We are one of the leading P&C insurers in Canada, offering auto, property, liability, pet, and specialty insurance solutions through multiple distribution channels. We are the sixth largest provider of P&C insurance in Canada, with approximately $4 billion in gross written premiums (“GWP”) for the year ending December 31, 2023.
We offer both personal and commercial insurance products. Through our personal lines insurance operations, which represented 69% of our GWP in 2023, we offer auto, property, liability, and pet insurance products to individual customers. Our commercial lines insurance operations, which represented 31% of our GWP in 2023, 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 over 600 independent brokerage firms and a broker base of more than 30,000 individual brokers. Our direct distribution channel includes Sonnet Insurance (“Sonnet”); our pet insurer Petline Insurance (“Petline”); and portions of our group insurance offering. In 2023, broker and direct distribution represented 89% and 11%, respectively, of our total GWP.
We have a national presence and conduct business in all provinces and territories of Canada. Ontario is our largest market, representing 57% of GWP in 2023.
As publicly traded instruments, these securities are available through regular retail brokerage investment services. Definity Financial Corporation does not offer direct investing.
The common shares of Definity Financial Corporation (TSX: DFY) debuted on the Toronto Stock Exchange on November 23, 2021, in connection with the demutualization of Economical Insurance. Definity's common shares were added to the S&P/TSX Composite Index, the headline index and principal benchmark for the Canadian equity markets, prior to the market open on June 20, 2022.
Yes we do. We intend to have a sustainable and growing quarterly dividend per common share that will be reviewed on a regular basis. More details can be found here.
Yes. We’ve engaged Georgeson Shareholder Communications Canada Inc. (Georgeson) and their Asset Reunification® program to help us locate eligible policyholders and reunite them with their unclaimed demutualization benefits. Please follow the instructions on the letter.
For more information, please visit economical.com/demutualization .