Intact Financial (IFC.TO)

(A Top Pick May 3/13. Up 11.09%.) They have size in scale advantage being the dominant insurer for home, auto and personal property in Ontario. Been under a little bit of pressure because of ice storms. Feels there are a lot of consolidation opportunities. Good growth story and is very defensive. Not inexpensive at 2X BV but they do have an 18% ROE, which is very good. 2.88% dividend yield.

Personal and commercial insurance. Took a beating in 2013 as its profitability was really crimped by the flooding in Alberta and the summer storms in Ontario. Sees profitability picking up sharply in 2014 and 2015. Very well-positioned in a rapidly consolidating industry. Mid-$70s in 12 months is certainly realistic.

(Top Pick May 15/12, Up 16.7%) Had some unknowns about rates in Ontario, and then there were the disasters across the country. Stock is up, but does not feel it is fully valued. Great dividend and dividend payout ratio. 10-11 times earnings. Good consolidator. Can grow by acquisition. Will likely grow premiums due to catastrophic losses. The Calgary flooding is behind them. A market leader.

(A Top Pick Nov 12/12. Up 5.51%.) Property and casualty insurance. Continues to be one of the very few properties/casualty that actually writes profitable insurance business. Very strong underwriting discipline. Good dividend yield. Should do a lot better.

(Market Call Minute.) Being in that part of the insurance industry is much better than being in the life side.

Solid company and a great way to play P&C insurance in Ontario. Recent sell off is people questioning what the impact of flooding in Calgary is going to be. It will be minimal to them. It will not impact their earnings power. There may be more issues to get through in Ontario auto.

Likes the company. They have been growing nicely. They were hit by the Alberta floods and that has been affecting the stock in the short term. Held up well as rates were coming down. Their liabilities are much more short term focused. They buy shorter term bonds so have less risk on the long term interest rate environment.

(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.