Intact Financial estimates Q3 catastrophe losses so far at $570 million

Intact Financial Corp. estimates that its catastrophe losses due to wildfires and other weather events total about $570 million for the third quarter so far.

Intact Financial Corp. estimates that its catastrophe losses due to wildfires and other weather events total about $570 million for the third quarter so far.

The property and casualty insurance company says the amount comes to about $2.40 per share, but noted the wildfires continue to burn and actual losses may differ from its estimate.

Intact says it will issue an update in early October if its catastrophe losses increase materially by the end of the quarter.