TORONTO, Jan. 22,
2025 /CNW/ - Intact Financial Corporation (TSX: IFC)
today announced that T. Michael
Miller will retire from his current role as Chief Executive
Officer (CEO), Global Specialty Lines (GSL), effective March 31, 2025. He will remain with the
organization serving as Chairman, Global Specialty Lines and the
IFC board will also be appointing and welcoming him as a Director
of IFC following his retirement. Mr. Miller's retirement follows a
successful 44-year career in the property and casualty (P&C)
industry, including thirteen years at OneBeacon Insurance and the
last seven years at Intact, which acquired OneBeacon in 2017.
"Mike has been a valued member of our senior leadership team
whose impact has been felt beyond specialty lines," said
Charles Brindamour, CEO, Intact
Financial Corporation. "He has built an impressive global platform
centered around outperformance and a highly engaged team. I am
grateful for his many contributions and that we will be able to
continue to tap into his expertise and insights as Chairman, GSL
and a member of our Board."
Under Mr. Miller's leadership, the company's specialty platform
has more than tripled in size, growing from $2 billion in premiums primarily in North America to over $6 billion with global operations which now
include the UK and Europe, and
access to 150 territories through its Global Network. Mr. Miller
also delivered meaningful profitability improvements through
progress in pricing and underwriting sophistication.
Emmanuel Clarke, currently
serving as IFC Corporate Director and Chairman of IFC's GSL
Advisory Board, will succeed Mr. Miller as CEO GSL and will
concurrently step down from the board. Mr. Clarke has had a long
and established career in the insurance sector, having spent more
than 25 years at PartnerRe, a leading global reinsurer, where he
served as President & CEO from 2015 to 2020. In recent years he
has served on several insurance-related corporate boards advising
executives, investors, and founders on how best to accelerate
growth across the insurance value chain.
"As a board member, Emmanuel has already made strong
contributions to our specialty business," stated Brindamour. "He is
highly engaged and energized by opportunities. I look forward to
working with him as CEO GSL as we continue to pursue our objective
of $10 billion in Direct Premiums
Written by 2030 at a sustained sub-90s combined ratio."
About Intact Financial Corporation
Intact Financial Corporation (TSX: IFC) is the largest provider
of property and casualty (P&C) insurance in Canada, a leading provider of global specialty
insurance, and, with RSA, a leader in the U.K. and Ireland. Our business has grown organically
and through acquisitions to over $22 billion of total annual
premiums.
In Canada, Intact distributes
insurance under the Intact Insurance brand through agencies and a
wide network of brokers, including its wholly owned subsidiary
BrokerLink. Through belairdirect, Intact distributes directly to
consumers. Intact also provides affinity insurance solutions
through affinity groups, travel insurance, as well as exclusive and
tailored offerings through Intact Prestige.
In the U.S., Intact Insurance Specialty Solutions provides a
range of specialty insurance products and services through
independent agencies, regional and national brokers, and
wholesalers and managing general agencies.
In the U.K., Ireland, and
Europe, Intact provides personal,
commercial and/or specialty insurance solutions through the RSA,
NIG and FarmWeb brands.
SOURCE Intact Financial Corporation
