US EditionDefinity Signs Deal to Buy Travelers' Canadian Operations for $3.3 Billion
- Definity Financial Corp. Announced a $3.3 billion deal to acquire most of Travelers' Canadian operations on May 28, 2025.
- Definity pursued the acquisition to expand its market share and implement its strategy to build a larger Canadian property and casualty insurer.
- The transaction will increase Definity’s yearly gross written premiums by $1.6 billion, with an additional $1 billion contributed to personal lines and $600 million added to commercial lines.
- Definity CEO Rowan Saunders described the deal as transformative and highlighted the combined entity’s technological benefits for brokers.
- Subject to regulatory approvals, the acquisition will elevate Definity to the fourth-largest Canadian P&C insurer and is expected to close in early 2026.
16 Articles
16 Articles
Definity signs deal to buy Travelers' Canadian operations for $3.3 billion
WATERLOO — Definity Financial Corp. says it will acquire most of the Canadian operations of U.S. insurance firm Travelers for $3.3 billion. Definity says the deal will make it the fourth largest property and casualty insurer in Canada. The agreement will give the Waterloo, Ont.-based firm an additional $1.6 billion in annual gross written premiums. […]
Travelers to sell Canadian personal & most of commercial arm to Definity Financial
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 2026, subject to regulatory approvals and other customary closing conditions. Travelers explaine…
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