Intact Financial Corporation Announces Fourth Quarter Catastrophe Loss Estimate

TORONTO, January 11, 2022 / CNW / – Intact Financial Corporation (TSX: IFC) today announced an estimate of disaster losses1 for the fourth quarter of 2021 of approximately $ 186 million on a pre-tax basis ($ 0.80 per share after tax).

  • About 55% of catastrophic claims involved our Canada segment, half of which in personal property. This mainly reflects the impact of flooding in British Columbia, as well as windstorms through Ontario and Quebec in December.
  • About 20% of the losses were attributable to the UK&I segment and 5% to the US leased lines.
  • The balance will be posted to Corporate & Other due to internal reinsurance.

“Our teams have worked tirelessly to quickly get our customers back on track. The unprecedented flood of British Columbia last November reminded us that as a society we must take immediate action to adapt to climate change, ”said Charles Brindamour, Chief Executive Officer of Intact Financial Corporation. “Despite difficult weather conditions, our business performance continues to be strong.”

1 For more details on our catastrophe claims expectations and definitions, please refer to sections 24.3 and 27.2, respectively, of our Q3-2021 MD&A, which is incorporated by reference. This document is available on our website at www.intactfc.com and on SEDAR at www.sedar.com.

About Intact Financial Corporation

Intact Financial Corporation (TSX: IFC) is the largest provider of property and casualty insurance in Canada, one of the world’s leading providers of specialty insurance and, together with RSA, a leader in the UK and Ireland. Our company has grown organically and through acquisitions of more than $ 20 billion of the total annual premiums.

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

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

Apart from North America, the company provides personal, commercial and specialty insurance solutions across the UK, Ireland, Europe and the Middle East via RSA brands.

Forward-looking statements

Certain statements made in this press release are forward-looking statements. These reports include, but are not limited to, by share and by industry: claims, catastrophic and non-catastrophic claims, their origin and location, expected effect on performance and combined ratio , the expected effect of applicable and future tax regulations and the impact on Society of the occurrence and response to the coronavirus pandemic (COVID-19) and related events. All of these forward-looking statements are made in accordance with the “safe harbor” provisions of applicable Canadian securities laws.

Forward-looking statements are based on estimates and assumptions made by management based on its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management considers appropriate in circumstances. Many factors could cause the Company’s actual results, performance or achievements or future events or developments to differ materially from those expressed or implied by forward-looking statements. In the case of estimated claims and losses, due to the preliminary nature of the information available to prepare the estimates, future estimates and the actual amount and categorization of claims and losses associated with the events described above may differ materially from the estimates. current.

All forward-looking statements included in this press release are qualified by these cautions and those appearing in the “Risk management” sections of our Q2-2021 MD&A (section 19), and in our annual MD&A. 2020 and Analysis, in notes 10 and 13 to our consolidated financial statements for the year ended December 31, 2020 and in our annual information form dated March 31, 2021, all of which are available on our website at www.intactfc.com or on SEDAR at www.sedar.com. These factors are not intended to represent a complete list of factors that could affect the Company. However, these factors must be considered carefully. Although forward-looking statements are based on what management considers reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. When relying on forward-looking statements in making decisions, investors should ensure that the foregoing information is carefully considered. Do not place undue reliance on any forward-looking statements contained in this press release. The Company has no intention and assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Intact Financial Corporation

For further information: Media inquiries: Kate Moseley-Williams, Senior Communications Advisor, 416 341-1464 ext. 42515, [email protected]; Investor Information: Shubha Khan, Vice President, Investor Relations, 416 341-1464 ext. 41004, [email protected]

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