Intact Financial Corporation (IFC) executive vice president and chief financial officer Louis Marcotte (pictured above) will step down from his role after the company’s 2024 Q4 earnings are released on Feb. 13, 2025, the insurer announced Wednesday.
Marcotte will remain with Canada’s largest insurer as IFC vice chair. In that role, his main mandate will be to support the development of IFC’s European operations within its global specialty lines business.
Ken Anderson, currently executive vice president and chief financial officer for RSA UK & Ireland, will succeed Marcotte as EVP and CFO.
“I want to thank Louis for his dedicated service to Intact over the past 18 years and for his significant contributions to our strategy and growth,” IFC CEO Charles Brindamour says in a press release. “During his tenure as CFO, IFC’s market cap tripled to $47 billion on the back of double-digit growth in operating earnings and nearly 700 [basis points] of ROE outperformance.
“Louis was instrumental in the financing of all our acquisitions during his tenure and he kept our organization focused on financial performance and discipline, both of which helped IFC transform into a leading global P&C company. I am grateful he will continue to lend his leadership and expertise to IFC.”
For his part, Anderson (pictured below) has been with Intact for 17 years. To his new role, he brings a wealth of experience in treasury, corporate development, investor relations, and financial reporting, Intact says.
Ken Anderson will become Intact’s executive vice president and chief financial officer in February 2025.
“Among his achievements is the integral role he played in the structuring and coordination of the RSA acquisition, Intact’s largest transaction to date.”
Brindamour says Anderson is the “natural choice” to be IFC’s next CFO, having worked alongside Louis for more than a decade.
“His extensive experience in our business and deep understanding of our strategy make him the ideal successor,” Brindamour says. “I am confident that with Ken as our CFO, our financial foundations will remain strong, enabling continued growth and outperformance.”
