11th May 2022

Intact reports "solid" first quarter-further integration of RSA
Trend

Intact Financial highlights are:
-Net operating income per share increased 13% to $2.70, driven by accretion from RSA and growth in distribution income
-Operating DPW1 grew 86% in the quarter driven by the RSA acquisition and 8% organic growth, led by commercial lines
-Operating combined ratio was a solid 91.7, but 2.4 points higher than last year due to elevated catastrophe losses
-EPS of $2.53 in the quarter reflected solid operating results but declined from the prior-year period, which included a large investment gain
-OROE of 16.6% and ROE of 14.9%, with BVPS growth of 32% and $2.6bn total capital margin
-RSA integration progressing well and delivered 12% accretion to NOIPS in the quarter
Charles Brindamour, ceo, comments “We continued to deliver solid results in Q1-2022 and made significant headway in integrating RSA. Our people are collaborating well together,
sharing expertise and working to ensure a seamless transition for customers. We have also taken actions to optimise our UK&I footprint and focus our efforts to drive outperformance. Subsequent to quarter end, we announced the sale of RSA’s Middle East business and closed the sale
of Codan Denmark. Our robust balance sheet, strong book of business and industry leading talent put us on strong footing to support our customers through this volatile time and capture opportunities as they arise.”

Intact Trends(19 articles)