Intact Financial Corporation reports Q3-2024 results

TORONTO, Nov. 5, 2024 /CNW/ – (TSX: IFC)  

Highlights

• Organic operating DPW^1,2 growth of 6%, excluding acquisitions and exits, led by continued momentum in Personal lines
• Combined ratio¹ of 103.9% included 22 points of catastrophe losses, offsetting otherwise strong underlying performances across all geographies
• Net operating income per share¹ was $1.01 (and EPS of $1.06), despite $5.03 of catastrophe losses, with double-digit growth in investment and distribution income
• Operating ROE¹ remained strong at 15.8% over the last 12 months, up 4 points year-over-year, with BVPS¹ of $90.60, up 3% sequentially, despite the unusually challenging operating environment 
• Strong and resilient balance sheet with $2.6 billion of total capital margin¹ and an adjusted debt-to-total capital ratio¹ of 20.3%

Charles Brindamour, Chief Executive Officer, said: 

“The devastating effects from severe weather events in the quarter have impacted the lives of tens of thousands of customers. Our employees were on the ground within the first hours of these events providing immediate assistance to affected communities. We are leveraging our competitive advantages, which include On Side Restoration and Intact Service Centres, to minimize losses for our customers. In this context, our operations have shown great financial resiliency, reflected by our strong capital position and mid-teens operating ROE over the last 12 months. It’s in these challenging moments that we demonstrate our purpose – to help people, businesses and society prosper in good times and be resilient in bad.”

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