TORONTO — Intact Financial Corp. in a report Thursday estimated that its catastrophe losses due to wildfires and other weather events totalled about $570 million for the third quarter so far.
The property and casualty insurance company said that amounts to about $2.40 per share, but noted the wildfires continue to burn and actual losses may differ from its estimate.
Nadja Dreff, head of Canadian Insurance at DBRS Morningstar, said although she expected to see a high estimate of damages from Intact, it does not affect the firm's estimate for the overall insurance industry. DBRS Morningstar estimated earlier this month that the insured losses due to wildfire in the third quarter would be between $700 million and $1.5 billion for the Canadian insurance industry, which they called"manageable" for insurers.
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Intact Financial estimates Q3 catastrophe losses so far at $570 millionTORONTO — Intact Financial Corp. estimates that its catastrophe losses due to wildfires and other weather events total about $570 million for the third quarter so far. The property and casualty insurance company says the amount comes to about $2.
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Intact Financial estimates Q3 catastrophe losses so far at $570-millionThe property and casualty insurance company says the amount comes to about $2.40 per share, but noted the wildfires continue to burn and actual losses may differ from its estimate
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Intact Financial estimates Q3 catastrophe losses so far at $570 millionIntact Financial Corp. estimates that its catastrophe losses due to wildfires and other weather events total about $570 million for the third quarter so far.
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