Intact quantifies the estimated impact from the Slave Lake wildfires on its financial results

TORONTO, May 26, 2011 /CNW/ - Intact Financial Corporation announced that more than 800 of its customers will be compensated for predominantly property-related damage, and to a lesser extent commercial and auto-related coverage, caused by the devastating wildfires in Slave Lake and the surrounding areas.

"Our thoughts are with the residents of the Slave Lake area during this difficult time. We have been there from the outset to comfort and provide for our displaced customers, and will be there to help restore their lives and rebuild the community in the near future," said Charles Brindamour, President & CEO, Intact Financial Corporation.

Intact has so far provided emergency funding to over 400 families in need and received approximately 800 property, commercial and auto claims from its customers. While Intact adjusters have been unable to fully assess the damage because access to the town continues to be restricted, preliminary estimates indicate that the after-tax cost of the wildfires to Intact in the second quarter, net of reinsurance,  will likely amount to between $45 million and $55 million or 40 to 50 cents per share.

About Intact Financial Corporation

Intact Financial Corporation (www.intactfc.com) is the largest provider of property and casualty insurance in Canada with $4.5 billion in premiums. Its 7,500 employees offer home, auto and business insurance under the Intact Insurance, Novex Group Insurance, belairdirect and GP Car and Home brands.