TORONTO, Dec. 7, 2021 /CNW/ - Intact Financial Corporation (TSX: IFC) announced today that Ken Norgrove has been appointed to the role of RSA CEO, UK & International, effective January 10, 2022, subject to regulatory approval. Mr. Norgrove succeeds Scott Egan who will be leaving RSA at the end of 2021.
Ken Norgrove was most recently CEO of RSA Scandinavia from 2019 until deal completion in June 2021. Prior to that Ken was CEO of RSA Ireland and led the very successful turnaround of that business from 2014 to 2019.
Mr. Norgrove will report to Charles Brindamour, CEO Intact Financial Corporation and Mark Hodges, Chairman of the RSA UK & International Board. He will also sit on the IFC Operating Committee.
Charlotte Jones, RSA's Chief Financial Officer, will serve as Interim CEO until such a time as Mr. Norgrove's regulatory approvals have been received.
"I am pleased to welcome Ken Norgrove back to RSA as CEO UK & International as we build on the momentum of the last few years and set our sights on achieving sustainable outperformance," said Charles Brindamour, CEO, Intact Financial Corporation. "Ken brings an excellent knowledge of RSA and the insurance industry to his role and his passion for RSA and its success is very clear."
"I want to thank Scott Egan for his service to RSA over the last six years. Scott has done a tremendous job leading the turnaround of the UK&I business. He built a very strong team, and the performance of the business is much improved because of his leadership. We wish him all the best in his future endeavours."
"Finally, I want to extend my gratitude to Charlotte for her leadership of the business on an interim basis, which will ensure we finish 2021 strongly and maintain our momentum into 2022."
Mark Hodges commented: "Ken is well known and respected in the market and by the team and I'm delighted to welcome him to the Board. He is coming back to RSA at a critical time as we chart our path to outperformance."
"I'd also like to thank Charlotte for her energy and exceptional commitment to RSA. She has been an instrumental part of our success in the last three years, and her support throughout the transition to new ownership is second to none."
"Scott's accomplishments in improving our performance over the last three years provide the foundation for this next phase of our development. On behalf of the Board, I'd like to thank him for his significant contribution to RSA and wish him well for his next challenge."
Mr. Norgrove's history with RSA dates back to 1986, including a four-year term in the UK where he set up and grew the very successful Global Renewable Energy Business. He also spent one year as a VP at Travelers Insurance and three years as CEO, Zurich General Insurance (Ireland) between 2010 and 2014 before re-joining RSA. Ken is a Chartered Insurer and fellow of the Chartered Insurance Institute (CII).
About Intact Financial Corporation
Intact Financial Corporation (TSX: IFC) is the largest provider of property and casualty (P&C) insurance in Canada, a leading provider of global specialty insurance, and, with RSA, a leader in the U.K. and Ireland. Our business has grown organically and through acquisitions to over $20 billion of total annual premiums.
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 also provides affinity insurance solutions through the Johnson Affinity Groups.
In the U.S., Intact Insurance Specialty Solutions provides a range of specialty insurance products and services through independent agencies, regional and national brokers, and wholesalers and managing general agencies.
Outside of North America, the Company provides personal, commercial and specialty insurance solutions across the U.K., Ireland, Europe and the Middle East through the RSA brands.
Certain statements made in this press release are forward-looking statements. These statements include, without limitation, statements relating to future management appointments and structure. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws.
Forward-looking statements are based on estimates and assumptions made by management based on management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management believes are appropriate in the circumstances. Many factors could cause the Company's actual results, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements. In the case of future management appointments and structure, these are subject to regulatory approval which may impact the expected outcome.
All of the forward-looking statements included in this press release are qualified by these cautionary statements and those made in the "Risk Management" sections of our Q2-2021 Management's Discussion and Analysis (Section 19), and of our 2020 Annual Management's Discussion and Analysis, in Notes 10 and 13 of our Consolidated Financial Statements for the year ended December 31, 2020 and in our Annual Information Form dated March 31, 2021, all of which are available on our web site at www.intactfc.com or on SEDAR at www.sedar.com. 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. When relying on forward-looking statements to make decisions, investors should ensure the preceding information is carefully considered. Undue reliance should not be placed on forward-looking statements made in this press release. The Company has no intention and undertakes 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.
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