Dear Investment Team,

Hello gentlemen. I have been looking into some more interesting companies lately and I think we should look closely at Intact Financial Corporation (IFC) in Canada. They have a debt to equity of 25% and they recently closed a private placement for 500 million in debt 250 million dollars a piece at 3.5% unsecured due 2038 and 5.25% limited recourse notes due 2086. From what I can gather they have a combined service ratio of 85.6% where as the canadian industry standard is 92.3%. Thats a comfortable premium. Interest rates souldn't be a problem because they are already elevated and IFC is fairing well. Furthermore they trade with a historical pe ratio of 21 and they are currently trading at a pe ratio of 14. They have a presence in the UK and America with America having the smaller share of business. But they are expanding and that is good news. I don't think IFC is much of a gamble and with the current instability in America and the world think the price will only come down. Anyways, look into it if you have time. I don't know... Contact me

Sincerely,

King Henry Oliver George of Britain