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Intact Financial Corp T.IFC

Alternate Symbol(s):  IFCZF | T.IFC.PR.A | T.IFC.PR.C | INTAF | T.IFC.PR.E | INFFF | T.IFC.PR.F | T.IFC.PR.G | IFTPF | IFZZF | T.IFC.PR.I | T.IFC.PR.K

Intact Financial Corporation is a Canada-based company, which is a provider of property and casualty insurance. Its Canada segment is engaged in underwriting of automobile, home and business insurance contracts to individuals and businesses in Canada distributed through a network of brokers and directly to consumers. Its UK & International segment is engaged in underwriting of automobile, home, pet and business insurance contracts to businesses in the United Kingdom, Europe, and Ireland as well as internationally. It distributes insurance through a network of affinity partners and brokers, or directly to consumers. Its US segment is engaged in underwriting of speciality contracts, mainly to small to medium-sized businesses in the United States. It distributes insurance through independent agencies, brokers, wholesalers and managing general agencies. It also offers an app-based service that connects homeowners with local service professionals to provide various home maintenance tasks.


TSX:IFC - Post by User

Post by Betteryear2on Feb 08, 2022 5:22pm
208 Views
Post# 34410410

Intact Financial Corporation reports Q4-2021 results

Intact Financial Corporation reports Q4-2021 results

(in Canadian dollars except as otherwise noted)

Highlights

  • Net operating income per share of $3.78 in Q4-2021 and $12.41 for the full year increased 19% and 25%, respectively, driven by robust underwriting and distribution income, and meaningful accretion from RSA
  • EPS growth of 51% in the quarter and 72% in 2021 reflected strong operating results and investment gains
  • Operating DPWgrew 75% in the quarter and 45% in 2021, mainly due to RSA, with healthy organic growth in commercial lines
  • Operating combined ratio of 87.8% in Q4-2021 as strong underlying performance outweighed elevated catastrophe losses
  • OROE of 17.8% and ROE of 17.0%, with BVPS growth of 40% to $82.34
  • Quarterly dividend increased by 10% to $1.00 per common share and initiating share buyback program

TORONTOFeb. 8, 2022 /CNW/ - (TSX: IFC)

Charles Brindamour, Chief Executive Officer, said:

"We had a milestone year, successfully closing our largest acquisition to date, and delivering strong results for both the fourth quarter and full year. We achieved mid-teens organic growth in net operating income per share, while RSA delivered 12% accretion in the seven months since the transaction closed. The acquisition has clearly enhanced our leadership position in Canada, and we are focused on achieving outperformance in the UK&I. The RSA integration remains on track thanks to our people, who have shown extraordinary commitment in supporting our customers amid a new wave of the COVID-19 pandemic. With momentum across all segments, we are pleased to increase dividends to common shareholders for the seventeenth consecutive year."

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