Full-Time
Canadian property and casualty insurance provider
No salary listed
Senior
Toronto, ON, Canada
In Person
Definity Financial provides property and casualty insurance solutions in Canada, catering to both individual policyholders and businesses. The company offers a variety of insurance products designed to meet the changing needs of its clients. Definity operates through multiple channels, allowing for a comprehensive approach to coverage. Its products work by assessing risks and providing tailored insurance plans that protect against potential losses. What sets Definity apart from its competitors is its commitment to digital transformation and continuous improvement, which enhances its market capabilities. The company's goal is to help customers, broker partners, employees, and communities adapt and thrive in a rapidly changing environment while driving growth and profitability through strategic investments.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Canada
Founded
1871
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Hybrid Work Options
Definity Financial Corporation completed a private placement of common shares, raising approximately $309 million CAD. The shares were issued to accredited investors and exempt purchasers, with a four-month hold period. Additionally, the Healthcare of Ontario Pension Plan Trust Fund purchased 1,151,256 shares. The funds will help finance Definity's $3.3 billion CAD acquisition of Travelers' Canadian operations, excluding its surety business.
Definity Financial Corporation has agreed to acquire most of Travelers Canada for $3.3 billion, making it the fourth largest property and casualty insurer in Canada.
Toronto stocks were flat at midday, with the S&P/TSX Composite Index at 26,273.09. Definity Financial shares rose over 11% to C$77.17 after increasing its private placement to C$385 million for acquiring Travelers' Canadian operations. National Bank of Canada saw a profit drop due to charges but beat earnings expectations, with shares up 3.9% to C$134.39. Bank of Montreal shares rose 2% to C$147.81 after a 2.5% dividend increase.
(The Insurer) - Definity Financial Corporation has agreed a definitive C$3.3 billion ($2.4 billion) cash deal to acquire all but the surety unit of Travelers Canada in a deal that would establish the Waterloo, Ontario-based insurer as the country’s fourth largest P&C carrier.Travelers Canada genera…
NEW YORK-(BUSINESS WIRE)-The Travelers Companies, Inc. (NYSE: TRV) today announced that it has signed a definitive agreement to sell the personal insurance business and the majority of the commercial insurance business of Travelers Canada to Definity Financial Corporation (TSX: DFY) for approximately US$2.4 billion.