Intact Financial Corporation (IFC) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the Intact Financial Corporation Q2 2025 Results Conference Call. At this time, note that all participants are in the listen-only mode. Following the presentation, we will conduct a Q&A session. If at any time during this call you require immediate assistance, please press star zero for the operator. Also note that this call is being recorded on Wednesday, July 30th, 2025. I would now like to turn the conference over to Jeff Kwan, Chief Investor Relations Officer. Please go ahead. Thank you, Sylvie. Hello, everyone, and thank you for joining the call to discuss our second quarter financial results. A link to our live webcast and materials for this call have been posted on our website at intactfc.com under the Investors tab. Before we start, please refer to slide two for a disclaimer regarding the use of forward-looking statements, which form part of this morning's remarks. And slide three for a note on the use of non-GAAP financial measures and other terms used in this presentation. To discuss our results today, I have with me our CEO, Charles Brindamore, our CFO, Ken Anderson, Patrick Barbeau, our Chief Operating Officer, and Guillaume Lamy, Senior Vice President, Personal Lines. We will begin with prepared remarks followed by Q&A. And with that, I'll turn the call over to Charles. Thanks, Jeff. Good morning, everyone, and thank you for joining us today. Yesterday evening, we announced net operating income per share of $5.23, driven by strong underwriting performance across all geographies and lines of business. Our book value per share increased 12% year over year, driven by an operating ROE running above 16%. Top line growth was 4%, an improvement of 1.25 over a quarter. This was attributable to continued growth i...