Property and casualty insurance provider The Travelers Companies, Inc. has completed the sale of Travelers Canada’s personal lines business and most of its commercial lines business to Definity Financial Corporation for approximately C$2.4 billion.
The sale was initially announced in May 2025. Travelers retains its primary Canadian guarantee business.
Travelers will use approximately $700 million of the net cash proceeds from the transaction for additional stock repurchases in 2026, while using remaining funds to support ongoing operations and general corporate purposes.
The deal and resulting share repurchases are expected to be slightly accretive to the company’s earnings per share in 2026 and in future years.
Jefferies LLC and Przygoda & Co. LLC served as financial advisors for the transaction, and Skadden, Arps, Slate, Meagher & Flom LLP and Stikeman Elliott LLP served as legal advisors to Travelers.
