Wildfires accounted for $252 million in losses, with the biggest financial impact coming from Atlantic Canada
Intact Financial Corp. estimates its catastrophe losses for the second quarter were around $421 million on a pre-tax basis.
The property and casualty insurer says in a news release the loss amounted to $1.79 per share after tax. Intact says nearly half of the $252 million losses from Canada were attributable to wildfires, with the biggest financial impact coming from Atlantic Canada.CEO Charles Brindamour says in a news release that Intact’s teams are working to get customers back on track amid a “very active season for catastrophes.”
He says this season is a reminder of the growing impact of climate change on forest fires and severe weather events.
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