TORONTO, Sept. 30, 2013 /CNW/ - Intact Financial Corporation (TSX: IFC)
today announced estimated catastrophe losses, net of reinsurance, for
the third quarter of 2013 of $270 million pre tax ($199 million after
tax or $1.51 per share). The company's current estimate of losses for
the events included in the July 22 press release is largely unchanged,
however, subsequent catastrophes added to the total estimated loss. In
aggregate, ten events led to the catastrophe losses in the quarter,
including hail storms in Alberta and rain storms in Ontario and Quebec.
"This summer's events have taken an emotional toll and caused
considerable disruption to thousands of Canadians from coast-to-coast,"
said Jean-François Blais, President of Intact Insurance. "While I am
impressed with the extraordinary effort and response of our people, it
has become clear that we must adapt our homes, cities and
infrastructure to today's changing weather patterns. By offering
sustainable and viable protection and promoting greater customer
awareness of available prevention measures, we can ensure that our
communities are safe, resilient and strong."
About Intact Financial Corporation
Intact Financial Corporation (www.intactfc.com) is the largest provider of property and casualty insurance in Canada.
Intact offers home, auto and business insurance through Intact
Insurance, belairdirect, Grey Power, BrokerLink and Jevco.
Forward Looking Statements
This document may contain forward looking statements that involve risks
and uncertainties. The company's actual results could differ materially
from these forward looking statements as a result of various factors,
including those discussed in the company's most recently filed Annual
Information Form and annual Management's Discussion & Analysis. Please
read the cautionary note at the end of the MD&A.
SOURCE INTACT FINANCIAL CORPORATION
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