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

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

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