Business
Intact Financial Corporation Announces Second Quarter Catastrophe Loss Estimate
Intact Financial Corporation Announces Second Quarter Catastrophe Loss Estimate Ca...
About this update from Intact Financial Corporation
[{"type":"text","content":"\n\n\n\nIntact Financial Corporation Announces Second Quarter Catastrophe Loss Estimate\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.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 8, 2020\n\n\n\nTORONTO, July 8, 2020 /CNW/ - Intact Financial Corporation (TSX: IFC) today announced estimated catastrophe losses1 for the second quarter of 2020 of approximately $124 million on a pre-tax basis ($0.64 per share after-tax). Losses were all weather-related and primarily reflect the impact of a hailstorm in southern Alberta and flooding in Fort McMurray. Approximately 95% of the losses were in Canada with 70% of those losses in personal lines.\n\"Despite the challenge of the COVID-19 crisis, our teams have responded quickly and worked tirelessly to help get our customers back on track. We continue to focus on the safety and well-being of all our employees, while being there for customers and brokers when they need us most,\" said Charles Brindamour, Chief Executive Officer of Intact Financial Corporation. \"Recognizing the hardship caused by COVID-19, we have provided over $310 million of relief, including premium adjustments and payment flexibility, to over a million of our customers.\"\n1 For a definition of catastrophe losses, please refer to the \"Important notes\" section on page 4 of our 2019 Annual Management's Discussion and Analysis, available in the Investors section of our web site at www.intactfc.com and on SEDAR at www.sedar.com.\nAbout Intact Financial Corporation\nIntact Financial Corporation (TSX: IFC) is the largest provider of property and casualty (P&C) insurance in Canada and a leading provider of specialty insurance in North America, with over $11 billion in total annu...