August 15, 2019
Torys is providing insurance regulatory (Blair Keefe, Eli Monas and Kelly Morris) and tax advice (Jerald Wortsman) to Intact Financial.
On August 15, 2019, Intact Financial Corporation announced that it entered into a definitive agreement with Princeton Holdings Limited to acquire The Guarantee Company of North America and Frank Cowan Company Limited for a cash consideration of approximately C$1 billion.
The transaction is expected to close in the fourth quarter of 2019, subject to regulatory approvals..
Further information can be found on Canada Newswire’s website.
The Guarantee Company of North America is a leader in specialty insurance and surety within North America, offering in-depth knowledge and expertise in niche segments, including personal insurance, corporate insurance, surety, transportation and trade credit insurance.
Frank Cowan Company Limited is a leader in providing specialized insurance programs, including risk management and claims services to municipalities, healthcare, education, community, children’s and social service organizations across Canada.
Intact Financial Corporation is the largest provider of property and casualty insurance in Canada and a leading provider of specialty insurance in North America, with over C$10 billion in total annual Direct Premiums Written.
Princeton Holdings Limited, headquartered in Cambridge, Ontario, is a private holding company that, through its operating companies, provides insurance and risk management solutions.