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Intact Financial Corporation completes acquisition of On Side Restoration
Intact Financial Corporation completes acquisition of On Side Restoration Canada N...
About this update from Intact Financial Corporation
[{"type":"text","content":"\n\n\n\nIntact Financial Corporation completes acquisition of On Side Restoration\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Oct. 1, 2019\n\n\n\nTORONTO, Oct. 1, 2019 /CNW/ - Intact Financial Corporation (TSX:IFC) announced today that it has completed its acquisition of On Side Developments Ltd. (On Side Restoration) having received all required regulatory approvals.\n\"We are pleased to announce the completion of the acquisition of On Side Restoration,\" said Charles Brindamour, CEO, Intact Financial Corporation. \"With the support of Craig Hogarth, On Side Restoration will continue to operate as a separate and distinct entity committed to strengthening repair and restoration services for property and casualty insurers and their customers across Canada.\"\nThe acquisition provides immediate low single digit accretion to NOIPS, and mild accretion to ROE. Starting in Q4 2019, On Side Restoration results will be reported in Distribution EBITA and Other in IFC's MD&A.\nAbout Intact Financial CorporationIntact Financial Corporation (TSX: IFC) is the largest provider of property and casualty (P&C) insurance in Canada and a leading provider of specialty insurance in North America, with over $10 billion in total annual premiums. The Company has approximately 14,000 full- and part-time employees who serve more than five million personal, business and public-sector clients through offices in Canada and the U.S. In Canada, Intact distributes insurance under the Intact Insurance brand through a wide network of brokers, including its wholly-owned subsidiary BrokerLink, and directly to consumers through belairdirect. In the U.S., OneBeacon Insurance Group, a wholly-owned subsidiary, provides specialty insurance products through independent agencies, brokers, wholesalers and managing general agencies. \nForward Looking StatementsCertain statements included in this press release, including without limitation, the timing for completion of the proposed acquisition, management's estimates and expectations in relation to resulting accretion, interna...