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Canada: Severe weather hits Co-operators General Insurance's fourth-quarter earnings

February 18, 2014 - 6:00am

Canada-based Co-operators General Insurance Co. saw its net income drop 35.5% year-on-year to $74.6 million Canadian ($70 million) in the fourth-quarter of 2013, Brandon Sun reported.

The huge drop in earnings reflects the effects of December 2013 ice storms in Ontario and Quebec. The insurer's full-year net income fell 66% to CAD 88.9 million.

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