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Intact reports elevated cat and large losses in Q2 2026

The insurer said the unusually high large losses are expected to add a 3-point impact to the underlying 2026 second-quarter loss ratio, net of reinsurance.

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Intact Financial Corporation said catastrophe and large losses were higher than expected in the second quarter, settling $247 million above its pre-tax expectations on a net of reinsurance basis, according to Reinsurance News.

By segment, personal property losses were the largest at $252 million, followed by commercial lines at $37 million and personal auto at $6 million. Region-wise, Canada losses totaled $295 million, driven by weather events including torrential storms that produced flooding plus water and wind damage across multiple areas.

In the United Kingdom and Ireland, Intact reported $121 million of losses, well above expectations, primarily from commercial fires. The company said there were no losses reported in the United States.

Intact confirmed it also saw an unusually high level of large losses in the quarter, and said the impact is expected to add 3 points overall to the underlying current year loss ratio for Q2 2026, with a 3-point effect in Canada personal property, a 3-point effect in Canada commercial lines, and 7 points in UK&I. The insurer said its claims teams and supply chain network were mobilized, and noted the fire and other property losses occurred across various geographies and risk segments without identifiable patterns, per Reinsurance News.

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