Intact Insurance to Amalgamate with Guarantee

Summary#

Intact Insurance Company and The Guarantee Company of North America say they plan to apply to the Minister of Finance to merge into a single company. The application would be made on or after August 31, 2020, and the proposed effective date is April 1, 2021. The merged company would be named Intact Insurance Company (English) / Intact Compagnie d’assurance (French) and have its head office in Toronto, Ontario.

What it does#

• Announces an intention to apply for letters patent of amalgamation under the Insurance Companies Act (Canada).
• If approved, the two companies would continue as one company with the name Intact Insurance Company / Intact Compagnie d’assurance.
• Sets the planned filing date for the application as August 31, 2020 (or later).
• Gives a proposed effective date for the amalgamation of April 1, 2021, or another date set in the letters patent.
• Notes the head office for the merged company would be in Toronto, Ontario.

Who's affected#

• Customers and policyholders of Intact Insurance Company and The Guarantee Company of North America.
• Employees, agents, brokers, and businesses that work with either company.
• The notice does not say how individual policies, claims, or staff roles will change, so exact impacts are unclear.

Why it matters#

• If approved, two insurance firms would become one legal entity, which can affect who handles your policy, claims, or customer service.
• The change still needs federal approval, so nothing is final yet.
• People with business or policies with either company should watch for follow-up notices about any practical changes after the merger is approved.