We are one of the leading P&C insurers in Canada, with more than one million policies in force across the country. We are the seventh largest provider of P&C insurance in Canada, with a market share of 4.3%1. We had approximately $3.0 billion in gross written premiums (“GWP”) for the 12 months ending June 30, 2021.
1Based on market share by DWP. See “Market, Industry and Economic Data” in our Base Prospectus.
We offer both personal and commercial insurance products. Through our personal lines insurance operations, which represented 74% of our GWP in 2020, we offer auto, property, liability, and pet insurance products to individual customers. Our commercial lines insurance offering, which represented 26% of our GWP in 2020, includes fleet, individually-rated commercial auto, property, liability, and specialty insurance products, which are provided to businesses of all sizes in Canada.
As a multi-channel insurer, we distribute our products on a primarily intermediated basis, through brokers, as well as directly to customers. We have active relationships with a network of approximately 700 independent brokerage firms and a broker base of more than 27,000 individual brokers. Our direct distribution channel includes Sonnet Insurance, through which we launched our digital direct insurance platform in 2016; our pet insurer, Petline Insurance, which we acquired in 2017; and portions of our group insurance offering. In 2020, broker and direct distribution represented 89% and 11%, respectively, of our total GWP.
We have a national presence and conduct our business in all provinces and territories of Canada. Ontario is our largest market, representing 59% of our GWP in 2020. We had approximately 2,700 employees in 12 regional locations across Canada as of June 30, 2021.
As publicly traded instruments, these securities are available through regular retail brokerage investment services. Definity Financial Corporation does not offer direct investing.
Definity has arranged for Computershare Investor Services Inc. to assist eligible policyholders who received common shares as part of demutualization in selling their shares. Download this document (PDF) to learn more about our share selling service and your options as a Definity shareholder.
On November 23, 2021, we completed the demutualization of Economical Mutual Insurance Company and the initial public offering (IPO) of our new parent company, Definity Financial Corporation (TSX: DFY). As a result, we distributed financial benefits in accordance with the Conversion Plan (PDF) that was approved by eligible policyholders. To find out more about demutualization, visit this webpage or call 1-866-302-6046.