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BRIEF-Intact Financial Corp Reports Q2 EPS C$1.74

Published 2020-07-28, 06:46 p/m
© Reuters.
IFC
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July 28 (Reuters) - Intact Financial Corp IFC.TO :

* INTACT FINANCIAL CORPORATION REPORTS Q2-2020 RESULTS AND PROVIDES COVID-19 UPDATE

* Q2 OPERATING EARNINGS PER SHARE C$2.35

* Q2 EARNINGS PER SHARE C$1.74

* Q2 EARNINGS PER SHARE ESTIMATE C$1.97 -- REFINITIV IBES DATA

* WELL POSITIONED TO MEET UNDERWRITING TARGETS FOR 2020

* FOR 2020, CRISIS IS EXPECTED TO IMPACT DIRECT PREMIUMS WRITTEN GROWTH IN MID-SINGLE TO LOW-DOUBLE DIGIT RANGE

* UNDERWRITING PERFORMANCE IS EXPECTED TO BE ON TRACK FOR REST OF 2020

* HARD MARKET CONDITIONS IN PERSONAL PROPERTY ARE EXPECTED TO CONTINUE

* COMMERCIAL LINES HARD MARKET CONDITIONS ARE EXPECTED TO RESUME IN COMING MONTHS

* IN U.S. COMMERCIAL, HARDENING MARKET CONDITIONS ARE EXPECTED TO CONTINUE

* PREMIUMS GREW 10% IN CONSTANT CURRENCY FOR P&C U.S. TO $486 MILLION IN Q2

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