Northwire Canada EditionThursday, October 15, 2026
Sign inSubscribe
Northwire
⌕
GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4% GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4%
Earnings

Intact Financial Corporation reports Q4-2025 results

By The Northwire Desk — AI Analysis Feb 10, 2026 · 17:01 IFC · 263.55 INTACT FINANCIAL CORPORATION
IFC · Price

Executive Summary

  • Intact Financial reported Q4‑2025 net operating income per share of $5.50, up 12% YoY, and EPS of $5.24, up 46% YoY.
  • Combined ratio improved to 85.9% (down 0.6 pts YoY), reflecting strong underwriting performance across all geographies.
  • The Board increased the quarterly common share dividend to $1.47 per share (an $0.14 increase) – the 21st consecutive annual dividend increase.

Key Details

  • Operating Results
  • Net operating income attributable to common shareholders: $979 M, +11% YoY.
  • Underwriting income: $850 M, +11% YoY; underwriting margin improved (combined ratio 85.9%).
  • Operating DPW grew 4% YoY to $6,029 M (constant‑currency).

  • Net income: $961 M, +44% YoY.

  • Profitability Metrics

  • Book value per share (BVPS): $107.35, up 16% YoY and 4% sequentially.
  • Operating ROE: 19.5% (up 3.0 pts YoY).

  • Adjusted debt‑to‑total‑capital ratio: 16.5%, down from 19.4% YoY.

  • Dividend Information

  • Quarterly common share dividend: $1.47 per share, payable March 31 2026 (record date March 17 2026).

  • Preferred share dividends approved for multiple series (e.g., Class A Series 13 at $25.00 per share, gross proceeds $150 M).

  • Capital Management

  • Normal Course Issuer Bid (NCIB) repurchased 732,339 common shares for $198 M in 2025.

  • Board authorized renewal of NCIB to repurchase up to 3% of outstanding common shares over the next 12 months (effective Feb 17 2026).

  • Segment Performance

  • Canada DPW: $4,207 M, +6% YoY; combined ratio 84.4%.
  • UK&I DPW: $1,165 M, –2% YoY; combined ratio 93.5%.

  • US DPW: $657 M, +5% YoY; combined ratio 82.8%.

  • Balance Sheet

  • Total capital margin: $3.7 B, up $832 M YoY.

  • Adjusted debt‑to‑total‑capital ratio improved to 16.5% (down 2.9 pts).

  • Outlook & Guidance

  • Management reaffirmed confidence in achieving 500 bps ROE outperformance and 10% annual NOIPS growth over the next decade.

  • Industry premium growth expectations: high‑single‑digit to low‑double‑digit in Canadian personal lines; low‑to‑mid‑single‑digit in commercial/specialty lines.

  • Conference Call

  • Earnings call scheduled for Feb 11 2026, 11:00 a.m. ET (live webcast and replay details provided).

Notable Quotes

“We ended 2025 in a position of strength… The strength of our performance and outlook enables us to increase dividends … for the 21st consecutive year.” – Charles Brindamour, CEO

Read the original news release →

More from INTACT FINANCIAL CORPORATION

Jun 16, 2026 · 10:00

Intact’s storm-prep PR underscores a defensive positioning strategy, but offers no new financial catalysts to justify a re-rate.

Other May 21, 2026 · 11:23

Intact Credit Ratings Affirmed as Underwriting Margins Face Catastrophe Headwinds

Other May 07, 2026 · 12:00

Intact Financial Q1 Earnings Mask UK&I Underwriting Drag as Stock Tests Support Levels

Production / Operations May 05, 2026 · 17:01

Intact Financial Q1 Earnings Beat on Pricing Power, Yet UK&I Losses Persist as Drag

Earnings Feb 12, 2026 · 22:05

Intact Financial Corporation Announces Private Placements of $250 Million Medium Term Notes and $250 Million Limited Recourse Capital Notes and Intention to Redeem 4.125% Subordinated Notes, Series 1

Financings Feb 12, 2026 · 08:00

Intact Financial Corporation announces approval for normal course issuer bid

Other