Intact Financial Corporation reports Q3-2022 results
TORONTO, Nov. 8, 2022 /CNW/ – (TSX: IFC)
Highlights
- Net operating income per share1 decreased 6% to $2.70, reflecting a slight increase in operating combined ratio, offset in part by higher investment and distribution income
- Operating DPW2 grew 2% as continued solid growth in specialty lines was partially offset by profitability actions, including strategic exits
- Operating combined ratio1 was robust at 92.6%, with very strong results in commercial lines and Canada personal auto performing as expected
- EPS increased 26% to $2.02 with solid operating and non-operating performance, while last year’s results were impacted by an impairment charge on an investment
- OROE1 and ROE1 were strong at 15.0% and 19.1%, respectively, reflecting continued strong performance
- BVPS was stable year-over-year, as strong earnings were offset by significant mark-to-market losses on investments
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