Intact Financial (IFC-T)

It is in the insurance business, has made good acquisitions, and executes well.

Spectacularly well run. Only thing holding him back is the price, has to justify how he's going to get a good return. Hefty valuation, probably well deserved. He'd be interested at least 20% cheaper than today.

Super-high quality. Sold on peak levels. His thinking was, "How much better can it get?" Monitoring closely, and he'd get back in at a lower level.

There have been a lot of natural disasters this year, but IFC has still absorbed those, because they have strong capital and operating ratios. Still growth and trades at a high PE, though. How will self-driving cars impact insurance. That said, IFC has been a winner, a great growth stock.

Well managed company.
Challenges given all of the forest fires.
Lots of claims over the summer.
Hard to value company.
Inflation not worry given pricing power.
Wants to see how company performs through tough economic times.

Spectacular company that has performed well.
Currently insurance pricing not making up for losses. 
Tough period for the company at the moment, but will recover.
Will buy if share price falls.

Gold standard for P&C in Canada. Cost challenges, but policies renew annually at higher rates. Great, blue-chip, well-managed business. He owns DFY, as it's cheaper and growing faster.

Climate change is impacting the P&C insurance world, increasing claims and pressuring companies like this. Share have done well in the past 12 months, but he sees challenges ahead for this sector. Higher interest rates offer some relief to them. 

Well-run and has done well in recent years, but it needs to be cheaper before he buys it. P&C insurance is a good business to be in now.

Not interested in P&C insurance, and IFC shares are close to all-time highs. Not now.

Recently bought another PC insurer (see top picks) for its better valuation and wider international exposure, but Intact offers good exposure to this sector.

It is a very well run company and management has done a consistent job of gaining market share. It has no major large competitor in Canada. He would love to own it but it is now too expensive.

Up 34% in 3 years. He looks for book value. IFC trades at a big premium to that, because it  consistently makes money through investment earnings. They've made big recent acquisitions in Canada and the UK. 

Property & casualty company with strong presence in Canada.
Growing international market.
Positive aspect of business is premiums renew every year.
Premiums have been re-invested well.
Stock has performed very well.
Would recommend buying on weakness.