Menu

Reinsurance News

Intact Financial estimates Q3 cat losses at $356mn

13th October 2021 - Author: Matt Sheehan

Canadian property and casualty (P&C) insurer Intact Financial Corporation has announced that its estimated catastrophe losses for the third quarter of 2021 are $365 million, pre-tax.

intactClaims mostly reflected the impact of severe weather events including rain and hail storms in Alberta, Ontario, and Atlantic Canada, as well as flooding in the UK, and Hurricane Ida.

Nearly 60% of the losses were in Canada, where approximately two-thirds affected personal property, Intact Financial noted.

Of the losses outside Canada, three-quarters impacted UK&I commercial lines and approximately 10% were in US commercial lines.

“Our people are working tirelessly to help customers get back on track. Our work over many years has built a highly resilient business, and momentum is strong across the platform,” said Charles Brindamour, Chief Executive Officer of Intact Financial Corporation.

RMS

“This enables us to provide second to none service to our customers, and to invest in helping society be better prepared for extreme events.”

Intact Financial is the largest provider of property and casualty (P&C) insurance in Canada. In the US, Intact Insurance Specialty Solutions provides a range of specialty insurance products and services, and outside of North America, the company provides personal, commercial and specialty insurance solutions across the UK, Ireland, Europe and the Middle East through the RSA brands.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Global Atlantic acquires majority stake in eRESI Mortgage

Life and annuity insurer The Global Atlantic Financial Group (Global Atlantic) has made a strategic investment and capital commitment to...

Close