The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

INTACT FINANCIAL CORPORATION AGREES TO PURCHASE 140,000 OF ITS SHARES

Tuesday, February 15, 2011

INTACT FINANCIAL CORPORATION AGREES TO PURCHASE 140,000 OF ITS SHARES17:58 EST Tuesday, February 15, 2011TORONTO, Feb. 15 /CNW/ - Intact Financial Corporation (TSX : IFC) announced today that it has agreed to purchase for cancellation 140,000 of its outstanding common shares pursuant to a private  agreement between Intact and an arm's length third party seller for an aggregate purchase price of $6.6 million which is at a discount to the current market price of Intact's common shares.  The purchase was made under an issuer bid exemption order issued by the Ontario Securities Commission.  The purchased shares will be included in calculating the maximum number of shares that Intact may purchase under its outstanding normal course issuer bid.About Intact Financial CorporationIntact Financial Corporation (www.intactfc.com) is the largest provider of property and casualty insurance in the country with $4.5 billion in premiums.  Its 7,500 employees offer home, auto and business insurance under the Intact Insurance, Novex Group Insurance, belairdirect and Grey Power brands.For further information: Media Inquiries: Gilles Gratton Vice President, Corporate Communications +1 (416) 217-7206 gilles.gratton@intact.netInvestor Inquiries: Dennis Westfall Director, Investor Relations +1 (416) 341-1464 ext. 45122 dennis.westfall@intact.net