Business
DEFINITY RELEASES ESTIMATE OF FINANCIAL IMPACT FROM CATASTROPHE LOSSES FOR THE THIRD QUARTER OF 2024
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 2024\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: CENTER; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; 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 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnrbrb1{\nBORDER-RIGHT:black 1pt\n}\n.prnbsbls{\nBORDER-LEFT:black 0.5pt solid\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prncbts{\nBORDER-TOP:black 0.5pt solid\n}\n.prnbbbs{\nBORDER-BOTTOM:black 0.5pt solid\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnbrbrs{\nBORDER-RIGHT:black 0.5pt solid\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. 10, 2024\n \n\n /CNW/ -\n \n Definity Financial Corporation\n \n (TSX: DFY) today announced that catastrophe losses in the third quarter of 2024 would negatively impact operating income by approximately\n \n $170 million\n \n net of reinsurance recoveries, or approximately\n \n $1.09\n \n per common share, net of taxes and reinsurance.\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 2024:\n \n\n\n\n\n\n\n\n (in millions of Canadian dollars - unaudited)\n \n\n\n\n\n\n\n\n Amount\n \n\n\n\n\n\n\n\n\n Personal auto\n \n\n\n\n\n\n $17\n \n\n\n\n\n\n\n\n Personal property\n \n\n\n\n\n\n $128\n \n\n\n\n\n\n\n\n Commercial insurance\n \n\n\n\n\n\n $25\n \n\n\n\n\n\n\n\n\n Total\n \n\n\n\n\n\n\n\n $170\n \n\n\n\n\n\n\n\n Notable events in the quarter included a significant hailstorm in\n \n Alberta\n \n , severe rainstorms that led to flooding in\n \n Ontario\n \n and\n \n Quebec\n \n , and the Jasper wildfire...