Bullboard - Stock Discussion Forum Intact Financial Corp INTAF

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

Financial Services Insurance - Property & Casualty

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,... see more

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TSX:IFC - Post Discussion

Intact Financial Corp > Third Quarter Catastrophe Loss Estimate

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Post by Betteryear2 on Oct 12, 2021 5:16pm

Third Quarter Catastrophe Loss Estimate

TORONTO, Oct. 12, 2021 /CNW/ - Intact Financial Corporation (TSX: IFC) today announced estimated catastrophe losses1 for the third quarter of 2021 of approximately $365 million on a pre-tax basis ($1.59 per share after-tax). Claims mostly reflected the impact of severe weather events including rain and hail storms in Alberta, Ontario, and Atlantic Canada, flooding in the UK, and Hurricane Ida. Nearly 60% of the losses were in Canada, where approximately two-thirds affected personal property. Of the losses outside Canada, three-quarters impacted UK&I commercial lines and approximately 10% were in US commercial lines.

"Our people are working tirelessly to help customers get back on track. Our work over many years has built a highly resilient business, and momentum is strong across the platform. This enables us to provide second to none service to our customers, and to invest in helping society be better prepared for extreme events," said Charles Brindamour, Chief Executive Officer of Intact Financial Corporation.

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