TORONTO, Oct. 14, 2020 /PRNewswire/ — Intact Financial Corporation (TSX: IFC) officially brings together its Canadian and U.S. specialty capabilities under a single brand: Intact Insurance Specialty Solutions. Unifying its specialty operations under one brand represents the full integration of this growing segment of Intact’s portfolio and its commitment to being a leader in the specialty lines marketplace.

“Our commitment to building a world-class specialty insurance provider takes an important step forward today as we bring the Intact brand to the U.S.,” said Charles Brindamour, Chief Executive Officer, Intact Financial Corporation. “We see strong future growth potential in our specialty lines business given our team’s expertise and our robust solutions for Canadian, cross-border and U.S. customers and brokers.”

The U.S. businesses had previously operated under the OneBeacon Insurance Group and The Guarantee Company of North America brands in the U.S., following the 2017 and 2019 acquisitions of these specialty companies, respectively. 

“This is an exciting day for us in the U.S. and our teams in Canada, as we officially move forward as Intact Insurance Specialty Solutions,” added Mike Miller, President, U.S. Operations and Intact Insurance Specialty Solutions. “The entire North American specialty team looks forward to continuing to provide our customers and brokers with our hallmark specialized products and services, backed by the strength of the Intact brand.”

The combined Intact Insurance Specialty Solutions brand features over 20 specialty focus areas, including nine that serve both Canadian and U.S. customers. It is a market-leading provider of certain lines of business, including being the sixth largest provider of surety bonds in North America.

Intact Insurance Specialty Solutions’ underwriting companies offer a broad range of specialty insurance products through independent agencies, regional and national brokers, wholesalers and managing general agencies throughout North America. Each business is

TORONTO, Oct. 14, 2020 /PRNewswire/ — Intact Financial Corporation (TSX: IFC) officially brings together its Canadian and U.S. specialty capabilities under a single brand: Intact Insurance Specialty Solutions. Unifying its specialty operations under one brand represents the full integration of this growing segment of Intact’s portfolio and its commitment to being a leader in the specialty lines marketplace.

“Our commitment to building a world-class specialty insurance provider takes an important step forward today as we bring the Intact brand to the U.S.,” said Charles Brindamour, Chief Executive Officer, Intact Financial Corporation. “We see strong future growth potential in our specialty lines business given our team’s expertise and our robust solutions for Canadian, cross-border and U.S. customers and brokers.”

The U.S. businesses had previously operated under the OneBeacon Insurance Group and The Guarantee Company of North America brands in the U.S., following the 2017 and 2019 acquisitions of these specialty companies, respectively. 

“This is an exciting day for us in the U.S. and our teams in Canada, as we officially move forward as Intact Insurance Specialty Solutions,” added Mike Miller, President, U.S. Operations and Intact Insurance Specialty Solutions. “The entire North American specialty team looks forward to continuing to provide our customers and brokers with our hallmark specialized products and services, backed by the strength of the Intact brand.”

The combined Intact Insurance Specialty Solutions brand features over 20 specialty focus areas, including nine that serve both Canadian and U.S. customers. It is a market-leading provider of certain lines of business, including being the sixth largest provider of surety bonds in North America.

Intact Insurance Specialty Solutions’ underwriting companies offer a broad range of specialty insurance products through independent agencies, regional and national brokers, wholesalers and managing general agencies throughout North America. Each business is

When Joseph Sullivan joined the Chicago Board of Trade in the late 1960s, he was a finance industry novice put in charge of a moonshot project to create the first marketplace for trading listed stock options.

A former Wall Street Journal political reporter, Sullivan worked tenaciously and eventually won over both industry skeptics and regulators at the Securities and Exchange Commission to launch the Chicago Board Options Exchange in 1973.

The CBOE, which spun off as a publicly traded company in 2010, grew into one of the world’s largest options exchanges and a staple of securities traders worldwide.

“He changed the face of American finance,” said Bill Brodsky, who served as CEO from 1997 to 2013.

Sullivan, who served as the inaugural president of the CBOE until 1979, died Oct. 2 at the age of 82 in Knoxville, Tenn., where he grew up and ultimately retired.

A Princeton University graduate, Sullivan earned a master’s degree in journalism from Columbia University and started his career in 1961 as a reporter for the Wall Street Journal in Atlanta. In 1963, he joined the newspaper’s Washington bureau, where he covered Congress for five years.

In 1968, Sullivan made a dramatic career change, going to work for the Board of Trade in Chicago, where he was put in charge of the options exchange project.

“It was a pie-in-the sky concept of trying to trade options on major U.S. stocks,” Brodsky said. “He had big hurdles to overcome.”

Patterned after the Board of Trade, the CBOE created standardized securities contracts — betting on the future price of IBM’s stock, for example — and a clearinghouse to act as intermediary between the option buyers and sellers. When it launched on April 26, 1973, the CBOE traded less than 1,000 contracts, Brodsky said.

The Chicago-based CBOE

Investors focused on the Finance space have likely heard of American Tower Corporation REIT (AMT), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AMT and the rest of the Finance group’s stocks.

American Tower Corporation REIT is one of 901 individual stocks in the Finance sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AMT is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for AMT’s full-year earnings has moved 0.35% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, AMT has gained about 6.47% so far this year. In comparison, Finance companies have returned an average of -13.39%. This shows that American Tower Corporation REIT is outperforming its peers so far this year.

Looking more specifically, AMT belongs to the REIT and Equity Trust – Other industry, a group that includes 119 individual stocks and currently sits at #213 in the Zacks Industry Rank. This group has lost an average of 2.82% so far this year, so AMT is performing better in this area.

Investors in the Finance sector will want to keep a close eye on AMT as it attempts to continue

Months in the making, a development with new homes, restaurants and stores will begin taking shape in North Richland Hills on vacant land where a shopping mall once stood.

Mehrdad Moayedi, president and CEO of Centurion American Development Group, and community leaders broke ground this week on the 52-acre City Point project on Grapevine Highway in Tarrant County.

The Dallas Morning News reported last fall that Moayedi’s firm was designing a residential and commercial project for the property, which also includes North Richland Hills’ new City Hall and a public safety and municipal court complex.

“We are excited to celebrate the next chapter in the life of this property,” Mayor Oscar Trevino said during the ceremony.

Centurion American’s plan includes 366 single-family homes, 400 to 600 multifamily units, parks and trails and 60,000 square feet of commercial development, according to the company. It will take around seven years to complete.

North Hills Mall closed in 2004 and was torn down three years later.

Trevino said North Richland Hills considered several developers, but Centurion American was chosen because of its financing plan and track record.

“We are proud to be here,” Moayedi said. “The way the council has treated us, we feel that we are on the way to getting it done in short order. We want to live up to our promises.”

Centurion American is one of the most active developers in North Texas. It is working on the redevelopment of Collin Creek Mall in Plano, a 2,000-plus-home community in Little Elm and a community in Anna with 1,000 homes and apartments. It also restored downtown Dallas’ landmark Statler Hotel.

The Fort Worth Star-Telegram (TNS) contributed to this story.

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