Intact Financial profit soars on investment gains

Wed Feb 6, 2013 7:13am EST
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Feb 6 (Reuters) - Canadian property and casualty insurer Intact Financial Corp said fourth-quarter profit more than doubled, helped by higher investment gains.

Intact, Canada's largest property and casualty insurer, earned C$181 million, or C$1.32 per share, in the quarter ended Dec 31., up from C$84 million, or 62 Canadian cents per share, a year earlier.

On an adjusted basis, it earned C$1.51 per share

Net investment gains were C$30 million in the fourth quarter, compared with a loss of C$7 million a year earlier.