Reinsurance News

Definity Financial Corporation

Travelers completes sale of Canadian personal & majority of commercial arm to Definity

5th January 2026

The Travelers Companies, Inc., a provider of property and casualty insurance, has completed the sale of the personal insurance business and the majority of the commercial insurance business of Travelers Canada to Definity Financial Corporation for approximately $2.4 billion. The sale was initially announced in May 2025. Travelers has retained ... Read the full article

Travelers to sell Canadian personal & most of commercial arm to Definity Financial

28th May 2025

Property and casualty insurer, The Travelers Companies, Inc., has agreed to sell the personal insurance business and the majority of the commercial insurance business of Travelers Canada to Canadian property and casualty insurer Definity Financial Corporation for approximately $2.4 billion. The transaction is expected to close in the first quarter of ... Read the full article

Swiss Re agrees sale of Definity stake for CAD 655m

18th March 2025

Swiss Re, one of the world's largest reinsurance companies, has agreed to sell all of its 11,647,217 common shares in Canada's Definity Financial Corp. for approximately CAD 655 million. The common shares, which represent approximately 10.05% of the issued and outstanding common shares of Definity as of March 17th, 2025, are ... Read the full article

AM Best revises outlooks to positive for Definity Financial Corporation & it’s subsidiary

20th December 2023

Global credit ratings agency, AM Best, has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of Definity Insurance Company (Definity Insurance). At the same time, the agency has also revised the outlooks to positive from stable ... Read the full article

Definity erodes aggregate reinsurance treaty as Q3 catastrophe losses hit CAD122m

6th October 2023

Canadian property and casualty insurer, Definity Financial Corporation, has reported estimated catastrophe losses for Q3 2023 of CAD122 million, with events in the quarter leading to the full erosion of its catastrophe aggregate reinsurance treaty limit for the year. The company warns that the estimated cat losses will negatively impact operating ... Read the full article

Definity estimates $120m of cat losses for July-Aug 23

5th September 2023

Canadian Property and casualty insurer, Definity Financial Corporation, has released an estimate of approximately $120 million in catastrophe losses that will impact its operating income negatively in July and August 2023. This estimate is net of reinsurance recoveries and includes reinstatement premiums. The company confirmed that the British Columbia wildfires were the ... Read the full article

Definity adds former Swiss Re Group CUO Schmid to Board

22nd December 2021

Multi-channel insurance carrier, Definity Financial Corporation, has added Edouard Schmid, formerly the Group Chief Underwriting Officer (CUO) of reinsurance giant Swiss Re, to its Board of Directors. Swiss Re Investments Holding Company Ltd, part of the global reinsurer which nominated Schmid to the Board, holds approximately 9.9% of Definity's common shares. Schmid ... Read the full article