Intact Financial (IFC) Fireside chat summary

Introduction and agenda

• The session opened with Tom MacKinnon welcoming Charles Brindamour, CEO, for a discussion focused on recent results, segment outlooks, and strategic direction.

Background and experience of the speaker

• Charles Brindamour referenced his 30+ years in the insurance industry, providing historical context for industry cycles and strategic decisions.

Current industry trends

• The business demonstrated resilience despite record catastrophe losses, maintaining strong ROE and capital generation.

• Commercial lines in Canada and the UK are experiencing mid-single-digit rate increases, with a firm environment in SME and mid-market segments.

• Personal property rates are rising due to inflation and increased natural disasters, with low double-digit increases expected.

• Personal auto remains a hard market, with sub-95% combined ratio guidance and regulatory risk seen as manageable.

• The industry is still losing money in personal auto, supporting continued rate increases.