Intact Financial profit falls 40 pct

Wed Feb 5, 2014 7:07am EST
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Feb 5 (Reuters) - Intact Financial Corp, Canada's largest property and casualty insurer, reported a 40 percent drop in fourth-quarter profit, hurt mainly by severe winter weather, but raised its dividend.

Toronto-based Intact said net income fell to C$107 million ($97 million), or 77 Canadian cents per share, in the quarter ended Dec. 31, from C$177 million, or C$1.29 per share, a year earlier.

On an operating basis, Intact earned C$1.05 per share.