By Adriano Marchese


Intact Financial Corp. said Wednesday that it intends to launch a share-repurchase program to buy back up to 3% of its public float over the course of the next year.

The Canadian insurer said that the Toronto Stock Exchange approved its plan to buy back up to 5.3 million common shares.

At Tuesday's closing price of 199.17 Canadian dollars (US$149.33), the shares would be worth about C$1.05 billion. The shares have risen about 2.2% in 2023 so far, and about 8.3% in the past 12 months.

Intact Financial will begin buying back shares on Feb. 17 and the program will run until no later than Feb. 16 of next year.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

02-15-23 0826ET