Overview

• Definity will fund the $3.3 billion deal with $1.5 billion from Travelers’ balance sheet, $1.6 billion in new debt and $351 million in equity sales including a $70 million stake to HOOPP.
• The purchase adds about $1.6 billion in annual gross written premiums, moving Definity from sixth to fourth among Canada’s property and casualty insurers.
• Definity plans to retain all 1,400 of Travelers Canada’s employees and integrate their operations under one brand while Travelers keeps its Canadian surety business.
• The transaction brings new specialty lines to Definity’s portfolio, including marine insurance, cyber coverage and professional liability.
• The deal remains subject to approval by regulators and the federal Competition Bureau and is slated to close in the first quarter of 2026.