Topic: How To Invest

Power Growth Investor Hotline – Friday, November 6, 2020

Article Excerpt

INTACT FINANCIAL CORP., $144.88, is buy. The stock (symbol IFC on Toronto) provides investors exposure to Canada’s largest provider of property and casualty insurance. Intact insures more than five million individuals and businesses. Its major brands are Intact Insurance, Canada BrokerLink and belairdirect. In a bid to add value for investors, the company acquired OneBeacon Insurance Group for $1.7 billion U.S. in September 2017. The Minnesota-based insurance holding company focuses on property-casualty insurance. Through its businesses, the firm provides a range of specialty insurance products. OneBeacon represented Intact’s entry into the U.S. market to drive future growth. Still expanding beyond its home market, plus an acquisition of this size, adds risk. The firm is nonetheless turning out to be a great fit for Intact, which has successfully integrated a number of acquisitions in the past few years. Intact’s shares jumped over 4% this week after the company reported improved results in the latest quarter. For the three months ended September 30, 2020, revenue rose…