Travelers to Sell Canadian Personal and Commercial Insurance Businesses for $2.4B

Travelers Companies Inc., a leading surety and property casualty insurer founded in Hartford, has entered an agreement to sell its Canadian personal insurance business and most of its Canadian commercial insurance business to Definity Financial Corp. for approximately $2.4 billion.

The transaction is anticipated to close in early 2026, pending regulatory approvals and customary closing conditions. This strategic divestiture follows a challenging first quarter in 2025 for Travelers, which reported a $1.7 billion loss due to the Los Angeles wildfires but still maintained overall profitability. In 2024, Travelers generated over $46 billion in revenues and held a top position among property and casualty insurers in both California and the United States according to regulator rankings. The sale aligns with Travelers' efforts to streamline its North American operations and focus on core markets amid evolving industry dynamics.