TD Bank anticipates C$36 million in catastrophe-related insurance claims during the third quarter.
TD Bank Group, a leading financial institution, has announced that it expects catastrophe claims of approximately C$36 million in its Wealth Management & Insurance segment's fiscal Q3 results. This figure is driven by insurance claims related to severe weather-related events, such as hailstorms and wildfires, primarily affecting regions like Alberta and British Columbia in Canada.
The exact nature of the events causing these claims remains undisclosed. However, it's important to note that the $36 million figure reflects the net estimated pre-tax cost after accounting for recoveries from related reinsurance coverage, which helps mitigate the financial impact. The cost of reinsurance reinstatement premiums is also accounted for within this figure.
These claims will be reported as part of Insurance service expenses on TD’s financial statements, while amounts related to reinsurance coverage will be reported under Other income (loss) in the consolidated results.
This amount is significantly lower compared to previous quarters. For instance, Q3 2024 saw $186 million in catastrophe claims, and Q2 2025 had $50 million, indicating some fluctuation in weather-related claim severity.
The rising climate risk and geographical impact, particularly in Alberta and British Columbia, have contributed to these substantial insurance claims. The bank's internal threshold for catastrophe claims may change from time to time.
TD Bank Group, listed on the NYSE under the ticker TD, has recently seen a rating upgrade following its Q2 earnings. The bank's expected Q3 results, including the catastrophe claims, will be released on May 22.
It's worth mentioning that TD Bank Group's stock is still considered a good buy, despite a recent surge, and the catastrophe claims are expected to be reduced by reinsurance.
References:
- TD Bank Group Anticipates Catastrophe Claims of C$36M in Q3 2025
- TD Bank Group's Q3 2025 Catastrophe Claims: A Closer Look
- Climate Risk and Natural Disasters: An Analysis of TD Bank Group's Catastrophe Claims
- TD Bank Group's Stock Remains a Good Buy Despite Recent Surge
- Misconception Clarified: TD Bank Group's Catastrophe Claims are C$36 Million, Not C$36 Billion
The insurance claims, mostly due to severe weather events, have been moved to the Insurance service expenses section in TD Bank Group's upcoming Q3 financial statements, following a net estimated pre-tax cost of approximately C$36 million. This sum is significantly lower than previous quarters, such as Q3 2024 ($186 million) and Q2 2025 ($50 million), highlighting a fluctuation in weather-related claim severity. The bank's business and finance, including its banking and insurance segments, are affected by the rising climate risk and geographical impact, particularly in Alberta and British Columbia. TD Bank Group's stock, listed on the NYSE under the ticker TD, is still seen as a good buy despite a recent surge, with the catastrophe claims expected to be largely offset by reinsurance.
