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Intact Financial Corporation and RSA announce Exit from UK Personal Lines Motor market
Intact Financial Corporation and RSA announce Exit from UK Personal Lines Motor market ...
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[{"type":"text","content":"\n \n \n \n Intact Financial Corporation and RSA announce Exit from UK Personal Lines Motor market\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnsbbb0{\nBORDER-BOTTOM:black 0pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Agreement with Atlanta Group for MORE THAN direct motor renewals\n \n \n \n \n UK Personal Lines business to continue focusing for performance in Home and Pet\n \n \n \n \n Ongoing technology renewal and simplification to drive efficiency across the platform\n \n \n \n \n UK & International business accelerates its path to deliver a low-90s combined ratio\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 28, 2023\n \n \n /CNW/ - Intact Financial Corporation (TSX: IFC) (Intact, IFC or the Company) and its subsidiary RSA, announced today initiatives aimed at improving the strength and sustainability of the UK & International business.\n \n \n The personal lines motor market in the UK remains extremely competitive and requires significant scale to drive meaningful outperformance. After a thorough review, RSA is exiting the UK personal lines motor market, representing approximately £120 million of annual premium for the company. The exit includes an agreement to introduce MORE THAN direct motor customers to Swinton Insurance, a brand of Atlanta Insurance Intermediaries Limited (Swinton) and part of Ardonagh Retail, upon renewal.\n \n \n RSA is recognized as a leading provider of personal lines Home and Pet insurance and holds strong positions in these markets. We will continue to optimize our position in Home and Pet by improving segmentation, focusing on growth in the direct business and managing partnerships for value. We also intend to drive cost improvements by leve...