By Adriano Marchese
Intact Financial Corp. shares rose in early trading Wednesday after the company beat expectations in the fourth quarter.
At 9:48 a.m. ET, shares were up 2.3% at C$182.02.
On Tuesday after markets closed, the Canadian insurance company reported operating per-share earnings of 3.78 Canadian dollars, a 19% increase over the same time in the previous year and beating analyst expectations of C$2.59.
The company credited robust underwriting and distribution income, and accretion from its acquisition of RSA Insurance Group.
Return on equity was 17%, up from 12.8%.
The company also declared a 10% increased quarterly dividend of C$1.00.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
02-09-22 1011ET