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News : Intact Financial Corporation Completes Acquisition of Canadian Direct Insurance Inc.
Toronto, ON, Canada May 1, 2015 -- Intact Financial Corporation (TSX: IFC) announced that it has completed its acquisition of Canadian Direct Insurance Inc. ("CDI" or "Canadian Direct"), thereby extending its direct-to-consumer operations from coast to coast.
In Alberta, the Canadian Direct operations will be integrated with belairdirect, IFC's existing direct-to-consumer brand. In British Columbia, the Canadian Direct brand will be maintained and will continue to offer its products directly to customers.
"The completion of this transaction represents a great opportunity to grow our direct operations while improving our ability to respond to the evolving needs of our customers," said Louis Gagnon, President Service & Distribution. "The benefits of combining this experienced local team and their track record of strong underwriting performance in Western Canada with the dynamic team at belairdirect will help the organization achieve its goals of growth and innovation," added Gagnon.
Posted by Veronica Silva Cusi, news correspondent
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About Intact Financial Corporation:
Intact Financial Corporation is the largest provider of property and casualty insurance in Canada with $7.3 billion in premiums. With over 11,000 employees, the company insures more than five million individuals and businesses through its insurance subsidiaries and is the largest private sector provider of P
Published: Monday, May 4, 2015