Intact Financial Corporation reports Q4-2024 results
February 12, 2025
TORONTO, Feb. 11, 2025 /CNW/ - (TSX: IFC)
Highlights
Operating DPW1,2 grew 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 20th consecutive year."
Read the full news release here>>
