The Canadian Press

Favourable weather gave Co-operators General Insurance Co. an extra boost in the fourth quarter, and helped the privately-held insurance company deliver a fourth-quarter profit.

The Guelph, Ont.-based firm reported that it quarterly profit was $82.6 million, or $3.86 per share, an increase from a year-ago net loss of $14.3 million or 87¢ per share.

“Our results were positively impacted by favourable weather conditions and claims development in the fourth quarter and the positive Supreme Court of Canada decision on the Alberta minor injury cap legislation,” said president and CEO Kathy Bardswick in a release.

“We experienced premium growth across all product lines and regions despite the very challenging economic environment. Our capital levels remain strong providing us with a solid foundation for the future.”

Co-operators said full-year profits were $74 million compared to $52.8 million in 2008. The results were worth or $3.02 per share versus or $2.21 a share a year earlier.

The firm said it’s still facing challenges from higher losses filed for home insurance, and persistently higher auto accident claims in the Toronto area.