Cat losses punish Canada's Intact Financial

Intact Financial, Canada's biggest property and casualty
carrier, reported pre-tax catastrophe losses of C$385mn ($293mn)
for 2016, including summer storms and the Fort McMurray wildfires.
Auto losses and weather-related claims also hit fourth-quarter
results, which missed expectations.
The Fort McMurray fires led to the biggest insured-loss
catastrophe in Canadian history, with the Insurance Bureau of
Canada putting the cost at over C$3.6bn, Intact said. The company
said its claims reached abou