2014, or the date on which the company has either acquired the maximum number of common shares allowable or otherwise decided not to make any further repurchases.

About Intact Financial Corporation
Intact Financial Corporation (www.intactfc.com) is the largest provider of property and casualty insurance in Canada. Intact offers home, auto and business insurance through Intact Insurance, belairdirect, Grey Power, BrokerLink and Jevco.

Forward Looking Statements
This document may contain forward looking statements that involve risks and uncertainties. The company's actual results could differ materially from these forward looking statements as a result of various factors, including those discussed in the company's most recently filed Annual Information Form and annual Management's Discussion & Analysis. Please read the cautionary note at the end of the MD&A.

Media Inquiries:
Gilles Gratton
Vice President, Corporate Communications
1 (416) 217-7206
gilles.gratton@intact.net

Investor Inquiries:
Dennis Westfall
Vice President, Investor Relations
1 (416) 341-1464 ext. 45122
dennis.westfall@intact.net

Intact Financial Corporation announces election of Directors

Wed, 08 May 2013 16:13:00 -0400

TORONTO, May 8, 2013 /CNW/ - Intact Financial Corporation (TSX : IFC) announced that the nominees listed in its management proxy circular dated March 28, 2013 were elected as directors of Intact Financial Corporation. The detailed results of the vote for the election of directors held at its Annual Meeting of Shareholders earlier today in Toronto are set out below.

Nominee	Votes For	% Votes For	Votes Withheld	% Votes Withheld
Charles Brindamour	109,626,733	99.77%	253,299	0.23%
Yves Brouillette	101,378,276	92.26%	8,501,756	7.74%
Robert W. Crispin	109,607,396	99.75%	272,636	0.25%
Janet De Silva	109,793,189	99.92%	86,843	0.08%
Claude Dussault	103,452,496	94.15%	6,427,536	5.85%
Eileen Mercier	109,778,970	99.91%	101,062	0.09%
Timothy H. Penner	109,537,607	99.69%	342,425	0.31%
Louise Roy	109,521,291	99.67%	358,741	0.33%
Frederick Singer	109,792,326	99.92%	87,706	0.08%
Stephen G. Snyder	109,535,212	99.69%	344,820	0.31%
Carol Stephenson	109,519,922	99.67%	360,110	0.33%

Media Inquiries:
Gilles Gratton
Vice President, Corporate Communications
1 (416) 217-7206
gilles.gratton@intact.net

Investor Inquiries:
Dennis Westfall
Vice President, Investor Relations
1 (416) 341-1464 ext. 45122
dennis.westfall@intact.net

Intact Financial Corporation Reports First Quarter Results

Wed, 08 May 2013 06:55:00 -0400

Net operating income per share of $1.27, leading to an operating ROE of 16.0%
Combined ratio of 95.1% was above last year's exceptional 92.3%, largely due to more seasonal weather conditions
Premium growth of 9%, bolstered by the addition of Jevco's product suite
Book value per share increased 12% from a year ago
Integration of recent acquisitions remains on track

TORONTO, May 8, 2013 /CNW/ - Intact Financial Corporation (TSX: IFC) today reported net operating income for the quarter ended March 31, 2013 of $175 million or $1.27 per share ($1.02 per share excluding a non-recurring item) compared to $179 million or $1.34 per share in the corresponding quarter of last year. Net income remained relatively unchanged at $174 million and adjusted earnings per share, which excludes integration-related costs, was $1.36 versus $1.55 for the same period last year. The combined ratio increased 2.8 percentage points to 95.1% from the exceptional underwriting performance of 92.3% in the first quarter of 2012. Direct premiums written increased 9% to $1.5 billion compared to a year ago, reflecting the addition of Jevco and organic growth.

CEO's Comments

"Throughout the first months of this year, we experienced better than expected growth as a result of our recent acquisition and its resulting expanded product offering, which was well-received by brokers and customers," said Charles Brindamour, Chief Executive Officer of Intact Financial Corporation.

"Our operating performance was sound during the quarter compared to last year's exceptional results which benefited from much more favourable weather conditions. Both our home and personal auto insurance portfolios fared well despite a significant increase in the number of snow and wind-related claims."

Dividends

The Board of Directors declared a quarterly dividend of 44 cents per share on its outstanding common shares. The Board also declared a quarterly dividend of 26.25 cents per share on the Company's Class A Series 1 and Class A Series 3 preferred shares. All dividends are payable on June 28, 2013 to shareholders of record on June 14, 2013.

Current Outlook

The company expects that industry premium growth is likely to evolve at a similar pace to that of the last 12 months. Furthermore, the continued low interest rate environment could support firmer market conditions. At an industry level, we do not expect improvement in personal auto as Ontario reforms have largely brought about the expected cost savings. While potential government initiatives in Ontario may reduce premium growth, loss ratios should remain stable as a result of additional cost reduction measures. Results in personal property may benefit from continued hard market conditions and potential initiatives aimed at mitigating losses from future catastrophes. In commercial lines, the company does not anticipate loss ratio improvements but conditions should improve at a moderate pace over time. Overall, the industry's ROE is not likely to improve materially from the 10.6% level reported last year.

IFC is well-positioned to continue outperforming the P&C insurance industry due to its pricing and underwriting discipline, claims management capabilities, prudent investment and capital management practices and solid financial position. Given these attributes, the company believes that it will outperform the industry's ROE by at least 500 basis points in the next 12 months.

Consolidated Highlights

In millions of dollars, except as otherwise noted	Q1-2013	Q1-2012	Change
Direct premiums written (excluding pools)	1,524	1,403	9%
Underwriting income¹	83	123	(33)%
Net operating income	175	179	(2)%
Net income²	174	173	1%
Earnings per share Basic and diluted (dollars)²	1.27	1.30	(2)%
Adjusted earnings per share Basic and diluted (dollars)²	1.36	1.55	(12)%
Net operating income per share (dollars)	1.27	1.34	(5)%
ROE for the last 12 months ^{2, 3}	12.9%	13.5%	(0.6) pts
Adjusted ROE for the last 12 months ^{2, 3}	14.9%	17.5%	(2.6) pts
Operating ROE for the last 12 months ³	16.0%	16.2%	(0.2) pts
Combined ratio (excluding MYA)	95.1%	92.3%	2.8 pts
Book value per share (dollars)	34.15	30.40	12%

¹ Underwriting income is defined as underwriting income excluding market yield adjustment (MYA). The MYA is the impact on claims liabilities due to movement in discount rates.
²Prior year figures have been restated to conform with the new employee benefits accounting standard. For details, please see page 22 and 23 of the Management's Discussion & Analysis.
³ For ROE, Adjusted ROE and Operating ROE in 2013, the average equity calculation has been adjusted on a pro rata basis to account for the $229 million of common shares issued as at September 4, 2012. The 2012 calculation was adjusted for the $921 million of common shares issued as at September 23, 2011.

Operating Highlights

Net operating income for the quarter was $175 million, down $4 million from the same quarter in 2012 which benefited from a mild winter. The decrease in underwriting income and lower investment income were partially offset by an unusually-low effective tax rate this quarter. Although we paid $284 million in taxes during the quarter, a non-recurring item related to a prior year adjustment significantly reduced our effective tax rate during the quarter. The operating ROE for the last twelve months was 16.0%.
Direct premiums written increased 9% in the first quarter to $1.5 billion, reflecting the addition of Jevco and low single-digit organic growth.
Underwriting income in the quarter decreased by $40 million to $83 million compared to the same period a year ago. The combined ratio of 95.1% was 2.8 percentage points higher than last year's exceptional underwriting performance. The increase was primarily due to the impact of more normal winter weather conditions in home insurance and less favourable prior year claims development in commercial lines. The underlying performance of our portfolio, which excludes catastrophes and prior year claims development, was higher by 1.9 percentage points year-over-year largely driven by an increase in the number of claims across all lines of business.

Personal auto combined ratio improved 1.1 percentage points from a year ago to 94.1%, as a significant increase in the frequency of claims due to more seasonal weather conditions offset higher favourable prior year development.

Personal property combined ratio increased 10 percentage points to 93.5% from the exceptional performance last year. The results were impacted by an 11% increase in claims frequency from more seasonal weather conditions and less favourable prior year development versus the first quarter of 2012.

Commercial auto combined ratio increased 12.1 percentage points to 97.3% from the very strong performance of 85.2% in the first quarter of 2012. The increase was primarily due to a higher number of claims compared to last year's unusually mild weather conditions and unfavourable prior year claims development. Excluding catastrophes and prior year claims development, the current year loss ratio was up by 3.5 percentage points year-over-year.

Commercial P&C combined ratio increased 0.6 percentage points from last year to 98.2% as lower favourable prior year claims development more than offset a decline in the amount of large claims losses.
Net investment income of $96 million was down 4% compared to the same period of last year due to marginally lower investment income and higher expenses. The market-based yield for the quarter was 3.4%, down 30 basis points from last year due to the low-yield environment.

Investment Gains

Net investment gains, excluding fair-value-through-profit-and-loss bonds, were $34 million in the first quarter compared to gains of $54 million a year ago. Total investments amounted to $12.5 billion at the end of the quarter, up $1.0 billion from a year ago.

Capital Management

The company's financial position remained solid with a minimum capital test of 214% and $744 million in excess capital. The company's book value per share was $34.15 at the end of the quarter, 12% higher compared to a year ago.

Recent acquisitions

The integration of AXA Canada continues to progress very well. The company maintains its $100 million in after-tax synergies target which it expects to achieve once the integration of policies are complete and the AXA system is shutdown in early 2014. At the end of the first quarter, an annual synergies run-rate of $84 million had been recorded.

With respect to the Jevco integration, the company expects to progressively reach annual expense synergies of approximately $15 million after-tax, largely by the end of 2014.

Analysts' Estimates

The average estimate of earnings per share and net operating income per share for the quarter among the analysts who follow the company was $1.38 and $1.32 respectively.

Conference Call

Intact Financial Corporation will host a conference call to review its earnings results later today at 11:00 a.m. ET. To listen to the call via live audio webcast and to view the company's Financial Statements, Management's Discussion & Analysis, presentation slides, the statistical supplement and other information not included in this press release, visit our website at www.intactfc.com and link to "Investor Relations". All of these documents are available on our website.

The conference call is also available by dialling (647) 427-7450 or 1 (888) 231-8191 (toll-free in North America). Please call 10 minutes before the start of the call.

A replay of the call will be available later today at 2:00 p.m. ET through 11:59 p.m. ET on Wednesday, May 15. To listen to the replay, call 1 (855) 859-2056, passcode 33222558. A transcript of the call will also be available on Intact Financial Corporation's website.

About Intact Financial Corporation

Intact Financial Corporation (www.intactfc.com) is the largest provider of property and casualty insurance in Canada. Intact offers home, auto and business insurance through Intact Insurance, belairdirect, Grey Power, BrokerLink and Jevco.

Forward Looking Statements

This document may contain forward looking statements that involve risks and uncertainties. The company's actual results could differ materially from these forward looking statements as a result of various factors, including those discussed in the company's most recently filed Annual Information Form and annual Management's Discussion & Analysis. Please read the cautionary note at the end of the MD&A.

Media Inquiries:
Gilles Gratton
Vice President, Corporate Communications
1 (416) 217-7206
gilles.gratton@intact.net

Investor Inquiries:
Dennis Westfall
Vice President, Investor Relations
1 (416) 341-1464 ext. 45122
dennis.westfall@intact.net

Intact Financial Corporation announces normal course issuer bid

Wed, 08 May 2013 06:54:00 -0400

TORONTO, May 8, 2013 /CNW/ - Intact Financial Corporation (TSX: IFC ) announced today that its Board of Directors has authorized a normal course issuer bid ("NCIB") to purchase for cancellation during the next 12 months up to 5% of its issued and outstanding common shares, subject to the approval of the Toronto Stock Exchange ("TSX").

It is expected that this normal course issuer bid will begin on or about May 13, 2013 and will expire on the earlier of May 12, 2014, or the date on which the company has either acquired the maximum number of common shares allowable or otherwise decided not to make any further repurchases.

"Our strong financial position, with nearly $750 million in excess capital, allows us to return capital to shareholders, while maintaining the financial resources required to pursue our growth strategies," said Charles Brindamour, Chief Executive Officer of Intact Financial Corporation.

Under the terms of the NCIB and subject to TSX approval, the company will purchase the common shares on the open market, alternate trading systems or through private agreements pursuant to exemption orders. At the close of business on May 1, 2013, there were 133,333,665 shares issued and outstanding.

Media Inquiries:
Gilles Gratton
Vice President, Corporate Communications
1 (416) 217-7206
gilles.gratton@intact.net

Investor Inquiries:
Dennis Westfall
Vice President, Investor Relations
1 (416) 341-1464 ext. 45122
dennis.westfall@intact.net

Media Advisory - Intact Financial Corporation to release 2013 first quarter results on May 8

Wed, 01 May 2013 07:00:00 -0400

TORONTO, May 1, 2013 /CNW/ - Intact Financial Corporation (TSX: IFC) will announce its 2013 first quarter results on Wednesday, May 8 at approximately 7:00 a.m. ET and host a conference call for analysts and investors at 11:00 a.m. ET the same day.

Conference call participants will be Charles Brindamour, Chief Executive Officer, Mark Tullis, Chief Financial Officer, Martin Beaulieu, Senior Vice President Personal Lines and Alain Lessard, Senior Vice President Commercial Lines.

To listen to the call via live audio and to view the presentation slides and supplementary financial information, visit our website at www.intactfc.com and link to "Investor Relations".

The conference call is also available by dialling (647) 427-7450 or 1 (888) 231-8191 (toll-free in North America). Please call 10 minutes before the start of the call.

A replay of the call will be available on May 8 beginning at 2:00 p.m. ET until midnight on May 15. To listen to the replay, call 1 (855) 859-2056, passcode 33222558. A transcript of the call will also be made available on Intact Financial Corporation's website.

About Intact Financial Corporation

Media Inquiries:
Sandra Nunes
Manager, External Communications
1 (416) 341-1464 ext. 43127
Email: sandra.nunes@intact.net

Investor Inquiries:
Dennis Westfall
Vice President, Investor Relations
1 (416) 341-1464 ext. 45122
Email: dennis.westfall@intact.net

Intact Financial Corporation's Annual Report and Proxy Circular are available online

Mon, 01 Apr 2013 07:50:00 -0400

TORONTO, April 1, 2013 /CNW/ - Intact Financial Corporation (TSX: IFC) announced today that its 2012 Annual Report and Annual Information Form as well as its 2013 Management Proxy Circular are now available online at www.intactfc.com under the Investor Relations link.

The Management Proxy Circular contains information about the Annual Meeting of Shareholders that will take place at 2:00 p.m. ET on May 8, 2013 at the Art Gallery of Ontario, located at 317 Dundas Street West in Toronto. At the meeting, shareholders will be asked, among other things, to approve the advisory resolution as it relates to the company's executive compensation. There will also be a live webcast of the shareholders' meeting on the company's website at www.intactfc.com.

About Intact Financial Corporation

Media Inquiries:
Gilles Gratton
Vice President, Corporate Communications
1 (416) 217-7206
gilles.gratton@intact.net

Investor Inquiries:
Dennis Westfall
Vice President, Investor Relations
1 (416) 341-1464 ext. 45122
dennis.westfall@intact.net

Intact Financial Corporation Reports Fourth Quarter and Year-End Results

Wed, 06 Feb 2013 06:55:00 -0500

TORONTO, Feb. 6, 2013 /CNW/ -

Net operating income per share up 25% to $1.42 in the fourth quarter, reflecting a combined ratio of 92.1%
Premium growth of 7% in the fourth quarter, bolstered by the addition of JEVCO
Operating ROE of 16.8% with an 11% increase in book value per share in 2012
Quarterly dividend raised 10% to $0.44 per share
AXA Canada and JEVCO integrations on track

Intact Financial Corporation (TSX: IFC) today reported net operating income for the quarter ended December 31, 2012 of $194 million, or $1.42 per share up 25% compared to the same quarter last year, driven by improved underwriting performance. Net income was $181 million compared to $84 million for the corresponding quarter last year due to improved operating results and higher investment gains. Adjusted earnings per share, which excludes integration-related costs, was up 32% to $1.51. The exceptional performance in personal property resulted in an overall combined ratio of 92.1%. Direct premiums written increased 7% year-over-year to reach $1.7 billion, reflecting the acquisition of JEVCO and organic growth.

Net operating income for the year was $675 million, up $215 million from the previous year. On a per share basis, net operating income increased 28% to $5.00 on higher underwriting and investment income. Net income was $587 million compared to $465 million in the prior year, while adjusted earnings per share was up 7% to $5.15 as greater operating income more than offset the decline in investment gains. The combined ratio improved 1.3 percentage points versus last year to 93.1%. Direct premiums written for the year increased 35% to reach $6.9 billion, reflecting the acquisitions of AXA Canada and JEVCO. The book value per share was up 11% during the year to $33.03.

CEO's Comments

"Our excellent fourth quarter underwriting performance is indicative of the progress that we achieved in 2012," said Charles Brindamour, Chief Executive Officer of Intact Financial Corporation. "Throughout the year, we continued to strengthen our operating performance despite the low yield environment and the impact of weather events which challenged the industry."

"Given our solid financial position and strong operating earnings, we are increasing our dividend for the eighth consecutive year. As we begin another year, we are confident that we will outperform the industry and continue to build a world-class P&C insurer."

Dividends

The Board of Directors increased the company's quarterly dividend by 10%, or 4 cents, to 44 cents per share on its outstanding common shares. The Board also declared a quarterly dividend of 26.25 cents per share on the Company's Class A Series 1 and Class A Series 3 shares. All dividends are payable on March 28, 2013 to shareholders of record on March 14, 2013.

Current Outlook

At an industry level, we do not expect a significant improvement in personal auto as Ontario reforms have largely brought about the expected cost savings. Results in personal property may benefit from continued hard market conditions and potential initiatives aimed at mitigating losses from future catastrophes. In commercial lines, the company does not anticipate loss ratio improvements but conditions should improve at a moderate pace over time.

Overall, the industry's ROE is likely to progress at the same upper single digit rate that it recorded in the first nine months of 2012, and will likely remain slightly below its long-term average of 10% in 2013.

Consolidated Highlights

In millions of dollars, except as otherwise noted	Q4-2012	Q4-2011	Change	2012	2011	Change
Direct premiums written (excluding pools)	1,690	1,576	7%	6,868	5,099	35%
Underwriting income¹	138	118	17%	451	273	65%
Net operating income	194	152	28%	675	460	47%
Net income	181	84	115%	587	465	26%
Earnings per share Basic and diluted (dollars)	1.32	0.62	113%	4.33	3.96	9%
Adjusted earnings per share Basic and diluted (dollars)	1.51	1.14	32%	5.15	4.82	7%
Net operating income per share (dollars)	1.42	1.14	25%	5.00	3.91	28%
ROE for the last 12 months ²	13.8%	14.3%	(0.5) pts
Adjusted ROE for the last 12 months ²	16.5%	17.4%	(0.9) pts
Operating ROE for the last 12 months ²	16.8%	15.3%	1.5 pts
Combined ratio (excluding MYA)	92.1%	92.7%	(0.6) pts	93.1%	94.4%	(1.3) pts
Book value per share (dollars)	33.03	29.73	11%

¹ Underwriting income is defined as underwriting income excluding market yield adjustment (MYA). The MYA is the impact on claims liabilities due to movement in discount rates.
² For ROE, Adjusted ROE and Operating ROE in 2012, the average equity calculation has been adjusted on a pro rata basis to account for the $229 million of common shares issued as at September 4, 2012. The 2011 calculation was adjusted for the $921 million of common shares issued as at September 23, 2011.

Operating Highlights

Net operating income for the quarter was $194 million, up $42 million from the equivalent quarter in 2011. The 28% increase is attributable to improved underwriting income driven by an exceptional performance in home insurance. The operating ROE for the last twelve months improved by 1.5 percentage points to 16.8%.

Net operating income for the year was $675 million, up 47% from $460 million recorded in 2011. The increase reflects the contribution of AXA Canada to both underwriting and investment income as well as an improvement in the combined ratio.

Direct premiums written increased 7% in the fourth quarter to $1.7 billion, as a result of the addition of JEVCO and organic growth.

For the year, total direct premiums written increased by $1.8 billion to $6.9 billion. The increase is mainly attributable to the additions of AXA Canada and JEVCO.

Underwriting income in the quarter increased by $20 million to $138 million compared to the same period a year ago, led by unusually strong results in home insurance. Overall, the combined ratio improved by 0.6 percentage points to 92.1%.

Personal property combined ratio improved 21.5 percentage points to an exceptional 67.1% from the very strong underwriting performance recorded in the fourth quarter of 2011. The improvement was the result of unusually high favourable prior year claims development, a decline in catastrophe losses, our continued actions to improve profitability and benign weather. Excluding the impact of the catastrophes and prior year claims development, the loss ratio improved by 5.8 percentage points year-over-year.

Personal auto combined ratio increased by 9.8 percentage points to 103.1% compared to the same period last year, primarily due to unfavourable prior year claims development related to actions that we took to protect against early signs of deterioration in bodily injury claims in Alberta and uncertainty in Ontario.

Commercial auto combined ratio improved 8.8 percentage points from a year ago to 84.2%, reflecting higher favourable prior year claims development.

Commercial P&C combined ratio of 95.9% was largely unchanged from the corresponding quarter of last year. Improvements in the claims ratio were offset by an increase in the expense ratio due to higher variable commissions related to improved profitability.

Despite catastrophe losses that reached $245 million, total underwriting income for the year was up $178 million to $451 million, largely reflecting the addition of AXA Canada. Overall, the combined ratio improved 1.3 percentage points during the year to 93.1%.

Investment income of $102 million remains relatively flat from the corresponding period in 2011 as an increase in investments resulting from the acquisition of JEVCO was offset by the impact of declining yields. For the year, total investment income was up 19% to $389 million, as a result of increased investments. The market-based yield was 3.6% for both the quarter and the year, down from the comparable periods.

Investment Gains

Net investment gains, excluding fair-value-through-profit-or-loss bonds, were $30 million in the fourth quarter compared to a loss of $7 million a year ago due to lower equity impairments. In 2012, the company had investment gains of $72 million compared to $140 million in 2011. Total investments amounted to $13.0 billion at the end of the year, up $1.1 billion from a year ago as a result of the acquisition of JEVCO.

Capital Management

The company's financial position at the end of 2012 remained solid with a minimum capital test of 205% and $599 million in excess capital. The company's book value per share was $33.03 at the end of the year, 11% higher compared to twelve months ago.

AXA Canada Acquisition

After completing the renewal of all one-year policies in personal lines and non-specialty commercial lines, the company is now in the process of converting commercial specialty lines and two-year policies. Once all policies have been converted, the company expects to decommission AXA systems in the first part of 2014. As such, the company maintains its $100 million in after-tax synergies target which it expects to achieve after the AXA system shutdown is complete in the early part of 2014. At the end of the fourth quarter, an annual synergies run-rate of $52 million had been recorded. Integration expenses, which typically occur earlier in the integration process than synergies, amounted on a pre-tax basis to $71 million in 2011 and $79 million in 2012.

JEVCO Acquisition

On September 4, 2012, the company completed its $530 million acquisition of JEVCO

Insurance Company. The conversion of the acquired book of business has begun for all lines of business. The company expects to progressively reach annual expense synergies of approximately $15 million after-tax, largely by the end of 2014. In 2012, the company recorded pre-tax integration expenses of $29 million.

Analysts' Estimates

The average estimate of earnings per share and net operating income per share for the quarter among the analysts who follow the company was $1.28 and $1.34 respectively.

Conference Call

Intact Financial Corporation will host a conference call to review its earnings results later today at 11:00 a.m. ET. To listen to the call via live audio webcast and to view the company's Financial Statements, Management's Discussion & Analysis, presentation slides, the statistical supplement and other information not included in this press release, visit our website at www.intactfc.com and link to "Investor Relations." All of these documents are available on our website.

The conference call is also available by dialling (647) 427-7450 or 1 (888) 231-8191 (toll-free in North America). Please call 10 minutes before the start of the call.

A replay of the call will be available later today at 2:00 p.m. ET through 11:59 p.m. ET on Wednesday, February 13. To listen to the replay, call 1 (855) 859-2056, passcode 87223420. A transcript of the call will also be available on Intact Financial Corporation's website.

About Intact Financial Corporation

Forward Looking Statements

Media Inquiries:
Gilles Gratton
Vice President, Corporate Communications
1 (416) 217-7206
gilles.gratton@intact.net

Investor Inquiries:
Dennis Westfall
Vice President, Investor Relations
1 (416) 341-1464 ext. 45122
dennis.westfall@intact.net

Intact Financial Corporation acquires full rights to FellowDSS™ Accelerator Insurance Business Intelligence Analytical system

Wed, 30 Jan 2013 08:00:00 -0500

TORONTO, Jan. 30, 2013 /CNW Telbec/ - Insurance Business Analytics consultancy InEdge announced today that Intact Financial Corporation (TSX: IFC), Canada's largest provider of property and casualty insurance, has reached a milestone towards the implementation of the FellowDSS^TM Accelerator, InEdge's enterprise-wide Business Intelligence platform.

After releasing its first project with FellowDSS this year, Intact has acquired the FellowDSS Framework version. This will provide Intact with access to the Intellectual Property functionalities of FellowDSS and enable its team to customize the system to its fullest.

"The FellowDSS application will be a great addition that will support our analytical capabilities", says Denis Pouliot, Vice President, Applications Development, at Intact. "By leveraging and customizing the FellowDSS platform, we will improve our ability to manage an ever increasing volume of complex data and accelerate the deployment of our analytical solutions".

"We are very pleased with Intact's decision to acquire the Framework license," said Philippe Torres, Partner and Co-founder at InEdge. "We are confident that FellowDSS Accelerator will provide Intact with a strong foundation for its Business Intelligence initiatives and enable the company to continue gaining strategic value from its data."

About FellowDSS^TM Accelerator
FellowDSS™ Accelerator is a complete Business Intelligence solution for insurance companies that integrate technical elements and industry-specific business content. It is built around an integrated data warehouse that stores transactional data from a company's operational support systems. FellowDSS™ Accelerator consolidates and integrates data from across the various systems of a company, and makes the data easy to analyze through pre-defined or ad-hoc reports. Simply put, it provides a single version of the truth.

About InEdge
InEdge is a consultancy specialized in Business Intelligence and Analytics for the insurance industry. Expert at quickly leveraging data, InEdge seamlessly and powerfully creates business advantage for its clients. Over $10.25 billion Property & Casualty direct written premiums are analyzed through solutions designed and implemented by InEdge's experienced team. InEdge is headquartered in Montreal and has offices in New York and Toronto. Visit www.inedge.com for more information.

Etienne Castonguay
Partner and Co-founder
InEdge
1-866-333-8184

Media Advisory - Intact Financial Corporation to release 2012 fourth quarter results and year end results on February 6

Wed, 30 Jan 2013 07:00:00 -0500

TORONTO, Jan. 30, 2013 /CNW/ - Intact Financial Corporation (TSX: IFC) will announce its 2012 fourth quarter and year-end results on Wednesday, February 6 at approximately 7:00 a.m. ET and host a conference call for analysts and investors at 11:00 a.m. ET on the same day.

To listen to the call via live audio and to view the presentation slides and supplementary financial information, visit our website at www.intactfc.com and link to "Investor Relations."

The conference call is also available by dialling (647) 427-7450 or 1 (888) 231-8191 (toll-free in North America). Please call 10 minutes before the start of the call.

A replay of the call will be available on February 6 beginning at 2:00 p.m. ET until midnight on February 13. To listen to the replay, call 1 (855) 859-2056, passcode 87223420. A transcript of the call will also be made available on Intact Financial Corporation's website.

About Intact Financial Corporation

Media Inquiries:
Sandra Nunes
Manager, External Communications
1 (416) 341-1464 ext. 43127
Email: sandra.nunes@intact.net

Investor Inquiries:
Dennis Westfall
Vice President, Investor Relations
1 (416) 341-1464 ext. 45122
Email: dennis.westfall@intact.net

Canadian Broker Network to acquire South Western Insurance Group

Wed, 05 Dec 2012 12:00:00 -0500

TORONTO, Dec. 5, 2012 /CNW/ - Canadian Broker Network ("CBN") and Intact Financial Corporation (TSX : IFC) announced today that they have reached an agreement whereby CBN will acquire Intact affiliate South Western Insurance Group Limited ("South Western"), a wholesale insurance intermediary that provides brokerages with specialty and niche insurance markets. Terms of the transaction, which is expected to close by the end of the year, were not disclosed.

The acquisition of South Western marks CBN's expansion into the wholesale insurance market and complements its existing activities. CBN's ownership will provide South Western with the ability to expand its relationships with insurance companies which will greatly benefit South Western's brokers.

"This acquisition is a tremendous opportunity as it allows us to enter an important segment of the brokerage industry," said Daryn McLean, Chair of Canadian Broker Network. "With more than 50 years supporting brokers, South Western's growth potential is significant thanks to its strong industry relationships, experienced professionals and unique underwriting expertise in niche and specialty insurance products."

"We are pleased to have found in CBN the perfect organization to help South Western realize its growth potential," said Louis Gagnon, President and Chief Operating Officer of Intact Financial Corporation. "Under the strategic direction of CBN, South Western will be well-positioned to better serve the needs of insurance brokers across the country."

Upon closing, South Western will operate as an independent subsidiary of CBN with its own leadership team, name and brand. "At South Western, brokers can always count on an impressive team of committed and talented employees. Moving forward, the current team will play an even greater role in strengthening our industry relationships and expanding our activities," said Mack Rooney, President of South Western Group.

About Canadian Broker Network
The Canadian Broker Network (www.canadianbrokernetwork.com) is a group of nine leading, independent commercially oriented insurance brokers. Together, the network writes more than C$750 million in property and casualty premiums annually.

About South Western Insurance Group
South Western Insurance Group (www.swgins.com) is a Wholesale Insurance Intermediary/Managing General Agent offering a broad range of insurance solutions for specialty, niche, program and hard-to-place business. Since 1961 South Western has provided underwriting expertise to insurance brokers across Canada.

Media inquiries
Daryn McLean, Chairman
Canadian Broker Network
1 (416) 364-0160
daryn@mooremclean.com

Gilles Gratton
Vice President, Corporate Communications
Intact Financial Corporation
1 (416) 217-7206
gilles.gratton@intact.net

Sandra Nunes
Manager, External Communications
Intact Financial Corporation
1 (416) 341-1464 ext. 43127
sandra.nunes@intact.net