When you start investing in the stock market, flashy, high-growth stocks might look attractive to beginner investors excited to make big money. However, high-growth stocks are a double-edged sword and carry higher risk. Whether you are new or seasoned, it is important to understand that success as a stock market investor is always in the long game.

Many investors learned this the hard way when they began flocking to tech stocks amid the pandemic-fueled boom. However, the market normalized, and the tech bubble popped to bring the biggest names down to more reasonable valuations and wipe away millions from the stock market.

Experienced investors know it's always better to create a well-balanced portfolio. While it might have a portion of high-growth stocks to accelerate growth, the stock of well-established and boring companies is there to offset the risk. As such, identifying and investing in industry-leading stocks from reliable sectors of the economy can be a great approach.

Today, we will look at a leading player in the Canadian insurance industry, Intact Financial (TSX:IFC), to help you determine if it's a good pick for your portfolio.

Intact Financial

Intact Financial is a $44.92 billion market capitalization multinational property and casualty (P&C) insurance company headquartered in Toronto. While it might not be the largest insurance stock in Canada, it is undoubtedly a leader in the P&C space.

P&C insurance is a more dynamic space than the life insurance market, evidenced by the performance of Intact Financial compared to its peers in life insurance throughout the years.

Intact Financial has one of the most consistent and rewarding growth track records among Canadian insurance stocks. As of this writing, IFC stock trades for $251.84 per share. Up by 91.78% in the last five years.

It is also a Canadian Dividend Aristocrat with an 18-year streak of increasing payouts to investors. While it has a meagre 1.92% dividend yield, it has a solid record of increasing payouts annually.

The stock is a resilient one, as shown during the stock market crash caused by the pandemic. While it fell hard, IFC stock recovered to pre-pandemic levels within a year. After the current rally, it is hovering close to its latest all-time highs. Considering that it is near the highest levels it has ever been, investors might want to be a little careful about investing in its shares.

A pullback might be on the cards, depending on whether the broader market can sustain the current rally. However, it can still be a solid long-term bet for investors interested in insurance stocks.

Foolish takeaway

While not without the risk of significant short-term volatility during harsh economic environments, industry-leading stocks tend to provide better returns to investors. Even during weakness, some high-quality stocks become excellent opportunities for savvier investors.

When market pullbacks happen, investors can buy shares of these top-notch companies at lower valuations. This lets investors leverage significant wealth growth when the stock recovers to better valuations and lock in higher-than-usual dividend yields. To this end, Intact Financial can be a solid investment to consider.