DEFINITY FINANCIAL CORPORATION COMPLETES PREVIOUSLY ANNOUNCED TRAVELERS TRANSACTION

Executive Summary

• Definity Financial Corporation completed the acquisition of The Travelers Companies’ Canadian personal insurance business and the majority of its commercial insurance business (excluding surety).
• The transaction creates a larger, integrated property‑and‑casualty insurer positioned as a “Canadian champion.”
• RBC Capital Markets acted as financial advisor; Blake, Cassels & Graydon LLP served as legal counsel.

Key Details

• Transaction Scope: Acquisition of Travelers’ Canadian personal insurance business and the majority of its commercial insurance business (surety excluded).
• Seller: The Travelers Companies, Inc. (NYSE: TRV).
• Buyer: Definity Financial Corporation (TSX: DFY).
• Completion Date: January 2 2026 (press release date).
• Strategic Rationale: Expand Definity’s market share in personal and commercial lines, broaden product offerings, and strengthen its position as a leading Canadian P&C insurer.
• Advisors: RBC Capital Markets – financial advisor; Blake, Cassels & Graydon LLP – legal advisor.
• Financial Impact (as disclosed): Not quantified in the release; however, Definity previously reported $4.7 billion in gross written premiums and $4.0 billion in equity attributable to common shareholders for the 12‑month period ended September 30 2025.

Notable Quotes

• “Today marks a new era for Definity as we complete this milestone acquisition,” said Rowan Saunders, President & CEO of Definity.
• “We extend a warm welcome to our new colleagues and remain deeply committed to delivering a positive experience for our customers and valued broker partners.”