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

Thorsten Schier
September 06, 2023
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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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