Defensive insurer with improving balance sheet, added position
The author argues Intact Financial Corp is increasing its cash position while decreasing debt, which they view as a strengthening balance sheet. They acknowledge the last few quarters weren't particularly strong but express confidence in the long term. They characterize it as a solid defensive stock that is surprisingly unaffected by the trade war or oil prices, and they increased their position this week. The main stated risk is the recent weak quarterly results.