Intact Monetary experiences web earnings of $447 million, income of $5.3 billion

TORONTO – Intact Monetary Corp. says its web earnings fell within the first quarter in contrast with a 12 months in the past whereas its revenues rose.

The insurer says it had a web earnings of $447 million for the quarter ending March 31, in contrast with $514 million for a similar quarter final 12 months.

Earnings got here in at $2.53 per share, down from $3.51 per share final 12 months.

Internet working earnings per share, nevertheless, was up 13 per cent to $2.70 in contrast with the $2.40 per share in the identical quarter final 12 months.

Revenues totalled $5.3 billion for the quarter, up from $3.05 billion within the first quarter final 12 months.

Analysts had anticipated income of $4.86 billion and web earnings of $397.6 million, in accordance with monetary markets information agency Refinitiv.

This report by The Canadian Press was first printed Might 10, 2022.

Firms on this story: (TSX:IFC)

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