Overview

• The $3.3 billion deal requires clearance from federal regulators and the Competition Bureau, with closing expected in the first quarter of 2026.
• Financing comprises $1.5 billion from Travelers’s balance sheet, $1.6 billion in new debt, $281 million through a public share sale and a $70 million equity investment by HOOPP.
• Definity’s annual gross written premiums will rise to about $6 billion, moving it from sixth to fourth among Canadian property and casualty insurers.
• The acquisition adds roughly $600 million in commercial premiums and introduces marine, cyber and professional liability lines while retaining all 1,400 Travelers Canada staff.
• Travelers will keep its Canadian surety business and Definity plans to fold remaining operations into its existing brands post-close.