Informa Insurance News 24
INTACT FINANCIAL TALLIES C$124M IN SECOND-QUARTER CAT LOSSES
North American property/casualty group Intact Financial said Wednesday that its second-quarter results will reflect around C$124m in pre-tax catastrophe losses. The Toronto-based group said all the losses were weather-related, with the bulk tied to the hailstorm in southern Alberta and flooding in Fort McMurray. Around 95% of the losses took place in Canada. In Canada, Intact distributes through Intact Insurance and belairdirect, while in the US it operates through Intact Insurance Group USA (the former One Beacon Insurance Group).