- Member company of Intact Financial Corp. (IFC) has agreed to acquire Highland Insurance Solutions
- Highland is a managing agent specializing in the builders’ risk segment in construction
- The transaction will close later this year
- Highland will operate as a standalone managing general agent
- Intact Financial Corp. (IFC) is up 2.73 per cent and is trading at $177.18 per share as of 1:11 p.m. ET.
A member company of Intact Financial (IFC) has agreed to acquire Highland Insurance Solutions from Tokio Marine Kiln (TMK).
Highland is a managing general agent specializing in the builders’ risk segment of the construction market.
The Intact Financial subsidiary, Intact Insurance Group USA LLC, stated it is the largest provider of property and casualty insurance in Canada, and a leading provider of global specialty insurance.
The companies expect the transaction to close sometime later this year, subject to regulatory approval and the satisfaction of other closing conditions.
“The acquisition of Highland is well aligned with our global specialty lines strategy… Highland has established itself in providing specialized insurance and adds a complementary offering to the more than 20 specialty lines available to our brokers and customers,” T. Michael Miller, CEO of Global Specialty Lines Intact Financial, said.
Highland will operate as a standalone managing general agent, available to serve the risk management needs of its clients and broker partners through its current select markets, and now additionally though
“TMK is pleased that the Highland team is joining a company the calibre of Intact where they will be able to continue to build their business and maximize its potential,” Brad Irick, CEO of Tokio Marine Kiln, said.
Intact Financial Corp. (IFC) is up 2.73 per cent and is trading at $177.18 per share as of 1:11 p.m. ET.