Intact Financial Corporation to acquire leading specialty insurer The Guarantee Company of North America and Frank Cowan Company Limited

News Release
August 15, 2019

TORONTO, Aug. 15, 2019 - Intact Financial Corporation (TSX: IFC) ("Intact" or the "Company") announced today that it has entered into a definitive agreement with Princeton Holdings Limited ("Princeton Holdings") to acquire The Guarantee Company of North America ("The Guarantee"), a specialty lines insurer in Canada and the U.S., and Frank Cowan Company Limited ("Frank Cowan"), a managing general agent ("MGA") focused on specialty insurance for a cash consideration of approximately $1 billion. The transaction is expected to close in the fourth quarter of 2019, subject to regulatory approvals.

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