Insurer Intact Financial reports $421 million in catastrophe losses in second quarter

Intact Financial Corp. estimates its catastrophe losses for the second quarter were around $421 million on a pre-tax basis.

The property and casualty insurer says in a news release the loss amounted to $1.79 per share after tax. 

Intact says nearly half of the $252 million losses from Canada were attributable to wildfires, with the biggest financial impact coming from Atlantic Canada. 

Intact says other notable losses included an ice storm and a flood in Quebec.