Canada flood losses News

Intact Financial Corp., Canada’s largest property and casualty insurer, reported a more than four-fold rise in quarterly profit, helped by a sharp fall in catastrophe losses. The company’s profit last year was hurt by severe rain storms in the Toronto …

Floods caused billions of dollars in losses and dominated the natural catastrophe statistics for the first half of 2013, according to a study released by Munich Re. “Around 47 percent of the overall losses and 45 percent of the insured …