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Intact pegs Q3 2023 cat losses at $611m

October 13, 2023

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.

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