reports
Moody’s Ratings rates Intact Financial Corporation’s senior unsecured ...
Company issuing CAD300 million of medium term notes Toronto , May 14, 2024 – Moody's Ratings (Moody's) has assigned a Baa1 rating to CAD300 million of senior unsecured notes due May 2034 issued by Intact Financial Corporation (Intact). The company plans to use the net proceeds from the offering towa...
Moody’s rates Intact Financial Corporation’s senior unsecured notes Ba...
Company issuing $400 million of medium term notes Toronto , September 11, 2023 – Moody's Investors Service (Moody's) has assigned a Baa1 rating to CAD400 million of senior unsecured notes due September 2054 to be issued by Intact Financial Corporation (Intact). The company plans to use the net proce...
- Carl De Souza
- Komal Rizvi
- Marcos Alvarez
Can Limited Recourse Capital Notes Be Wiped Out in Canada à la Credit ...
DBRS Morningstar published a commentary discussing the differences between the limited recourse capital notes (LRCNs) issued by Canadian banks and insurance companies and the AT1 notes issued by Credit Suisse. The commentary explains why Canadian LRCNs will not function in the same manner as the Credit Suisse AT1s in a default scenario and what the implications are for investors. Key highlights include the following: -- LRCNs issued by Canadian financial institutions differ from the AT1s issue...
SLF. MANULIFE FINANCIAL CORPORATION
RY. GREAT-WEST LIFECO INC.
MFC. BANK NOVA SCOTIA PFD.
BNS. GREAT WEST LIFECO- PFD
BMO. ROYAL BANK OF CANADA 4.90% PFD. SERIES W
CM GREAT-WEST LIFECO PFD. SERIES H
NA BANK OF MONTREAL PFD.
GWO SUN LIFE FINANCIAL PFD. (CL A) SER. 2
BNS.PR.F BANK OF NOVA SCOTIA PFD.
GWO_ps MANULIFE FINANCIAL CORP
RY.PR.W CANADIAN WESTERN BANK PR C PFD.
CM_po BANK OF MONTREAL PR B PFD.
GWO.PR.H NATIONAL BANK OF CANADA PR X PFD.
BMO_pr TORONTO-DOMINION BANK C PFD.
SLF.PR.B EMPIRE LIFE INSURANCE CO NON CUM RATE RESET PFD REGISTERED SHS SERIES 1
SLF_ph BANK OF MONTREAL
BNS_pb BANK OF MONTREAL CL B SERIES 25 PFD.
BMO_py BANK OF MONTREAL CL B SERIES 10 PFD.
NA.PR.W BANK OF MONTREAL- PFD
MFC_pl ROYAL BANK OF CANADA PFD.
CWB.PR.C ROYAL BANK OF CANADA 1ST PFD.
BMO.PR.B ROYAL BANK OF CANADA 1ST PFD. SERIES AE
NA.PR.X ROYAL BANK OF CANADA PFD. H
TD_pfc ROYAL BANK OF CANADA- PFD
EML.PR.A ROYAL BANK CANADA MONTREAL QUEBEC PR J PFD.
IFC ROYAL BANK PR M PFD.
LB ROYAL BANK PR P PFD.
CWB ROYAL BANK PR Q PFD.
ROYAL BANK OF CANADA - PREF SHARE
BMO.PR.Q NATIONAL BANK OF CANADA PFD. SERIES 15
BMO.PR.A NATIONAL BANK OF CANADA- PFD
BMO_ps NATIONAL BNK CAN PFD.
RY.PR.A LAURENTIAN BANK OF CANADA
RY.PR.C LAURENTIAN PR J PFD.
RY.PR.E CANADIAN IMPERIAL BANK OF COMMERCE CL A
RY.PR.F CANADIAN IMPERIAL BANK OF COMMERCE SERIES 32 PFD.
RY_pz CANADIAN IMPERIAL BANK OF COMMERCE PFD. CL A
RY_pj TORONTO DOMINION PFD.
RY_pm TORONTO-DOMINION BANK D PFD.
RY_pp TORONTO DOMINION BANK
RY_pq TORONTO-DOMINI PFD.
RYPRT CANADIAN WESTERN BANK PR B PFD.
RY/TO BANK OF NOVA SCOTIA PRD PFD.
NA.PR.K BANK OF NOVA SCOTIA 5-YEAR PFD. SERIES 30
NA_ps BANK OF NOVA SCOTIA 5-YEAR PFD. SERIES 32
NA.PR.A BANK OF NOVA SCOTIA PR G PFD.
LB_ph INTACT FINANCIAL CORP PFD.
LB.PR.J INTACT FINANCIAL CORPORATION
CM_pq GREAT-WEST LIFECO INC. 5.9% 1ST PFD. SERIES F
TD.PF.B GREAT-WEST LIFECO INC. 5.2% PFD.
TD_pfd GREAT-WEST LIFECO
TD_pfe GREAT-WEST LIFECO INC. 5.65% 1ST PFD.
TD.PF.H GREAT-WEST LIFECO INC. 5.8% 1ST PFD.
CWB_pb GREAT-WEST LIFECO INC. PFD. N
CWB-W GREAT-WEST LIFECO INC PFD.
CBWBF MANULIFE FINANCIAL CL A PFD. SERIES 2
BNS_pd MANULIFE FINANCIAL 4.5% PFD. CL A SERIES 3
BNS.PR.Y MANULIFE FINANCIAL PRF P PFD.
BNS.PR.Z MANULIFE FINANCIAL CORP. CL 1 SERIES 3 PFD F
BNS.PR.G MANULIFE FINANCIAL CORP PFD.
IFC_pa MANULIFE FI PR N PFD.
IFC_pc MANULIFE FIN PR O PFD.
IIC SUN LIFE FINANCIAL (CL A) PFD. SERIES 1
IIC/LV SUN LIFE FINANCIAL CL A PFD. SERIES 3
GWO.PR.F SUN LIFE FINANCIAL INC. CL A PFD. SERIES 4
GWO.PR.G SUN LIFE FINANCIAL INC. CL A PFD. SERIES 5
GWO.PR.I SUN LIFE FINANCIAL INC PFD.
GWO.PR.L EMPIRE LIFE INSURANCE COMPANY
GWO.PR.M THE
GWO.PR.N CANADIAN WESTERN BANK PFD SERIES 9
GWO_pp GREAT WEST LIFECO SERIES T
GWO.P.Q BANK OF MONTREAL SERIES 44 CLASS B
GWO_pr NATIONAL BANK OF CANADA PFD SERIES 40
GWLIF TORONTO-DOMINION BANK
MFC.PR.B CANADIAN WESTERN BANK
MFC.PR.C ROYAL BANK OF CANADA
MFC.PR.P NATIONAL BANK OF CANADA
MFC.PR.F BANK OF NOVA SCOTIA
MFC_ph CANADIAN IMPERIAL BANK OF COMMERCE
- Marcos Alvarez
- Nadja Dreff
Moody’s rates Intact’s CAD300 million limited recourse capital note at...
Toronto , March 1, 2023 – Moody's Investors Service ("Moody's") has assigned a Baa3(hyb) rating to CAD300 million of Intact Financial Corporation's (Intact) limited recourse capital note (subordinated note). The assigned rating is aligned with the rating level at which Moody's would rate the securit...
- Marcos Alvarez
- Nadja Dreff
Moody’s rates Intact’s CAD300 million limited recourse capital note at...
Toronto , March 1, 202 – Moody's Investors Service ("Moody's") has assigned a Baa3(hyb) rating to CAD300 million of Intact Financial Corporation's (Intact) limited recourse capital note (subordinated note). The assigned rating is aligned with the rating level at which Moody's would rate the securiti...
- Marcos Alvarez
- Michael Driscoll
Canadian Insurance Debt Issuances More Than Halved in 2022 but Expecte...
DBRS Morningstar published a commentary discussing the drivers of the significant slowdown in Canadian insurance debt issuances in 2022 following record issuances in 2020 and 2021. The commentary also discusses the prospects for 2023, which we expect to be moderately more active in terms of debt issuances as Canadian insurers re-enter the market to continue with their acquisition plans and refinance maturing instruments. Key highlights include the following: -- Canadian insurance companies iss...
GWO GREAT-WEST LIFECO INC.
FFH FAIRFAX FINANCIAL HOLDINGS LIMITED
GWO_ps GREAT WEST LIFECO- PFD
GWO.PR.H GREAT-WEST LIFECO PFD. SERIES H
MFC_pl MANULIFE FINANCIAL CORP
IFC FAIRFAX FINANCIAL HOLDINGS LTD PFD.
FFH_pk. FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES C
FRFZF FAIRFAX FINANCIAL HOLDINGS PR D PFD.
FFH_pd FAIRFAX FINANCIAL PFD F
FFH.PR.F FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES E
FFH.PR.E FAIRFAX FINANCIAL HOLDINGS PR H PFD.
FFH_ph FAIRFAX FINANCIAL HOLDINGS LTD
FAXRF FAIRFAX FIN PR J PFD.
FFH_pj FAIRFAX FIN PR M PFD.
FRFXF INTACT FINANCIAL CORP PFD.
FFH_pm INTACT FINANCIAL CORPORATION
FFH/SV GREAT-WEST LIFECO INC. 5.9% 1ST PFD. SERIES F
160570Z GREAT-WEST LIFECO INC. 5.2% PFD.
IFC_pa GREAT-WEST LIFECO
IFC_pc GREAT-WEST LIFECO INC. 5.65% 1ST PFD.
IIC GREAT-WEST LIFECO INC. 5.8% 1ST PFD.
IIC/LV GREAT-WEST LIFECO INC. PFD. N
GWO.PR.F GREAT-WEST LIFECO INC PFD.
GWO.PR.G MANULIFE FINANCIAL CL A PFD. SERIES 2
GWO.PR.I MANULIFE FINANCIAL 4.5% PFD. CL A SERIES 3
GWO.PR.L MANULIFE FINANCIAL PRF P PFD.
GWO.PR.M MANULIFE FINANCIAL CORP. CL 1 SERIES 3 PFD F
GWO.PR.N MANULIFE FINANCIAL CORP PFD.
GWO_pp MANULIFE FI PR N PFD.
GWO.P.Q MANULIFE FIN PR O PFD.
GWO_pr GREAT WEST LIFECO SERIES T
- Marcos Alvarez
- Nadja Dreff
Intact's Q3 2022 Underwriting Income Minimally Affected By Hurricane L...
Intact Financial Corporation reported net income of $370 million, slightly higher than the same quarter a year ago. Unrealized marked-to-market losses arising from financial market volatility led to an other comprehensive income loss of $527 million, but higher interest rates contributed to an increase in interest income to $159 million, from $123 million reported during the same quarter last year.
Moody’s rates Intact Financial Corporation’s senior unsecured notes Ba...
Company issuing $500 million of 10-year notes Toronto , September 15, 2022 – Moody's Investors Service has assigned a Baa1 rating to $500 million of 10-year senior unsecured debt to be issued by Intact Financial Corporation (Intact). The company plans to use net proceeds from the offering to repay $...
- Marcos Alvarez
- Nadja Dreff
Intact Financial Corporation: Higher Interest Rates Contribute to Lowe...
Intact Financial Corporation reported net income of $447 million, down from $514 million in Q1 2021, despite having a boost to earnings from the RSA Insurance Group Plc (RSA) acquisition that is included in this quarter's result. The lower income was in part attributable to higher interest rates that led to mark-to-market losses on fixed income instruments.
- Elisabeth Rudman
- Marcos Alvarez
Canadian Insurance Debt Issuance: Strong in 2021 but Likely to Wane in...
Canadian insurance debt issuance in 2021 decreased 10% compared with 2020 levels but remained well above historical averages for the industry. Canadian insurance companies issued almost $12 billion in bonds and preferred shares in 2021, supporting our view that the industry continues to benefit from strong access to funding, particularly for large international acquisitions. However, insurance debt issuances are likely to temper in 2022. Key highlights include: -- Canadian insurance companies ...
GWO GREAT-WEST LIFECO INC.
GWO_ps GREAT WEST LIFECO- PFD
GWO.PR.H GREAT-WEST LIFECO PFD. SERIES H
SLF.PR.B SUN LIFE FINANCIAL PFD. (CL A) SER. 2
SLF_ph INTACT FINANCIAL CORP PFD.
IFC INTACT FINANCIAL CORPORATION
IFC_pa GREAT-WEST LIFECO INC. 5.9% 1ST PFD. SERIES F
IFC_pc GREAT-WEST LIFECO INC. 5.2% PFD.
IIC GREAT-WEST LIFECO
IIC/LV GREAT-WEST LIFECO INC. 5.65% 1ST PFD.
GWO.PR.F GREAT-WEST LIFECO INC. 5.8% 1ST PFD.
GWO.PR.G GREAT-WEST LIFECO INC. PFD. N
GWO.PR.I GREAT-WEST LIFECO INC PFD.
GWO.PR.L SUN LIFE FINANCIAL (CL A) PFD. SERIES 1
GWO.PR.M SUN LIFE FINANCIAL CL A PFD. SERIES 3
GWO.PR.N SUN LIFE FINANCIAL INC. CL A PFD. SERIES 4
GWO_pp SUN LIFE FINANCIAL INC. CL A PFD. SERIES 5
GWO.P.Q SUN LIFE FINANCIAL INC PFD.
GWO_pr GREAT WEST LIFECO SERIES T
- Marcos Alvarez
- Nadja Dreff
Intact Financial Corporation Reports Very Strong Q4 2021 Results Despi...
Intact Financial Corporation reported very strong Q4 2021 net income of $701 million, including the contribution from RSA Insurance Group plc., amounting to an 85% increase relative to the pre-acquisition Q4 2020 net income despite deterioration in the combined ratio. For 2021, net income nearly doubled to more than $2 billion.
- Marcos Alvarez
- Patrick Douville
Cost of December Tornado Outbreak Expected to Be Within Historical Ran...
Multiple U.S. states experienced a series of deadly tornadoes on December 10 with early reports indicating substantial property damage. While severe, this event is expected to produce insured losses within historical levels for the U.S. property and casualty (P&C) insurance industry, which is sufficiently prepared to cover these claims without significant capital impact. Overall, we expect that P&C insurers with substantial business in the affected states will incur a moderate earnings impact. ...
IFC FAIRFAX FINANCIAL HOLDINGS LTD PFD.
FFH_pk. FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES C
FRFZF FAIRFAX FINANCIAL HOLDINGS PR D PFD.
FFH_pd FAIRFAX FINANCIAL PFD F
FFH.PR.F FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES E
FFH.PR.E FAIRFAX FINANCIAL HOLDINGS PR H PFD.
FFH_ph FAIRFAX FINANCIAL HOLDINGS LTD
FAXRF FAIRFAX FIN PR J PFD.
FFH_pj FAIRFAX FIN PR M PFD.
FRFXF INTACT FINANCIAL CORP PFD.
FFH_pm INTACT FINANCIAL CORPORATION
- Marcos Alvarez
- Nadja Dreff
Intact Financial Corporation Q3 2021 Earnings Reflect Mixed Impact of ...
In Q3 2021, Intact Financial Corporation reported net income of $300 million, a decrease of 10% relative to Q3 2020, despite a 26% gain in operating income that benefitted from the RSA acquisition completed on June 1, 2021. Net income was lower as a result of higher non-operating costs, including those related to the RSA acquisition but also reflecting losses from a venture investment.
- Michael Driscoll
- Victor Adesanya
- Marcos Alvarez
- Nadja Dreff
- Victor Adesanya
Intact Financial Corporation Posts Strong Q2 2021 Following RSA Acquis...
Intact Financial Corporation (Intact or the Company) reported excellent Q2 2021 net income of $573 million, an increase of 118% relative to Q2 2020 driven primarily by the RSA acquisition and an improved underwriting performance. Positively, even when excluding the impact of the acquisition, organic revenue growth was strong in both Canada and the U.S.
- Marcos Alvarez
- Victor Adesanya
Intact and Tryg Complete Their Acquisition of RSA Group
On June 1, 2021, Intact Financial Corporation (Intact) announced the successful completion of its joint bid with Tryg A/S (Tryg), a Scandinavian insurance company, to acquire RSA Insurance Group plc for a total cash consideration of approximately GBP 7.2 billion (CAD 12.3 billion). This acquisition further strengthens Intact's franchise by positioning the Company as a strong multijurisdictional property and casualty insurer.
Moody’s rates Intact Financial’s senior notes Baa1
Toronto , May 13, 2021 – Moody's Investors Service, ("Moody's") has assigned a Baa1 rating to CAD200 million of senior unsecured notes due 2054, CAD350 million of senior unsecured notes due 2028 and CAD350 million of senior unsecured notes due 2024 being issued by Intact Financial Corporation (I...
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