A stormy summer season left insurer Intact Financial Corp., the former ING Canada, with a loss in the third quarter as more people filed claims, while its chief executive said higher premiums could be developing across the industry.
Canada’s largest home and auto insurer reported a net loss of $8 million or seven cents a share in the quarter ended Sept. 30, as it booked lower underwriting results and a non-cash accounting loss
The results marked a drop from profit of $57.3 million or 47 cents a share a year earlier. Net operating income for the quarter fell 80% to $21.6 million or 18 cents a share.
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