Canada's Intact Financial Q4 operating income per share up 12% on strong underwriting performance
Overview
Canada insurance provider's Q4 net operating income per share rose 12% yr/yr
Company's Q4 combined ratio improved to 85.9%, reflecting robust performance
Company increased quarterly dividend by 11% to C$1.47 per share in Q4
Outlook
Company expects high-single to low-double-digit premium growth in Canadian Personal lines
Intact Financial aims for 500 basis points ROE outperformance over the next decade
Company anticipates 10% annual NOIPS growth over the next decade
Result Drivers
UNDERWRITING PERFORMANCE - Strong underwriting performance drove a 12% increase in net operating income per share, with a combined ratio of 85.9%
PERSONAL LINES GROWTH - Operating DPW growth of 4% was driven by continued strength in Personal lines
LOWER CATASTROPHE LOSSES - Operating ROE increased to 19.5% due to strong margins and lower-than-expected catastrophe losses
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 EPS |
| C$5.24 |
|
Q4 Net Income |
| C$961 mln |
|
Q4 Combined Ratio |
| 85.9% |
|
Q4 Operating Income |
| C$979 mln |
|
Press Release: ID:nCNWXpx65a
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