Intact inks £520mn deal for Direct Line’s commercial unit, exploring options for personal lines
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn

© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.


Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Cookies Settings

Intact inks £520mn deal for Direct Line’s commercial unit, exploring options for personal lines

Thorsten Schier
September 06, 2023
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
Intact logo Toronto CA.jpg

Canada’s Intact is buying UK insurer Direct Line’s commercial lines business for an initial cash consideration of £520mn ($650.3mn) and a potential further £30mn earnout payment.

The unit generated written premiums of £530mn in 2022 and had an average combined ratio of 96% across 2021 and 2022.

“This

Request a free trial:

Fuel a smarter strategy with our actionable market intelligence

    • Gain a competitive edge and accelerate decision-making
    • Be empowered by insights that transform confusion to clarity
    • Uncover growth opportunities and prepare for potential threats
Request a free trial Already a subscriber? Login now

Topics

NewsM&AIntact Financial
thorsten schier/thorsten schier II US.png
Thorsten Schier
Managing Editor
Contact
Gift this article