An anonymous director reports

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

Intact Financial Corp. has provided an update on catastrophe losses in the fourth quarter of 2023 impacting both its continuing and exited lines of business.

The company estimates total catastrophe losses of $200-million on a pretax basis and net of reinsurance (after-tax impact of 85 cents on net operating income per share). The attached table provides a breakdown by line of business.

• Catastrophe losses in the United Kingdom and Ireland segment were driven by two severe windstorms in October, Storms Ciaran and Babet.
• In Canada and the United States, catastrophe losses were both weather and non-weather related.

In addition, catastrophe losses of $65-million (pretax and net of reinsurance) related to the two October windstorms were incurred in the company's U.K. home insurance operations. These losses will be reported in exited lines in Q4 2023, along with the underwriting results for all exited businesses, including UK&I personal lines.

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 U.K. and Ireland. Its 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 U.S., 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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