Intact Financial (IFC.TO)

(A Top Pick June 21/12. Up 2.15%.) Sold some of his holdings. The big issue is the recent proposal by the Ontario government to reduce auto insurance rates. If that passes, it will slow premium growth. Still a Hold.

The biggest property casualty in Canada, operates under a number of names. Has been hit recently because Ontario government has mandated lower insurance rates. Longer term is a good name to be but wait for it to bottom out.

Market leader in property and casualty business. Stock has been a bit weak lately because of the mandated Ontario auto premium reductions. Likely to earn around $6 a share this year. Payout ratio is about 30%, with a 2.8% dividend yeild. Management has been acquiring businesses, and are likely to continue doing so.

Big player in auto insurance along with home insurance and small business. That tie gives them a lot of growth drivers so they can manage their business. Have preferred vendor relationships with a lot of the car repair shops. Profitability is amongst the highest in auto insurers in Ontario. Dividend yield of 2.89%.

(A Top Pick June 21/12. Up 6.01%.) Cutting back a little bit because NDP in Ontario is pressuring the province to lower auto insurance rates by about 15%. The fear is that to avoid an election, the government will want to appease them. Still a Hold.

Feels property and casualty is a much better business than the lifecos. Well-run company. Price has pulled back so you could enter at this point. Has had a good run, so it may move sideways for a bit.

A different type of insurance company that tends to sell the type of product that the consumer HAS to have. Grows through organic and acquisition. 10% increase in dividend expected. Has clearly delivered in terms returns to shareholder. Would not be surprised to see another dividend increase a year from now.

Best managed property/casualty company in Canada but you have to be in for the long haul because you get weather events that just come out of the blue, giving volatility over time.

(Market Call Minute.) Great long-term company. Now the biggest P&C company in Canada. Best managed and a great investment team behind the P&C side.

(A Top Pick Dec 13/11. Up 11.08%.) Expect it will continue on. Probably another 10%-11% over the course of the next year. Quite an aggressive buyer of property/casualty companies, especially foreign subsidiaries in Canada.

The best in casualty insurance and they are making money in insurance, which is rare. Been very successful over the last 5 years, 2.5% dividend that has risen every year. A good place to be for the next couple of years.

Largest property/casualty insurer in Canada with a 17% share and a long-term objective of getting that up to 25%. Recently completed a couple of acquisitions that are going to be very accretive. Trading at less than 10X earnings. 2.6% dividend yield. Expecting it to get to $70 in 12 months.

(A Top Pick Sept 22/11. Up 11.67%.)

(A Top Pick Sept 16/11. Up 14.22%.) Still likes.

(Market Call Minute) Steady performer and they are consolidating the space.