TD Bank Group expects $36m in catastrophe claims for Q3’25

TD Bank Group expects catastrophe claims of approximately $36 million, after reinsurance and before tax, to be reflected in its Wealth Management & Insurance segment results for the third quarter.

This is significantly lower than the $186 million in catastrophe claims reported in the third quarter of 2024.

In Q2 2025, the Bank reported $50 million in catastrophe claims.

The company defines catastrophe claims as insurance claims from a single event in the fiscal quarter where aggregate claims meet or exceed an internal threshold of $5 million before reinsurance, though this threshold may change from time to time.

The reported figure represents the estimated pre-tax cost of these claims, net of recoveries from related reinsurance coverage, and, where applicable, includes the cost of reinsurance reinstatement premiums.

The total amount of catastrophe claims are included in Insurance service expenses and amounts related to reinsurance coverage are reported under Other income (loss) in the Bank’s Consolidated Statement of Income.