Q: Hi,
With insurance claims due to climate change appearing to increase rapidly, what is your take on the prospects of Intact as a property and casualty insurer. My thought would be that property insurance is a shrinking market as insurers appear to abandon markets due to increase risk (e.g., Florida and California). Even locally insurers are starting to refuse to cover properties against flooding. What is the long-term business case for investing in IFC? Thank you. Michael
With insurance claims due to climate change appearing to increase rapidly, what is your take on the prospects of Intact as a property and casualty insurer. My thought would be that property insurance is a shrinking market as insurers appear to abandon markets due to increase risk (e.g., Florida and California). Even locally insurers are starting to refuse to cover properties against flooding. What is the long-term business case for investing in IFC? Thank you. Michael
5i Research Answer:
Canada is 65% of revenue, and though we have our issues flooding, fires and hurricanes are less...