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Feb 8 (Reuters) - Intact Financial Corp IFC.TO , Canada's largest property and casualty insurer, reported a 20 percent fall in quarterly operating profit, reflecting a decrease in underwriting income.
The company also said it would increase its quarterly dividend by 6 Canadian cents to 64 cents per share.
Overall underwriting income decreased 30.8 percent to C$153 million in the quarter.
Intact reported an underwriting loss of $9 million from its personal auto insurance business, compared with an income of $28 million last year, largely due to an increase in weather-related claims.
The company's combined ratio rose to 92.5 percent from 88.6 percent a year earlier, hurt by weak results in its personal auto insurance business.
A ratio below 100 percent means an insurer earns more in premiums than it pays out in claims.
The company's net operating income fell to C$212 million ($161.20 million), or C$1.58 per share, in the fourth quarter ended Dec. 31, from C$265 million, or C$1.97 per share, a year ago. on average had expected net operating income per share of C$1.75 per share, according to Thomson Reuters I/B/E/S data.
($1 = 1.3151 Canadian dollars)