(TSX: IFC) 

Highlights

Charles Brindamour, Chief Executive Officer, said:

"We ended the year with another quarter of very strong results across all geographies and a 16.5% operating ROE in 2024. The $1.5 billion of catastrophe losses incurred this past year from numerous natural disasters further demonstrated the resilience of our platform, as well as our purpose to help people, businesses and society be resilient in bad times. At the same time, we continue to build on our competitive advantages and execute on our growth strategy. Against this backdrop and with the strength of our balance sheet, we are well positioned to deliver a NOIPS growth of 10% annually over time and exceed the industry ROE by 500 basis points. We are also pleased to increase dividends to common shareholders for the 20th consecutive year."

12-Month Industry Outlook

Segment Results

Q4-2024 Consolidated Performance

Lines of Business

P&C Canada

P&C UK2

P&C US2

Net Operating Income, EPS and ROE

Balance Sheet

Common Share Dividend

Preferred Share Dividends

Normal Course Issuer Bid

Analysts' Estimates

Management's Discussion and Analysis (MD&A) and Consolidated Financial Statements

This Press Release, which was approved by the Company's Board of Directors on the Audit Committee's recommendation, should be read in conjunction with the Q4-2024 MD&A, as well as the Q4-2024 Consolidated financial statements, which are available on the Company's website at www.intactfc.com and later today on SEDAR+ at www.sedarplus.ca. 

For the definitions of measures and other insurance-related terms used in this Press Release, please refer to the MD&A and to the glossary available in the "Investors" section of the Company's website at www.intactfc.com.

Conference Call Details

Intact Financial Corporation will host a conference call to review its earnings results tomorrow at 11:00 a.m. ET. To listen to the call via live audio webcast and to view the Company's Consolidated financial statements, MD&A, presentation slides, Supplementary financial information and other information not included in this Press Release, visit the Company's website at www.intactfc.com and link to "Investors". The conference call is also available by dialing 416-945-7677 or 1-888-699-1199 (toll-free in North America). Please call 10 minutes before the start of the call. A replay of the call will be available on February 12, 2025 at 1:00 p.m. ET until 11:59 p.m. ET on February 19, 2025. To listen to the replay, call 289-819-1450 or 1-888-660-6345 (toll-free in North America), entry code 09807. A transcript of the call will also be made available on Intact Financial Corporation's website.

About Intact Financial Corporation

Intact Financial Corporation (TSX: IFC) is the largest provider of Property and Casualty (P&C) insurance in Canada, a leading Specialty lines insurer with international expertise and a leader in Commercial lines in the UK and Ireland. The business has grown organically and through acquisitions to almost $24 billion of total annual operating direct premiums written (DPW).

In Canada, Intact distributes insurance under the Intact Insurance brand through agencies and a wide network of brokers, including its wholly- owned subsidiary BrokerLink. Intact also distributes directly to consumers through the belairdirect brand and affinity partnerships. Additionally, Intact provides exclusive and tailored offerings to high-net-worth customers through Intact Prestige.

In the US, Intact Insurance Specialty Solutions provides a range of Specialty insurance products and services through independent agencies, regional and national brokers, wholesalers and managing general agencies.

Across the UK, Ireland, and Europe, Intact provides Personal, Commercial and/or Specialty insurance solutions through the RSA, 123.ie, NIG and FarmWeb brands.

Non-GAAP and other financial measures

Non-GAAP financial measures and Non-GAAP ratios (which are calculated using Non-GAAP financial measures) do not have standardized meanings prescribed by IFRS (or GAAP) and may not be comparable to similar measures used by other companies in our industry. Non-GAAP and other financial measures are used by management and financial analysts to assess our performance. Further, they provide users with an enhanced understanding of our financial results and related trends, and increase transparency and clarity into the core results of the business.

Non-GAAP financial measures and Non-GAAP ratios used in this Press Release and other Company's financial reports include measures related to our consolidated performance, underwriting performance and financial strength.

For more information about these supplementary financial measures, Non-GAAP financial measures, and Non-GAAP ratios, including definitions and explanations of how these measures provide useful information, refer to Section 29 â?? Non-GAAP and other financial measures in the Q4-2024 MD&A dated December 31, 2024, which is available on our website at www.intactfc.com and on SEDAR+ at www.sedarplus.ca.

Table 1  Reconciliation of NOI, NOIPS and OROE to Net income attributable to shareholders

Table 2  Reconciliation of underwriting results on a MD&A basis with the Consolidated financial statements (quarterly)

Reconciling items in the table above:

Table 3  Reconciliation of underwriting results on a MD&A basis with the Consolidated financial statements (for the year)

Reconciling items in the table above:

Table 4  Reconciliation of ROE to Net income attributable to shareholders

Table 5  Reconciliation of consolidated results on a MD&A basis with the Consolidated financial statements (quarterly)

Table 6  Reconciliation of consolidated results on a MD&A basis with the Consolidated financial statements (for the year)

Table 7  Reconciliation of AEPS and AROE to Net income attributable to shareholders

Table 8  Calculation of BVPS and BVPS (excluding AOCI)

Table 9  Adjusted average common shareholders' equity and Adjusted average common shareholders' equity, excluding AOCI

Table 10    Reconciliation of Total debt outstanding before hybrid subordinated notes and Total capital to Debt outstanding, Equity attributable to shareholders and Equity attributable to NCI

Forward Looking Statements

Certain statements made in this news release are forward-looking statements. These statements include, without limitation, statements relating to the outlook for the Property and Casualty insurance industry in Canada, the U.S. and the U.K., the Company's business outlook, the Company's growth prospects and the integration of Direct Line Insurance Group plc's brokered Commercial lines operations. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws.

Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements as a result of various factors, including those discussed in the Company's most recently filed Annual Information Form dated February 11, 2025 and available on SEDAR+ at www.sedarplus.ca. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against relying on any of these forward-looking statements. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Please read the cautionary note at the beginning of the Q4-2024 MD&A.

SOURCE Intact Financial Corporation

SOURCE: Intact Financial Corporation

Media Inquiries: Caroline Audet, Manager, Media Relations and Public Affairs, 416
227-7905 / 514 985-7165, media@intact.net; Investor Inquiries: Geoff Kwan, Deputy
SVP, Finance and Chief Investor Relations Officer, 1-866-440-8300 ext. 20022,
ir@intact.net

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