Travelers Announces Sale of Canadian Insurance Business to Definity

Details

(TRV) announced the sale of its Canadian personal and commercial insurance businesses to Definity Financial Corporation for approximately US$2.4 billion. The transaction, expected to close in Q1 2026, includes the repatriation of US$0.8 billion of excess local capital. Travelers will retain its Canadian surety business. The company plans to use US$0.7 billion of the net cash proceeds for share repurchases in 2026, with the remainder supporting ongoing operations and general corporate purposes. The transaction is expected to be slightly accretive to earnings per share in the coming years. Regulatory approvals and customary closing conditions apply.

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About Travelers Companies, Inc.

Travelers Companies, Inc. is a leading provider of property and casualty insurance products and services, primarily focusing on coverage for personal, business, and specialty insurance segments. As one of the largest insurance corporations in the United States, Travelers offers a wide range of insurance solutions, including home, auto, and commercial insurance, tailored to meet the diverse needs of individual policyholders and enterprises across various sectors. The company plays a critical role in providing financial protection against potential losses due to unforeseen events, helping mitigate risks for its clients. With a rich history dating back to 1853 and headquartered in New York City, Travelers is recognized for its robust financial strength, underwriting excellence, and extensive distribution capabilities. It serves customers through a network of independent agents and brokers, ensuring comprehensive risk management support. In the financial market, Travelers Companies, Inc. is esteemed for its stable insurance operations and consistent performance, making it a significant participant in the property and casualty insurance industry.