Intact Financial Corp

Latest Results (17.12.2024):

Revenue Growth

In Q3-2024, Intact Financial Corp reported a 4% increase in operating direct premiums written (DPW), with organic growth reaching 6% when excluding the impact of acquisitions and exits. This growth was primarily driven by rate increases and unit growth in Personal lines, reflecting the company's ability to adapt to hard market conditions.

Combined Ratio and Catastrophe Impact

The combined ratio for Intact Financial Corp in Q3-2024 was 103.9%, significantly impacted by 22 points of catastrophe losses, which were approximately 17 points above expectations. Despite these challenges, the company demonstrated strong underlying performance across all geographies, excluding the effects of catastrophe losses and prior year development.

Net Operating Income and EPS

Intact Financial Corp's net operating income per share for Q3-2024 was $1.01, with earnings per share (EPS) reaching $1.06. This performance was achieved despite absorbing $5.03 of catastrophe losses, supported by double-digit growth in investment and distribution income, showcasing the company's diversified income streams.

Strong Balance Sheet

As of September 30, 2024, Intact Financial Corp maintained a robust balance sheet with a total capital margin of $2.6 billion. The adjusted debt-to-total capital ratio stood at 20.3%, reflecting the company's financial resilience despite the severe weather events and the cancellation of RSA’s preferred shares during the quarter.

Dividend Announcements

Intact Financial Corp's Board of Directors declared a quarterly dividend of $1.21 per common share, payable on December 31, 2024, to shareholders of record on December 16, 2024. Additionally, dividends were approved for various series of preferred shares, demonstrating the company's commitment to returning value to its shareholders.