05:08 PM EST, 01/22/2025 (MT Newswires) -- Intact Financial ( IFCZF ) on Wednesday said Michael Miller is retiring as chief executive of the property and casualty insurer's Global Specialty Lines (GSL), on March 31, and will then serve as its chair.

Miller will be replaced by Emmanuel Clarke, currently a company director and chair of the GSL advisory board.

"As a board member, Emmanuel has already made strong contributions to our specialty business. He is highly engaged and energized by opportunities. 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," chief executive Charles Brindamour said in a statement.

Intact shares closed up $1.94 to $258.07 on the Toronto Stock Exchange.