Q: Hi - can you update your thoughts on prognosis for Intact given recent news on high catastrophe losses? Stock is weak of late and wondering if you think that may continue.
5i Research Answer:
We can't add much comment here; losses are just part of the insurance business and with Canada's fires and floods and ice. The per-share after tax impact is $1.79. Not great, but manageable. At 15X earnings with a decent and secure 2.3% dividend, we would still be comfortable here.