Alberta Wildfire Drives Intact Financial Down Most Since January
- 19% of Intact's direct premiums in first quarter from Alberta
- Firm insures 1500 houses, 1300 condos, 300 businesses in area
Fire Forces Evacuation of Canadian Oil Sands City
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Intact Financial Corp., Canada’s largest property and casualty insurer, had its biggest drop in more than three months as a wildfire ravages an area in Alberta where the company insures homes, cars and businesses.
The insurer slipped 3.8 percent to C$87.92 at 12:35 p.m. in Toronto, the biggest drop since January. A wildfire in Fort McMurray, Alberta’s oil-producing capital, has already caused the largest fire-related evacuation in the province’s history and destroyed about 7,686 hectares (30 square miles) of land.