Here’s our Pick of the Month

Article Excerpt

INTACT FINANCIAL $102.45 (Toronto symbol IFC; TSINetwork Rating: Extra Risk) (416-341-1464; www.intactfc.com; Shares outstanding: 139.2 million; Market cap: $14.3 billion; Dividend yield: 2.7%) is Canada’s largest provider of property and casualty insurance. The company insures more than five million individuals and businesses. Its major brands are Intact Insurance, Canada BrokerLink and belairdirect. In the three months ended September 30, 2018, the insurer’s revenue rose 22.9%, to $2.71 billion from $2.20 billion a year earlier. Some of the gain came from Intact’s September 2017 acquisition of OneBeacon Insurance Group for $1.7 billion U.S. Overall earnings per share in the quarter rose 0.6%, to $1.62 from $1.61. The profit rise was mainly due to a higher contribution from its personal auto business as well as sound results for OneBeacon. That firm is a Minnesota-based insurance holding company. OneBeacon’s property-casualty businesses offers a range of specialty insurance products across the U.S. Its policyholders include architecture and engineering professionals as well as members of the marine, sports and entertainment industries. OneBeacon…

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