Investors

Definity’s recent Travelers Transaction elevated the company to a top five P&C insurer in Canada and strengthened its position as the third largest carrier in the broker channel¹. Our enhanced scale strengthens our competitiveness in a fragmented Canadian P&C market and accelerates our journey to build a Canadian Champion. Our national, multi-line and multi-channel business model has been built through a combination of strong pricing, risk selection, and claims management capabilities, and a relentless focus on delivering superior service to our customers and brokers. Our business benefits from both scale and diversification, offering a broad range of P&C insurance solutions for everything from pets to complex commercial operations.

¹Determined on a pro forma basis following completion of the Travelers Transaction

Delivering superior experiences to our customers and brokers is core to our strategy. It drove us to build our leading digital platforms, Sonnet and Vyne. Sonnet, Canada’s first fully digital coast-to-coast P&C insurance platform remains an industry leader, offering clear, easy-to-understand language and real-time processing that enables customers to purchase home or auto insurance in minutes. Vyne enhances our ability to support brokers with modern tools, streamlined workflows, and improved underwriting responsiveness. We have a long-standing presence and key relationships within the broker channel, with significant investments in our underwriting capabilities and expansion of our product lines. Our Claims operation provides customers and brokers with the confidence that we will be there when they need us most. Supported by a dedicated team of approximately 1,500 claims professionals, we offer extensive in-house capabilities, specialized expertise across personal and commercial insurance claims, and a quality repair satisfaction guarantee. From everyday losses to complex commercial claims, we are committed to helping customers recover quickly and confidently through caring, responsive, and efficient service at every stage of the claims journey.

Our innovative digital platforms, Sonnet and Vyne, are driving strong growth and profitability in our personal insurance, Individually Rated Commercial Auto (IRCA), and Small and Medium Enterprise (SME) lines. The automation of our underwriting processes has transformed our business model away from intensive manual processing. What used to require days now occurs in real-time, which helps us meet the expectations of our digitally connected customers and brokers and significantly expands our reach and processing capacity. Our digital platforms are highly scalable and automated, which drives significant operational efficiencies, including lower underwriting and operational costs, as well as a greater ability to uniformly apply underwriting standards to new and recurring business.

Our broker distribution capabilities continue to strengthen as well. We've made great progress in the past few years to develop it into a vehicle to diversify and strengthen the earnings profile of the business. We have scaled our broker platform rapidly to rank among the top 10 brokers in Canada, and we expect continued M&A activity and the organic growth momentum of the business.

We have built a growing and profitable commercial insurance business tailored for the Canadian market. As part of a broader corporate transformation and digitization strategy, we have focused on equipping our commercial lines business with strong underwriting, pricing, and risk selection capabilities, while further strengthening our broker relationships and operational capabilities. We believe that our data management and analytics expertise provide us with a meaningful competitive advantage in segmentation and underwriting. We accelerated this strategy through our transformational Travelers Transaction. This acquisition significantly bolsters our commercial and specialty lines presence, adding approximately half a billion in additional commercial premiums, and further positions us among the top property and casualty insurers in Canada.

We have improved our profitability through underwriting discipline, claims management, and improved risk selection, which has been supported by our use of sophisticated pricing methodologies and deployment of advanced analytics. We are focused on growing our most profitable segments and reducing our exposure to more volatile lines of business. Our digital platforms, which largely underwrite our personal and individually-rated commercial auto products, utilize sophisticated marketing, pricing, and predictive analytic capabilities. Our underwriting process utilizes in-depth customer information, a range of third-party data, and advanced pricing, segmentation, and fraud detection methodologies to integrate personalized offers with a seamless digital customer experience.

Definity enters its next phase of growth with substantial financial capacity, a strengthened balance sheet, and a disciplined capital management framework. Following the close of the Travelers Transaction, we have significantly enhanced our capital resources, liquidity, and leverage capacity, positioning the company to sustain value creation while executing our long-term strategic priorities. Our capital deployment priorities remain unchanged: supporting organic growth, sustaining a growing dividend, and pursuing disciplined M&A in both carrier and distribution channels. The company’s enhanced scale following the Travelers Transaction further supports our ability to reinvest in technology, analytics, and integration while driving long-term Operating ROE expansion. Through prudent leverage, robust capital buffers, and diversified earnings, including an expanding national broker platform, Definity maintains meaningful capacity to fund growth, absorb volatility, and drive sustained shareholder value.

We are led by a team of highly experienced and innovative executives with deep expertise across P&C insurance and an average executive tenure at Definity of approximately eight years, supporting strong continuity and execution. Rowan Saunders, our President and Chief Executive Officer, has over 35 years of experience in the P&C insurance industry and has led us through a period of significant transformation. Our senior leadership team has a proven track record in major enterprise transformation and M&A integration, including leadership roles in Definity’s demutualization and subsequent IPO, demonstrating sophisticated capabilities in governance, strategy, and risk management.