{"id":16391,"date":"2019-08-15T15:30:15","date_gmt":"2019-08-15T19:30:15","guid":{"rendered":"https:\/\/insurance-journal.ca\/article\/intact-to-acquire-the-guarantee-and-frank-cowan-company\/"},"modified":"2019-08-15T15:30:15","modified_gmt":"2019-08-15T19:30:15","slug":"intact-to-acquire-the-guarantee-and-frank-cowan-company","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/08\/15\/intact-to-acquire-the-guarantee-and-frank-cowan-company\/","title":{"rendered":"Intact to acquire The Guarantee and Frank Cowan Company"},"content":{"rendered":"\n<div><img decoding=\"async\" src=\"http:\/\/insurance-journal.ca\/media\/photologue\/photos\/brindamour_charles_2019.png\" class=\"ff-og-image-inserted\"><\/div>\n<p><strong>Intact Financial Corporation<\/strong> announced Aug. 15 that it has entered into an agreement with <strong>Princeton Holdings<\/strong> to acquire <strong>The Guarantee Company of North America<\/strong> and <strong>Frank Cowan Company Limited<\/strong> for a cash consideration of approximately $1 billion.<\/p>\n<p>The transaction is expected to close in the fourth quarter of 2019, subject to regulatory approvals.&nbsp;<\/p>\n<p>The Guarantee is a Canadian-owned specialty lines insurer with customers in Canada and the United States. Intact says that acquiring the company will add \u201cmore than $560 million in Gross Premiums Written, including over $100 million in the U.S., bringing Intact&#8217;s annual North American specialty lines Direct Premiums Written close to $3 billion.\u201d<\/p>\n<h5>High net worth customer segment<\/h5>\n<p>Intact says the acquisition will bolster its position in Canada and add new products for the high net worth customer segment. \u201cIt meaningfully advances Intact&#8217;s North American specialty lines platform solidifying prominent positions in public entity and surety,\u201d says the company.<\/p>\n<p>Frank Cowan Company is an MGA that provides specialized insurance programs to public entities across Canada. Princeton Holdings will continue to retain full ownership of its other businesses: <strong>Cowan Insurance Group<\/strong>, <strong>Cowan Asset Management<\/strong>, and <strong>Fountain Street Finance<\/strong>.<\/p>\n<p>&#8220;The acquisition of The Guarantee Company of North America and Frank Cowan Company is strongly aligned with our strategic and financial objectives,&#8221; stated <strong>Charles Brindamour<\/strong>, Chief Executive Officer, Intact Financial Corporation. &#8220;We are delivering on our objectives to grow in Canada and build a leading North American specialty platform. I&#8217;m enthusiastic about what we will accomplish by leveraging the combined expertise of our teams and our expanded offering.&#8221;<\/p>\n<p> <a href=\"https:\/\/insurance-journal.ca\/article\/intact-to-acquire-the-guarantee-and-frank-cowan-company\/\">Read the original article at insurance-journal.ca <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Intact Financial Corporation announced Aug. 15 that it has entered into an agreement with Princeton Holdings to acquire The Guarantee Company of North America and Frank Cowan Company Limited for a cash consideration of&#46;&#46;&#46;<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/16391"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=16391"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/16391\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=16391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=16391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=16391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}