Canadian property and casualty insurer Intact Financial Corporation has estimated total losses from catastrophe events in the third quarter of 2023 of approximately CAD 611 million, on a pre-tax basis and net of reinsurance.
The figure is up on the CAD 570 million announced for July and August, although the additional CAD 41 million is all from non-weather events.
Intact reveals that more than 90% of the losses in the Canada segment were driven by 14 severe weather events, including floods in Atlantic Canada, Quebec and Ontario, as well as hailstorms in Ontario, Alberta and Manitoba.
