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DEFINITY RELEASES ESTIMATE OF FINANCIAL IMPACT FROM CATASTROPHE LOSSES FOR THE THIRD QUARTER OF 2023
DEFINITY RELEASES ESTIMATE OF FINANCIAL IMPACT FROM CATASTROPHE LOSSES FOR THE THIRD QUARTER OF 2...
About this update from Definity Financial Corp.
[{"type":"text","content":"\n \n \n \n DEFINITY RELEASES ESTIMATE OF FINANCIAL IMPACT FROM CATASTROPHE LOSSES FOR THE THIRD QUARTER OF 2023\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen5{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 0.5pt solid; BORDER-LEFT:black 1pt\n}\n.prngen4{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 0.5pt solid; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnsbbb1{\nBORDER-BOTTOM:black 1pt\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnbrbrs{\nBORDER-RIGHT:black 0.5pt solid\n}\n.prnbbbs{\nBORDER-BOTTOM:black 0.5pt solid\n}\n.prnsblb1{\nBORDER-LEFT:black 1pt\n}\n.prnsbtb1{\nBORDER-TOP:black 1pt\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnrbrb1{\nBORDER-RIGHT:black 1pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n WATERLOO, ON\n \n \n ,\n \n \n Oct. 5, 2023\n \n \n /CNW/ -\n \n Definity Financial Corporation\n \n (TSX: DFY) today announced that catastrophe losses in the third quarter of 2023 would negatively impact operating income by approximately\n \n $122 million\n \n net of reinsurance recoveries and inclusive of reinstatement premiums (or approximately\n \n $0.77\n \n per common share, net of taxes). This is largely in line with Definity's\n \n \n September 5, 2023\n \n announcement\n \n regarding estimated catastrophe losses in July and\n \n August 2023\n \n .\n \n \n \n \n \n \n \n \n \n The table below provides a breakdown of the estimated catastrophe losses by line of business during the third quarter of 2023:\n \n \n \n \n \n \n \n (in millions of Canadian dollars – unaudited)\n \...