CEO factors to firm’s “great resilience”
Intact Monetary Company has revealed its monetary outcomes for the fourth quarter and full-year 2023.
The insurance coverage group reported the next numbers:
|
Metric
|
This autumn 2023
|
This autumn 2022
|
FY 2023
|
FY 2022
|
|---|---|---|---|---|
|
Underwriting revenue
|
CA$787 million
|
CA$485 million
|
CA$2.13 billion
|
CA$2.06 billion
|
|
Web working revenue attributable to frequent shareholders
|
CA$752 million
|
CA$508 million
|
CA$2.06 billion
|
CA$2.09 billion
|
|
Web revenue
|
CA$531 million
|
CA$353 million
|
CA$1.33 billion
|
CA$2.45 billion
|
Based on Intact, its mixed ratio for Canada within the fourth quarter was 86.7%; UK&I, 104.6%; and within the US, 86.4%.
Commenting on the figures, chief government Charles Brindamour stated in a launch: “The previous yr has been difficult for society, significantly within the face of quite a few pure disasters. By way of all of it, our individuals labored relentlessly to make sure clients get again on monitor rapidly. Regardless of shouldering elevated disaster losses in consequence, the enterprise demonstrated great resilience.
“We achieved mid-teens working ROE (return on fairness) and maintained a robust stability sheet with CA$2.7 billion of complete capital margin. As we look forward to 2024, we’re nicely positioned for outperformance, given robust top-line momentum, continued underwriting self-discipline, and a refocused UK&I section.”
The CEO additionally pointed to the agency’s elevated dividends to frequent shareholders for the nineteenth consecutive yr.
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