(Corrects to show company beat estimates, rather than missed, in first paragraph and corrects figures in third paragraph)
* Insurer takes C$103 million hit from floods
* Operating income beats estimates
TORONTO, July 31 Intact Financial Corp's second-quarter profit fell 20 percent, but topped estimates, as the insurer took losses from heavy flood damage in the province of Alberta in June.
Intact, Canada's largest property and casualty insurer, said on Wednesday that net profit was C$103 million ($100.09 million), or 73 Canadian cents per share, down from C$129 million, or 95 Canadian cents per share, a year earlier.
Operating income was 89 Canadian cents a share. Analysts on average had expected 73 Canadian cents, according to Thomson Reuters I/B/E/S.
The Toronto-based company took a C$105 million loss from the Alberta floods, which displaced more than 100,000 in Calgary and left the core of the city without power for days. Intact warned of the flood impact last week.
Direct premiums written rose 10 percent to C$2.2 billion, boosted by the acquisition last year of recreational vehicle insurer Jevco. Underwriting income fell 66 percent to C$42 million.
($1 = 1.0291 Canadian dollars) (Reporting by Cameron French; Editing by Lisa Von Ahn)