Travelers Completes Sale of Canadian Personal Insurance Business and Majority of Its Canadian Commercial Insurance Business to Definity

NEW YORK--(BUSINESS WIRE)--The Travelers Companies, Inc. (NYSE: TRV) today completed its previously announced sale of the personal insurance business and the majority of the commercial insurance business of Travelers Canada to Definity Financial Corporation (TSX: DFY) for approximately US$2.4 billion. Travelers, which is the largest surety writer in North America, has retained its premier Canadian surety business.

Travelers expects to use approximately US$0.7 billion of the net cash proceeds of the transaction for additional share repurchases in 2026, while retaining the remainder to support ongoing operations and for general corporate purposes. The transaction and resulting share repurchases are expected to be slightly accretive to the company’s earnings per share in 2026 and each of the next several years.

Jefferies LLC and Przygoda & Co. LLC acted as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP and Stikeman Elliott LLP served as legal advisors to Travelers in this transaction.

Forward-Looking Statements
All statements in this press release other than statements of historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These include, among others, statements regarding the use of proceeds, including share repurchases, and the financial impact of the sale. Actual results of matters addressed in these forward-looking statements involve risks and uncertainties and may differ substantially from those expressed or implied. Some of the factors that could cause actual results to differ are discussed under the heading “Risk Factors” and “Forward-Looking Statements” in the company’s most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this press release, and we undertake no obligation to update any forward-looking statements.

About Travelers
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of more than $46 billion in 2024. For more information, visit Travelers.com.