An anonymous director reports

INTACT FINANCIAL CORPORATION PROVIDES UPDATE ON CATASTROPHE EVENTS IN THE THIRD QUARTER

Intact Financial Corp. today provided an update to the market on catastrophe events in the third quarter of 2023. The company estimates that total catastrophe losses for the quarter were approximately $611-million on a pre-tax basis and net of reinsurance ($2.56 per share after tax). This compares with the estimate of $570-million in weather-related losses provided on Aug. 31 for the first two months of the quarter. The increase in the estimate reflects non-weather events as there were no weather-related catastrophe events in September.

The attached table provides a breakdown of the catastrophe losses by reporting segment.

More than 90 per cent of the losses in the Canada segment were driven by 14 severe weather events, including floods in Atlantic Canada, Quebec and Ontario, as well as hailstorms in Ontario, Alberta and Manitoba. Approximately a third of the losses was attributable to the wildfires in British Columbia and the Northwest Territories.

In the United States, catastrophe losses were related to a hailstorm and a tornado in Arkansas.

About Intact Financial Corp.

Intact Financial is the largest provider of property and casualty (P&C) insurance in Canada, a leading provider of global specialty insurance, and, with RSA, a leader in the United Kingdom and Ireland. The company's business has grown organically and through acquisitions to over $21-billion of total annual premiums.

In Canada, Intact distributes insurance under the Intact Insurance brand through a wide network of brokers, including its wholly owned subsidiary BrokerLink, and directly to consumers through belairdirect. Intact also provides affinity insurance solutions through the Johnson Affinity Groups.

In the United States, Intact Insurance Specialty Solutions provides a range of specialty insurance products and services through independent agencies, regional and national brokers, and wholesalers and managing general agencies.

In the U.K., Ireland and Europe, Intact provides personal, commercial and specialty insurance solutions through the RSA brands.

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