Elevated Claims Hurt Intact in the Fourth Quarter

Intact Financial IFC reported fourth-quarter net income of CAD 98 million or CAD 0.87 per share. For the full year, Intact reported net income of CAD 420 million or CAD 3.65 per share. Results were slightly below our expectations as elevated auto insurance claims drove higher expenses in the fourth quarter. However, Intact’s equity portfolio continues to show strength, supporting comprehensive income.