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Canada's largest property-casualty insurer, also active in UK and international specialty insurance.
Canada's largest property-casualty insurer, also active in UK and international specialty insurance.
Sells insurance mostly through independent brokers, plus its own direct brands and BrokerLink, and earns underwriting profit plus income from investing premiums. Its shape has come from acquisitions, notably the 2021 purchase of RSA's Canadian, UK and international operations, bought jointly with Denmark's Tryg, and a US specialty-insurance business.
Moat: narrow (scale, distribution, brand). Largest Canadian P&C insurer with broad broker distribution and specialty-lines diversification.
Headquarters: Toronto, Canada · Founded: 2004 · Employees: 32,000
Size Intact Financial (IFC.TO) is a Canada Financials company (Specialty Insurance) with a market value of $34.7B, the 33rd largest of 420 Canada companies the cockpit tracks. Shares closed at C$276.00 on 6 Nov 2026.
Performance Over six months the shares gained 9.2%, against -3.7% for the median peer and +5.2% for the Canada market (cap-weighted) — highest of 16 in its peer set.
Growth Revenue grew 1.5% over the last twelve months (peer median +4.5%); the operating margin is 90.3% (peer median 16.1%).
Valuation It trades at 2.48× book value against a peer median of 1.11× (2nd most expensive of 16).
Price implies The share price implies a return on equity of about 8.7%; Intact Financial delivers 14.4%, so the price asks less than the business earns today.
Credit Intact Financial has 1 bond outstanding ($177M), rated A3 by the agencies and trading like BBB at a weighted spread of 126 bp.
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$30.2B | C$30.2B | C$29.1B | C$27.2B | C$27.1B |
| Revenue growth | — | +4% | +7% | 0% | — |
| Net income | C$3.00B | C$3.37B | C$2.30B | C$1.32B | C$2.45B |
| Free cash flow | C$3.35B | C$3.93B | C$2.96B | C$1.39B | C$3.25B |
| Capital expenditure | C$605M | C$457M | C$429M | C$458M | C$411M |
| Total debt | C$5.05B | C$5.25B | C$5.47B | C$5.74B | C$5.14B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Intact Financial IFC.TO | $34.7B | +9% | +2% | 14% | 2.48× | 8.7% |
| Fairfax Financial FFH.TO | $42.7B | +21% | -1% | 16% | 1.40× | 7.0% |
| Definity Financial DFY.TO | $6.47B | +14% | +35% | 12% | 2.13× | 7.6% |
| Aviva AV..L | $29.5B | +18% | +86% | 7% | 2.46× | 23.8% |
| Zurich Insurance ZURN.SW | $114B | +16% | +19% | 26% | 3.67× | 11.2% |
| Chubb CB | $139B | +15% | +6% | 15% | 1.91× | 9.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | IFC.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.6% | +2.9% | highest of 16 |
| 6-month return | +9.2% | -3.7% | highest of 16 |
| Return on equity | 14.4% | 12.0% | 7th highest of 16 |
| Price / book | 2.48× | 1.11× | 2nd most expensive of 16 |
| Trailing P/E | 16.9× | 9.3× | 2nd most expensive of 15 |
| ROE the price implies | 8.7% | 8.9% | 7th least demanding of 16 |
| ROE delivered | 14.4% | 12.0% | 7th highest of 16 |
| Bond spread | 126 bp | 123 bp | 5th tightest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Intact Financial IFC.TO | Canada | $34.7B | +9% | +2% | 14% | 2.48× | 8.7% | 14.4% |
| Fidelity National Financial, Inc. - FNF FNF | United States | $11.8B | -13% | +13% | 10% | 1.58× | 13.4% | 10.1% |
| Old Republic International ORI | United States | $9.50B | +1% | +11% | 18% | 1.62× | 10.4% | 17.9% |
| ICICI Lombard General Insurance ICICIGI.NS | India | $8.80B | -11% | +14% | 15% | 4.38× | 53.9% | 14.7% |
| First American Financial FAF | United States | $6.84B | -6% | +14% | 14% | 1.27× | 13.2% | 13.7% |
| General Insurance Corporation of India GICRE.NS | India | $6.37B | -14% | -1% | 9% | 0.60× | 8.9% | 9.1% |
| Essent ESNT | United States | $5.70B | 0% | +4% | 12% | 1.01× | 8.5% | 12.0% |
| Radian RDN | United States | $4.76B | -5% | +28% | 12% | 1.00× | 8.3% | 12.0% |
| Assured Guaranty AGO | United States | $3.23B | -2% | +3% | 6% | 0.58× | 6.0% | 6.3% |
| Coface COFA.PA | France | $2.65B | -4% | +1% | 9% | 1.11× | 8.8% | 9.4% |
| Stewart Information Services STC | United States | $1.43B | -33% | +21% | 8% | 0.86× | 9.0% | 7.7% |
| Trisura TSU.TO | Canada | $1,000M | -31% | +1% | 17% | 1.39× | 8.0% | 16.9% |
| Helia HLI.AX | Australia | $942M | +2% | -8% | 22% | 1.53× | 11.8% | 22.1% |
| Conduit CRE.L | United Kingdom | $895M | +2% | +4% | 20% | 0.79× | 7.6% | 19.9% |
| Tiptree TIPT | United States | $639M | +1% | -99% | -3% | 0.72× | 6.8% | -2.6% |
| Investors Title ITIC | United States | $484M | +8% | +9% | 15% | 1.69× | 11.3% | 14.6% |
Intact Financial has 1 bond outstanding with $177M face value. The agencies rate it A3; its bonds trade like BBB. Weighted yield 5.00%, a spread of 126 bp over government bonds.