Feb. 10, 2011 (Canada NewsWire Group) --
TORONTO, Feb. 10 /CNW/ - Intact Financial Corporation (TSX : IFC) announced today that it has agreed to purchase for cancellation 1.5 million of its outstanding common shares pursuant to a private agreement between Intact and an arm's length third party seller for an aggregate purchase price of $69 million which is at a discount to the current market price of Intact's common shares. The purchase was made under an issuer bid exemption order issued by the Ontario Securities Commission. The purchased shares will be included in calculating the maximum number of shares that Intact may purchase under its outstanding normal course issuer bid.
About Intact Financial Corporation
Intact Financial Corporation (www.intactfc.com) is the largest provider of property and casualty insurance in the country with $4.5 billion in premiums. Its 7,500 employees offer home, auto and business insurance under the Intact Insurance, Novex Group Insurance, belairdirect and Grey Power brands.
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