05:19 PM EST, 02/11/2025 (MT Newswires) -- Intact Financial ( IFCZF ) after trade Tuesday reported higher fourth-quarter earnings and raised its quarterly dividend while providing a bullish outlook on a supportive 12-month industry outlook.

It reported net income for the quarter of $667 million versus $531 million a year earlier.

Net operating income per share (NOIPS) was $4.93, up from $4.00, and earnings per share diluted was $3.58 compared to $2.78.

The property and casualty insurer's quarterly dividend was increased by $0.12 to $1.33 per share, representing a 10-year compounded annual growth rate of 10%

In a 12-Month Industry Outlook, Intact said it expects the current insurance market conditions to persist in light of elevated catastrophe losses in 2024. In both Personal auto and property lines, the company expects low double-digit premium growth; and In Commercial and Specialty lines across all geographies, it expects mid-single-digit premium growth.

"The $1.5 billion of catastrophe losses incurred this past year from numerous natural disasters further demonstrated the resilience of our platform, as well as our purpose to help people, businesses and society be resilient in bad times. At the same time, we continue to build on our competitive advantages and execute on our growth strategy. Against this backdrop and with the strength of our balance sheet, we are well positioned to deliver a NOIPS growth of 10% annually over time and exceed the industry ROE by 500 basis points. We are also pleased to increase dividends to common shareholders for the 20th consecutive year," Charles Brindamour, Chief Executive Officer, said.

Intact shares closed up $0.35 to $276.23 on the Toronto Stock Exchange.