Transaction includes Travelers’ personal lines and most commercial insurance operations.
The Travelers Companies Inc. will sell most of its Canadian insurance operations to Definity Financial Corporation for approximately CA$3.3 billion ($2.4 billion), the companies announced May 27. The transaction includes Travelers’ personal insurance business and the majority of its commercial insurance operations in Canada. Travelers Canada generates approximately CA$1.6 billion in annual gross written premiums and ranks 12th among Canadian property and casualty insurers.
The deal excludes Travelers’ Canadian surety business, which the company will retain. Travelers is the largest surety writer in North America.
“This transaction is a reflection
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