Delivering sustainable growth
In 2016, Intact delivered strong results and demonstrated resiliency in the face of unprecedented catastrophe losses in Canada – remaining focused on its strategy and executing plans with a disciplined approach. Canada is experiencing change at a record pace, giving rise to the need to adapt faster and respond to disruption. While this is not unique to the insurance industry, Intact is focused on leading through industry disruption and building long-term growth through the stewardship of the Board.
Maintaining diligence in a competitive marketplace will be fundamental to delivering sustainable long-term growth. Through enhanced risk selection, segmentation and leveraging data analytics, the Board is confident that Intact is well positioned to deliver products and services that meet the needs of customers today and in the future.
In addition to providing guidance on the overall strategy, the Board participated in discussions regarding the Company’s diversity and people strategy. Through the leadership of Charles Brindamour and the management team, Intact became a member of the 30% Club, a membership that reinforces a commitment to gender diversity at the senior-most levels of the organization and on the Board. Today 33.9% of the roles in the management team (Vice President and higher) are held by women, and 33.3% at the Board level (with an expectation to reach 41.6% in 2017). It should also be noted that beyond gender diversity, 14.8% of employees at Intact self-identify as belonging to a visible minority. Employees and management should be proud of their commitment to diversity and the tremendous value it brings to the organization.
During the year, the Board continued its review and renewal of governance best practices. This effort and Intact’s continued drive to be one of the most respected companies in Canada are paying off. The Globe and Mail’s 2016 Board Games awarded Intact with top marks for good governance, ranking Intact second (tied) out of 231 companies, up from fifth position in 2015.
Additionally, for the first time, Intact was presented with the prestigious Award of Excellence in electronic disclosure, and also received an honourable mention in the financial reporting category at the CPA Canada’s corporate reporting awards, a national program that showcases the best corporate reporting models in the country.
On behalf of my colleagues, I would like to thank Intact’s employees for their continued dedication and hard work. Their unwavering commitment to deliver a customer experience that is second to none is what sets Intact apart. I would also like to thank the management team for their leadership, and customers and shareholders for their continued support.
Claude Dussault Chairman of the Board