Intact earnings down 79 per cent after second quarter full of severe weather events Intact earnings down 79 per cent in Q2 Aug 2, 2023 Aug 2, 2023 SMS Email The logo of Intact Financial Corp. is seen in an undated handout photo. THE CANADIAN PRESS/HO *MANDATORY CREDIT* GAC SMS Email Print Copy article link Save TORONTO - Intact Financial Corp. says its net income for the second quarter was $260 million, down 79 per cent from $1.2 billion last year.The insurance company says earnings per share were $1.30, down from $6.93.Net operating income per share was down 30 per cent to $2.30.Intact says the decline in net operating income was largely due to an increase in catastrophe losses, which were $421. The company says these losses were partially offset by higher investment income.It says it maintained a strong balance sheet despite multiple severe weather events during the second quarter.This report by ºÃÉ«tvwas first published August 2, 2023.Companies in this story: (TSX:IFC) The ºÃÉ«tv Press. All rights reserved. SMS Email Print Copy article link Save Tags Business Insurance More Business Stories AI a 'great thing' for engineering amid labour shortage, says WSP Global CEO Most ºÃÉ«tvs view about Online News Act is news should be free, survey suggests +3 26 million tons of clothing end up in China's landfills each year, propelled by fast fashion ºÃÉ«tv Tire says recent breach of e-commerce database involved customer info +10 Silvio Berlusconi, scandal-scarred former Italian leader, dies at 86 +5 Pope decries the rise of AI-directed warfare, saying it leads to a spiral of annihilation Musk says owning Twitter 'painful' but needed to be done New Mexico judge grants Mark Zuckerberg’s request to be dropped from child safety lawsuit +6 JD Vance rails against 'excessive' AI regulation in a rebuke to Europe at the Paris AI summit Maryland sues maker of Gore-Tex over pollution from toxic 'forever chemicals' You might be interested in +2 Suspect fought with neighbour about shed before 2 Saskatchewan Mounties shot: witness +2 Justin Trudeau's youngest son joins 'Son of a Critch' as an extra +2 Egypt fans rejoice in Vancouver after historic World Cup 3-1 win against New Zealand +6 Harvey Weinstein's New York rape charge dropped after accuser says she can't endure a fourth trial Sponsored Content +2 For credit unions, reconciliation is a true partnership For many Indigenous communities, access to financial services and economic opportu… Sending money abroad? Here’s how digital transfers work – and why ºÃÉ«tvs are using them Trust in international money transfers has long been tied to physical places: a ba… Similar Stories Iran attacks Bahrain and Kuwait following US strikes and threatens to halt talks Poilievre asks Parliament to probe B.C. 'condo bailout' blocking 'a price correction' No injuries but Hibernia oil spill posed threat of deadly blast and fire: regulator
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Sending money abroad? Here’s how digital transfers work – and why ºÃÉ«tvs are using them Trust in international money transfers has long been tied to physical places: a ba…
