The insurer has announced its fourth quarter 2022 results.

The Toronto-Dominion Bank has released its Q1 results, which include a $1.6 billion provision.

Launched in 2016, this index measures the frequency of extreme weather and sea level change.

The results were dragged by higher claim frequency and harsher weather conditions than in 2021.

The derecho last May and Hurricane Fiona in September weighed on the insurer’s claims experience in 2022.

In Individual Wealth Management, a downturn in net premiums sapped profitability in 2022.

After passing the $3 billion mark in 2021, the insurer kept the momentum in 2022, bolstered by Q4 results.