Co-operators General Insurance Company reports receiving 800 claims related to Slave Lake, Alberta wildfires

Co-operators General Insurance Company (Co-operators General) has thus far settled about 62% of 800 claims it has received related to the Slave Lake, Alberta wildfires.
“After-tax losses from the Slave Lake event totaled approximately $31 million net of reinsurance,” said Kathy Bardswick, president and CEO of The Co-operators, in a press release announcing the company’s 2011 Q2 results.
“The cost of this tragedy and storm losses in the second quarter were partially offset by improving claims experience in Ontario auto insurance, and net investment gains and income which increased by $24.8 million to $45.1 million compared to the same quarter last year.”
The company’s consolidated net income in 2011 Q2 was $26.4 million, compared to a net loss of $2.6 million for the same quarter in 2010.
This resulted in earnings per common share of $1.06 for the quarter compared to $(0.38) in the same period last year.