Intact to acquire RSA’s Canada, UK and international operations
Intact Financial Corporation announced that, together with Tryg , it has reached an agreement for the acquisition of RSA . Pursuant to the transaction, Intact will, with the support of Caisse de dépôt et placement du Québec (CDPQ), acquire RSA Group’s Canada, UK and International operations and co-own RSA Group’s Danish business with Tryg.
IFC will also invest $1.5 billion in technology in Quebec over the next five years.
“Intact Financial Corporation has its roots in Quebec. While our success now extends well beyond Quebec’s borders, we still run a significant portion of our North American operations there. With the support of CDPQ, our acquisition of RSA will create additional demands and opportunities for the teams supporting our global operations; coupled with our future tech investments, this will provide a significant and lasting boost to the expansion of our strategic teams based in Quebec.” – Charles Brindamour, CEO of Intact Financial.
“We’ve been partners with Intact Financial Corporation for over 10 years. Our investment has yielded positive returns for our depositors, thanks to the company’s strong track record of successfully integrating the companies they have acquired. We’re delighted to support this new acquisition, which will provide new growth opportunities for IFC, strengthen its leading position in Canada, and have a significant impact in Quebec’s financial and technology sectors.” – Charles Emond, President and CEO, CDPQ.
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"This is an exciting day for us in the US and our teams in Canada, as we officially move forward as Intact Insurance Specialty Solutions. The entire North American specialty team looks forward to continuing to provide our customers and brokers with our hallmark specialized products and services, backed by the strength of the Intact brand." - President, US Operations and Intact Insurance Specialty Solutions, Mike Miller.