Reinsurance News

Definity

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

Definity Financial expects cat losses of CAD 50m in Q1’25

15th April 2025

Canadian property and casualty insurer Definity Financial Corporation has disclosed that catastrophe losses in the first quarter of 2025 would negatively impact operating income by approximately CAD 50 million, net of reinsurance recoveries. The insurer stated that this amount was approximately double of what it expected based on first quarter historical ... 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

Definity estimates $150m in cat losses from events in July & August

27th August 2024

Canadian property and casualty insurer Definity Financial Corporation has estimated a negative impact on operating income of approximately $150 million, net of reinsurance recoveries, arising from catastrophe losses in July and August 2024. The estimated losses account for approximately $0.97 per common share, net of taxes and reinsurance. The reinsurance recoveries include ... 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

Swiss Re to invest $200mn in Economical Insurance’s new parent Definity: report

1st September 2021

Global reinsurer Swiss Re is set to invest USD 200 million in a new parent company called Definity, which prior to the closing of its initial public offering (IPO) will oversee Economical Insurance following the completion of its demutualization, according to reports. Definity Financial Corporation is a newly-created entity incorporated under ... Read the full article