Intact Financial Corporation reports Q3-2021 results
November 9, 2021
(in Canadian dollars except as otherwise noted)
Highlights
Net operating income per share of $2.87 driven by strong underwriting performance and an accretive contribution from RSA
Premiums grew 68%, reflecting the first full quarter of RSA in our results and continued strength in commercial lines
Combined ratio of 91.3%, driven by strength in all business segments despite an elevated 7.5 pts of catastrophe losses
OROE of 18.3% with a total capital margin of $2.7 billion
EPS of $1.60 reflects strong operating results tempered by an investment loss and integration costs
Quarterly dividend increased by 10% to $0.91 per common share
TORONTO, Nov. 9, 2021 /CNW/ - (TSX: IFC)
Charles Brindamour, Chief Executive Officer, said:
"The strength of our business was again evident this quarter, with robust operating performance across the platform, despite an elevated level of catastrophes. Our people have worked hard to get customers back on track following many severe weather events. We are making great progress on the integration of RSA, with synergies being realized as expected. The acquisition is already delivering high single-digit accretion to NOIPS since closing on June 1, and we remain on track to generate upper teens accretion within 36 months. With a strong and resilient balance sheet and momentum in all segments, we are increasing dividends to our common shareholders for the sixteenth consecutive year."
