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Intact Financial Corporation reports Q4-2024 results

News Release

February 12, 2025

TORONTO, Feb. 11, 2025 /CNW/ - (TSX: IFC)

Highlights

Operating DPW^1,2grew 5%, led by continued momentum in Personal lines
Combined ratio¹ was strong at 86.5%, mainly due to solid underlying results across all geographies and lines of business
Net operating income per share¹ rose 23% to $4.93, with robust underwriting results, as well as investment and distribution income increasing by 6% and 13%, respectively
BVPS¹ up 13% from last year to $92.67, reflecting EPS of $12.36 for 2024 and the overall strength of our platform
Solid operating ROE¹ at 16.5% (ROE¹ of 14.2%) and a strong balance sheet with $2.9 billion of total capital margin¹
Quarterly dividend increased by $0.12 to $1.33 per common share, representing a 10-year compounded annual growth rate of 10%

Charles Brindamour, Chief Executive Officer, said:

"We ended the year with another quarter of very strong results across all geographies and a 16.5% operating ROE in 2024. The $1.5 billion of catastrophe losses incurred this past year from numerous natural disasters further demonstrated the resilience of our platform, as well as our purpose to help people, businesses and society be resilient in bad times. At the same time, we continue to build on our competitive advantages and execute on our growth strategy. Against this backdrop and with the strength of our balance sheet, we are well positioned to deliver a NOIPS growth of 10% annually over time and exceed the industry ROE by 500 basis points. We are also pleased to increase dividends to common shareholders for the 20^th consecutive year."

Read the full news release here>>

Intact Insurance Specialty Solutions is the marketing brand for the insurance company subsidiaries of Intact Insurance Group USA LLC. Coverages may be underwritten by one of the following insurance companies: Atlantic Specialty Insurance Company, a New York insurer; Homeland Insurance Company of New York, a New York insurer; Homeland Insurance Company of Delaware, a Delaware insurer; OBI America Insurance Company, a Pennsylvania insurer; OBI National Insurance Company, a Pennsylvania insurer; or The Guarantee Company of North America USA, a Michigan insurer. Each of these insurers maintains its principal place of business at 605 Highway 169 N, Plymouth, MN 55441, except The Guarantee Company of North America USA, which is located at One Towne Square, Southfield, MI 48076. This material is intended as a general description of certain types of insurance coverages and services. Coverages and availability vary by state; exclusions and deductibles may apply. Please refer to your insurance policy or consult with your independent insurance advisor for information about coverages, terms and conditions. Some coverage may be written by a surplus lines insurer through a licensed surplus lines broker. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.