Intact Financial Corporation announced T. Michael Miller will retire from his current role as global specialty lines CEO, effective Mar. 31, 2025, after 44 years in the industry.
Emmanuel Clarke will step down from his current role as a corporate director at IFC and chairman of its GSL advisory board to succeed him.
Clarke has served on several insurance-related boards over the past few years, including as a board member of Intact. As an Intact board member, he advises “executives, investors, and founders on how best to accelerate growth across the insurance value chain.”
Clarke has many years of industry and leadership experience, having served as president and CEO of global reinsurer PartnerRe from 2015 to 2020.
“As a board member, Emmanuel has already made strong contributions to our specialty business,” IFC CEO Charles Brindamour said in a press release. “I look forward to working with him as CEO GSL as we continue to pursue our objective of $10 billion in direct premiums written by 2030 at a sustained sub-90s combined ratio.”
In his retirement, Miller will serve as chairman of IFC’s global specialty lines (GSL) and will be appointed as an IFC director. He first joined Intact in 2017, when Intact acquired OneBeacon Insurance, where Miller worked for 13 years.
Regarding Miller, Brindamour says: “Mike has been a valued member of our senior leadership team [and his] impact has been felt beyond specialty lines…I am grateful for his many contributions and that we will be able to continue to tap into his expertise and insights as chairman of GSL and a member of our board.”
Canadian Underwriter has previously cited Brindamour as saying IFC has established a “truly global platform” that can now reach 70% of the global specialty solutions market with the expertise it has on board.
“The thing that I like about the position we’re in at this stage is we can grow in the markets where we are,” Brindamour said of the company’s 2021 Q4 results during a conference call.
“We don’t need to expand from a geographic point of view because we have all the tools in the toolbox, which means greater focus, greater depth, greater scale.”
Feature image by iStock.com/Tippapatt
