Intact completes acquisition
Intact Financial Corporation announced Dec. 2 that it has completed the acquisition of The Guarantee Company of North America and Frank Cowan Company Limited, having received all required regulatory approvals.
"Closing this transaction represents meaningful progress on our strategic objectives," stated Charles Brindamour, Chief Executive Officer, Intact Financial Corporation. "After months of working together on integration planning, we can now welcome The Guarantee and Frank Cowan employees into the Intact family. We look forward to continue to work together to advance our goals of bolstering our leadership position in Canada while building a leading North American specialty insurer."
The acquisition was first announced on August 15. The Guarantee is a Canadian-owned specialty lines insurer with customers in Canada and the United States. Frank Cowan Company is an MGA that provides specialized insurance programs to public entities across Canada.