TORONTO, May 13 /CNW/ - Shareholders of ING Canada (TSX : IIC) approved
today at their annual and special meeting the change of the name of the
company to Intact Financial Corporation. On Tuesday, May 19, the company's TSX
symbol will be changed to "IFC".
The name change reflects the acquisition on February 19 by institutional
and retail investors of all the shares held by ING Groep in the company. As a
result of these transactions, ING Canada became an independent and widely-held
Canadian company, without any ties to its previous majority shareholder.
In his address to the annual and special meeting, Charles Brindamour,
President and CEO, thanked all the shareholders who made the transformation of
the company possible: "We deeply appreciate the support of our shareholders
who invested $2.2 billion in our company and we are committed to continue
delivering a strong performance."
According to Brindamour, "Our new name says it all. Intact is not only an
affirmation of a new corporate identity; it is a reflection of our promise to
get our customers back on track. As we proceed on our journey, we will
continue to take the company to new levels by taking full advantage of our
solid operating platform, our financial position and our strong team."
As a result of the name change, the company CUSIP number for its common
shares will be changed to 45823T106 and its ISIN to CA45823T1066.
About Intact Financial Corporation
Intact Financial Corporation, formerly known as ING Canada, is the
largest provider of property and casualty insurance in the country with over
$4 billion in premiums. Its 7,000 employees offer home, auto and business
insurance under the Intact Insurance, Novex Group Insurance, belairdirect and
Grey Power brands. On February 19, the company became a widely held Canadian
company following the completion of a private placement and a secondary
offering whereby institutional and retail investors acquired ING Groep's
shares in the company.
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