TORONTO - Intact Financial has filed a shelf prospectus that will allow it to offer up to $3 billion in a combination of debt, preferred or common shares, warrants and the like over the next 25 years.
Intact also filed a supplement to its prospectus that would allow it to issue up to $850 million in medium-term notes.
The prospectus replaces one that was filed in July 2011 but has since expired.
The Toronto-based property and casualty insurer saw its net operating income fell 32 per cent to $123 million in the most recent quarter, largely due to storms and flooding in Alberta.
The company warned last month that it expected to take a hit in both the second and third quarter from claims related to the Alberta floods, the flash flood in Toronto and the Lac-Megantic train crash in Quebec in early July. It said it will be boosting premiums for home insurance products this fall in light of the increasing prevalence of weather-related catastrophes.
Shares of Intact Financial closed down 19 cents to $62.37 on the Toronto Stock Exchange Wednesday.
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