Intact Financial Corporation has revealed estimates of its catastrophe losses for the fourth quarter of 2019.
The company announced that its losses for the quarter were approximately $115 million on a pre-tax basis ($0.60 per share after-tax).
Most of the losses were concentrated in Canadian property lines, Intact reported. A breakdown of $115 million revealed that $54 million was for pre-tax commercial property losses, and another $48 million was for pre-tax personal property losses.
Last year, Intact Financial committed $2.3 million to 16 charitable partners across Canada. Those partners were selected because they are exploring concrete solutions for managing climate change, which includes the maintenance and restoration of natural assets that can protect against flooding.
