Mr. Charles Brindamour reports

INTACT FINANCIAL CORPORATION PROVIDES AN UPDATED CATASTROPHE LOSS ESTIMATE FOR THE THIRD QUARTER

Intact Financial Corp. has provided an update to the market regarding catastrophe events in the third quarter of 2024.

The company estimates that total catastrophe losses for the quarter were approximately $1.2-billion on a pretax basis and net of reinsurance ($5.03 per diluted share after tax). This includes the previously disclosed estimate of $1.1-billion in weather-related losses provided on Aug. 21, in relation to four severe events in Canada, namely torrential rains in Southern Ontario, wildfires in Jasper, hailstorm in Calgary and flooding in Quebec.

The increase in the estimate reflects additional events in September, which occurred mainly in the United Kingdom and Ireland and the United States, including hurricane Helene and storm Boris, as well as heavy rains in the U.K.

"Our priority continues to be supporting customers through the claims process," said Charles Brindamour, chief executive officer of Intact Financial. "We are leveraging our investments in On Side and the Intact Service Centres to provide immediate and local on-the-ground support for impacted customers. In fact, we have already closed almost 50 per cent of the approximate 50,000 claims related to the four severe Canadian weather events."

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

About Intact Financial Corp.

Intact Financial is the largest provider of property and casualty insurance in Canada, a leading provider of global specialty insurance, and, with RSA, a leader in the U.K. and Ireland. Intact Financial has grown organically and through acquisitions to over $22-billion of total annual premiums.

In Canada, Intact Financial distributes insurance under the Intact Insurance brand through agencies and a wide network of brokers, including its wholly owned subsidiary BrokerLink. Through belairdirect, Intact distributes directly to consumers. Intact Financial also provides affinity insurance solutions through affinity groups and travel insurance, as well as exclusive and tailored offerings through Intact Prestige.

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 Financial provides personal, commercial and/or specialty insurance solutions through the RSA, NIG and FarmWeb brands.

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