Intact Financial Corporation Announces Leadership Changes

Date May 10, 2021

TORONTO, May 10, 2021 /CNW/ - Intact Financial Corporation (TSX: IFC) today announced the retirement of Mathieu Lamy, Executive Vice President & Chief Operating Officer, effective May 31. Mathieu Lamy will continue to stay closely involved with IFC in his new role as Vice Chair, Innovation and Technology, beginning September 1, 2021.

"Mathieu Lamy has been an incredible contributor at Intact for more than a decade," said Charles Brindamour, Chief Executive Officer, Intact Financial Corporation. "Having Mathieu among the leadership team helped us grow quickly over the years while maintaining strong financial and operational performance. In his role as Vice Chair, Innovation and Technology, Intact will continue to benefit from his guidance."

Patrick Barbeau, Senior Vice President, Claims, will assume the role of Executive Vice President & Chief Operating Officer effective May 31, 2021. With over 20 years at Intact, Patrick will draw on his experience managing large-scale teams, transforming the customer experience in claims, driving performance in personal lines and overseeing direct distribution marketing and operations.

"Patrick Barbeau knows the operations of Intact inside and out. More importantly, he has overseen and shaped our personal lines strategy as well as our claims operations – two pillars of our outperformance," said Mr. Brindamour. "Patrick is a strong people leader and is well known by the investment community and other industry stakeholders. We are excited to see what Patrick will bring to the table as COO of Intact."

About Intact Financial Corporation

Intact Financial Corporation is the largest provider of property and casualty (P&C) insurance in Canada and a leading provider of specialty insurance in North America, with over $12 billion in total annual premiums. The Company has over 16,000 employees who serve more than five million personal, business and public sector clients through offices in Canada and the U.S.

In Canada, Intact distributes insurance under the Intact Insurance brand through a wide network of brokers, including its wholly-owned subsidiary BrokerLink, and directly to consumers through belairdirect. Intact Public Entities, a Canadian Managing General Agent (MGA), distributes public entity insurance programs including risk and claims management services in Canada.

In the U.S., Intact Insurance Specialty Solutions provides a range of specialty insurance products and services through independent agencies, regional and national brokers, wholesalers and managing general agencies. Products are underwritten by the insurance company subsidiaries of Intact Insurance Group USA, LLC.

Forward-looking statements

Certain of the statements included in this press release about the Transaction or any other future events or developments constitute forward-looking statements. The words "may", "will", "would", "should", "could", "expects", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "predicts", "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 indicated, all forward-looking statements in this press release are made as of May 10, 2021 and are subject to change after that date.

All of the forward-looking statements included in this press release are qualified by these cautionary statements and those made in the section entitled Risk Management (Sections 28-33) of our MD&A for the year ended December 31, 2020. These factors are not intended to represent a complete list of the factors that could affect the Company. These factors should, however, be considered carefully. Although the forward-looking statements are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. Investors should not rely on forward-looking statements to make decisions, and investors should ensure the preceding information is carefully considered when reviewing forward-looking statements contained herein. The Company and management have no intention and undertake 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.

SOURCE Intact Financial Corporation

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