Intact notifies C$450mn-C$800mn wildfire loss

Canadian insurer Intact has notified its reinsurers that it
expects ground-up losses of C$450mn-C$800mn ($350mn-$623mn) from
the wildfires that have swept through Alberta, The
Insurance Insider can reveal.
Sources told this publication that Intact had guided reinsurers
to expect a loss towards the bottom end of the range.
Intact has a 20 percent market share in Alberta, implying an
industry loss range of C$2.25bn-C$4bn.
Based on Intact's 2015 catastrophe reinsurance programme,
which is believed