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THE BASE PROSPECTUS SHELF IS AVAILABLE AND THE SHELF PUBLIC OFFERING PROSPECTUS SUPPLEMENT AND ANY AMENDMENTS TO THE DOCUMENTS WILL BE AVAILABLE WITHIN TWO BUSINESS DAYS VIA SEDAR+
TORONTO, Nov. 06, 2025 (GLOBE NEWSWIRE) — Intact Financial Corporation (TSX: IFC) (“Intact” or the “Company”) today announced that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and National Bank Capital Markets pursuant to which the underwriters have agreed to purchase, in a treasury transaction, 6,000,000 non-cumulative shares of Class A Shares of the Series 13 (the “Series 13 Shares”) from intact condition for sale to the general public at a price of $25.00 per Series 13 Share (the “Offering Price”), representing aggregate gross proceeds of $150 million (the “Offering”).
Series 13 Shares will bear a yield of 5.50% per annum, payable quarterly as and when declared by the Company's Board of Directors. Series 13 shares are not redeemable until December 31, 2030. Commencing on and after December 31, 2030, Intact may, upon notice of no less than 30 days and no more than 60 days in advance, redeem for cash all or part of the Series 13 Shares, at Intact's election, at a price of $26.00 per Series 13 Share if purchased on or after December 31. 2030 and through December 31, 2031: $25.75 per Series 13 share if redeemed on or after December 31, 2031, $25.50 per Series 13 share if redeemed on or after December 31, 2032, and through December 31, 2033, $25.25 per Series Share 13 if redeemed on or after December 31, 2033 and before December 31, 2034, and $25 per Series 13 Share if redeemed on or after December 31, 2034, in each case together with all declared and unpaid dividends on such Series 13 Shares up to, but not excluding, the redemption date.
The offering is expected to close on November 12, 2025. The net proceeds are expected to be used by Intact for general corporate purposes.
The Series 13 Shares will be offered in each of the provinces and territories of Canada pursuant to a prospectus supplement (the “Prospectus Supplement”) to the Company's short form base shelf prospectus dated January 15, 2024 (the “Base Shelf Prospectus”).
The Series 13 Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws and may not be offered or sold in the United States or to or for the account or benefit of U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy Series 13 Shares in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
Access to the Prospectus Supplement, Base Prospectus and any amendments to the documents is provided in accordance with securities laws regarding procedures for providing access to the Prospectus Supplement, Base Prospectus and any amendments to the documents. The base prospectus and prospectus supplement will be available (within two business days from the date hereof) on SEDAR+ at www.sedarplus.com. An electronic or paper copy of the Prospectus Supplement, the Base Prospectus and any amendments to the documents may be obtained free of charge from BMO Capital Markets at the Brampton Distribution Center through Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 at (905) 791-3151 Ext. 4312 or by email: [email protected]and in the United States by contacting BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036 (Attn: Equity Syndicate) or National Bank Capital Markets at 130 King Street West, 4th Floor Podium, Toronto, Ontario, M5X 1J9, at (416) 869-8414 or email at [email protected], and in the United States by contacting 65 E. 55th St., 8th Floor, New York, New York 10022, providing the contact person with an email address or address, as applicable. Prospective investors should read the Base Shelf Prospectus and the Prospectus Supplement (upon filing) in their entirety before making an investment decision.
About Intact Financial Corporation
Intact Financial Corporation (TSX: IFC) is the largest provider of property and casualty (P&C) insurance in Canada, a leading specialty lines insurer with international experience, and a leader in commercial insurance in the UK and Ireland. The business grew organically and through acquisitions, with total annual direct operating premiums (DPW) of nearly $24 billion.
In Canada, Intact distributes insurance under the Intact Insurance brand through agencies and an extensive network of brokers, including its subsidiary BrokerLink. Intact also distributes products directly to consumers through the belairdirect brand and partnerships. Additionally, Intact provides exclusive and customized offers to high-net-worth clients through Intact Prestige.
In the United States, Intact Insurance Specialty Solutions provides a range of specialty insurance products and services through independent agencies, regional and national brokers, wholesalers and general management agencies.
In the UK, Ireland and Europe, Intact Insurance provides commercial and specialty insurance solutions through regional and national brokers, wholesalers and managing general agents. In Ireland, the company also provides personal insurance directly to customers through the 123.ie brand.
For more information contact:
Media inquiries:
Caroline Audet, Media and Public Relations Manager
416-227-7905 / 514-985-7165
[email protected]
Investor requests:
Jeff Kwan, Associate Senior Vice President of Finance and Chief Investor Relations Officer
1-866-440-8300 ext. 20022
[email protected]
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements included in this press release, including statements regarding the use of proceeds from the Offering, the timing of the prospectus supplement, the expected closing of the Offering or any other future events or developments, constitute forward-looking statements. The words “may,” “will,” “will,” “should,” “could,” “expect,” “plan,” “intend,” “trend,” “indicate,” “anticipate,” “believe,” “estimate,” “predict,” “likely,” “potential,” or the negative or other variations of these words or other similar or comparable words or phrases are intended to identify forward-looking statements. Unless otherwise stated, all forward-looking statements in this press release are made as of the date hereof and are subject to change after such date.
Forward-looking statements are based on estimates and assumptions made by management based on management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management believes are appropriate in the circumstances. Many factors could cause the Company's actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by forward-looking statements, including, without limitation, the timing and completion of the Offering. In addition to other estimates and assumptions that may be stated herein, estimates and assumptions have been made regarding, among other things, the expected closing of the Offering and the expected use of the net proceeds therefrom. However, completion of the Offering is subject to customary closing conditions, termination rights and other risks and uncertainties, and there can be no assurance that the Offering will be completed within the expected time frame or at all.
All forward-looking statements included in this press release are qualified by these cautionary statements as well as the statements made under “Risk Management” (Sections 25 and 28) included in IFC’s management’s discussion and analysis for the year ended December 31, 2024 and IFC’s Annual Information Form for the year ended December 31, 2024 and the statements made under “Risk Management” (Section 14) included in IFC's management's discussion and analysis for the year ended December 31, 2024. for the quarter ended September 30, 2025, all of which are available on the Company's website at www.intactfc.com and on SEDAR+ at www.sedarplus.com. These factors do not represent a complete list of factors that may affect the Company. However, these factors should be carefully considered. Although forward-looking statements are based on assumptions that management believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. Investors should not rely on forward-looking statements when making decisions, and investors should ensure that historical information is carefully considered when considering the forward-looking statements made in this press release. The Company does not intend and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
