Canadian insurer Intact's quarterly profit nearly doubles
Feb 4 (Reuters) - Intact Financial Corp, Canada's largest property and casualty insurer, reported a near-doubling in quarterly profit, boosted by strong growth in underwriting income.
The company's net income rose to C$205 million ($164.8 million), or C$1.52 per share, in the fourth quarter ended Dec. 31, from C$107 million, or 77 Canadian cents per share, a year earlier.
Underwriting income jumped to C$216 million from C$67 million, as catastrophe losses fell by C$45 million.
Net operating income rose 73 percent to C$247 million, or C$1.84 per share. ($1 = 1.24 Canadian dollars) (Reporting By Tanvi Mehta and Ashutosh Pandey in Bengaluru; Editing by Ted Kerr)
© Thomson Reuters 2017 All rights reserved.