ING Insurance Company of Canada will become Intact Insurance Company
ING Canada has announced that ING Insurance Company of Canada will become Intact Insurance Company and will operate under the Intact Insurance brand name.
ING said that the name change follows on the heels of the recent closing of a $2.2 billion private placement and secondary offering whereby institutional and retail investors acquired ING Groep’s ownership interest in ING Canada, transforming the Canadian subsidiary of the Dutch banking and insurance company into an independent Canadian-listed and widely held company.
ING Canada, the holding company, will be renamed Intact Financial later in May 2009, following the approval of the name change by its shareholders.
Charles Brindamour, president and CEO of ING Canada, said: By becoming a truly Canadian and independent organisation, we have the unique opportunity to launch a new brand that speaks to what consumers are looking for from an insurance company, and a brand that reinforces our customer orientation.
Louis Gagnon, president of Intact Insurance, said: Our new name is not about us, about our financial strength or about our leadership position in the industry. It is about our promise to our customers, helping them get back on track when an unforeseen event occurs.