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Intact Financial (TSX:IFC) Reports Dividend Increase and Positive 2025 Outlook in FY24 Results
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Highlights
Intact Financial Corporation (TSX:IFC) provides Property and Casualty (P&C) insurance in Canada. It is a prominent specialty lines insurer with international expertise and a leader in commercial lines in the UK and Ireland.
For the fiscal year 2024 (FY24), IFC’s insurance revenue increased by 4.0% YoY, from CAD 25,507 million in FY23 to CAD 26,523 million in FY24. This growth was primarily driven by higher underwriting in both personal and commercial lines in North America. Operating net investment income also saw a notable boost, climbing 15.8% YoY to CAD 1,559 million, compared to CAD 1,346 million in the previous year. This increase was largely attributed to higher reinvestment yields, particularly those realized in 2023.
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