The Globe and Mail reports in its Monday, July 10, edition that Intact Financial estimates its catastrophe losses for the second quarter were approximately $421-million on a pretax basis.
An Associated Press dispatch to The Globe reports that the property and casualty insurer says the loss amounted to $1.79 per share after tax.
Intact says nearly half of the $252-million losses from Canada were attributable to wildfires, with the biggest financial impact coming from Atlantic Canada.
Intact says other notable losses included an ice storm and a flood in Quebec.
Chief executive officer Charles Brindamour says that Intact's staff are working to get customers back on track amid a "very active season for catastrophes."
He says this season is a reminder of the growing impact of climate change on forest fires and severe weather events.
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