Canadian Underwriter


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News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

McDougall’s Drayden Insurance acquires Alberta brokerage

January 3, 2024 by Jason Contant

Alberta brokerage Drayden Insurance has announced the acquisition of Darson Insurance Services in Stony Plain, Alta. Drayden Insurance is a division of Ontario brokerage McDougall Insurance, which itself is a subsidiary of Definity Financial Corporation. In October 2022, Definity increased

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UBI app offers quarterly price adjustments for drivers

September 14, 2023 by Jason Contant

Definity Financial Corporation has launched a usage-based insurance (UBI) product it describes as the first-ever to offer quarterly price adjustments based on recent driving scores. “We wanted to make sure drivers were able to benefit quickly from their safe driving

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News AnnouncementsEarnings / RatingsInsurance

How theft and Alberta’s rate pause affected Definity’s auto portfolio

May 16, 2023 by David Gambrill

Auto theft, inflation, and increased claims frequency due to traffic returning to pre-pandemic levels all contributed to pushing Definity’s combined ratio in personal auto up to 100.9% in 2023 Q1, company executives reported in the company’s earnings call last week.

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News BrokersEarnings / RatingsInsuranceMergers and Aqcuisitions

McDougall-McFarlan merger just the beginning for Definity

May 15, 2023 by David Gambrill

McDougall’s $232-million merger with Ontario brokerage McFarlan Rowlands last week is only the beginning for Definity, which is seeking more M&A growth to put it into the Top-5 P&C insurance companies in Canada. In its 2023 Q1 earnings call, Definity

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News BrokersInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Definity’s McDougall merges with McFarlan Rowlands 

May 8, 2023 by Jason Contant

Large Ontario brokerage McDougall Insurance Brokers Limited, a subsidiary of Definity Financial Corporation, has merged with another large provincial brokerage — McFarlan Rowlands Insurance Brokers Inc.  The combination of McDougall and McFarlan Rowlands represents more than $700 million in annual

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News ClaimsEarnings / RatingsInsurance

How four P&C insurers closed out 2022

March 8, 2023 by Alyssa DiSabatino

Four of Canada’s publicly-traded insurance companies — Intact Financial Corporation, Definity Financial Corporation, Fairfax Financial Holdings Limited, and Trisura Group — reported strong underwriting performance and “very good” combined ratios for the final quarter of 2022, DBRS Morningstar says in

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News BrokersInsuranceMergers and Aqcuisitions

Definity’s plans for brokerage, insurer M&A

November 28, 2022 by Jason Contant

Definity Financial Corporation is interested in both P&C brokerage and carrier acquisitions, the insurer’s president and CEO Rowan Saunders confirmed during a recent virtual fireside chat with RBC Capital Markets. “Even though we’ve just recently done a significant acquisition in

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News ClaimsClaims CanadaEarnings / RatingsInsuranceMarkets / Coverages

How claims inflation is affecting Definity’s auto, property lines

November 22, 2022 by Jason Contant

Claims inflation in Definity Financial Corporation’s auto and property lines appears to be stable, Definity president and CEO Rowan Saunders said during a recent virtual fireside chat with RBC Capital Markets. While inflation is at elevated levels, it’s starting to

Fears of a recession in Canada economy
News Commercial LinesInsuranceMarkets / Coverages

Definity CEO on how recession fears are affecting insurance

November 16, 2022 by Jason Contant

Fear of a looming recession doesn’t appear to be affecting consumers’ purchasing behaviours yet, Definity Financial Corporation president and CEO Rowan Saunders said during a virtual fireside chat with RBC Capital Markets. “Insurance is quite close to being a recession-proof

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News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

Definity acquires majority stake in an Ontario brokerage

October 7, 2022 by Jason Contant

Definity Financial Corporation has increased its ownership interest in Ontario-based brokerage McDougall Insurance from approximately 25% to 75%, “building a broker partnership with proven M&A expertise.” The partnership is for a cash consideration of $217 million (subject to post-closing adjustments),

Looking to the future
News Insurance

Industry’s 2022 results won’t be as good as 2021, Definity CEO predicts 

May 13, 2022 by Jason Contant

Definity Financial Corporation president and CEO Rowan Saunders doesn’t expect the Canadian P&C insurance industry’s return on equity to remain as elevated as it was last year.  In 2021, the industry’s ROE hit 17%. The industry also recorded the lowest-ever

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News Insurance

Definity grows commercial portfolio, eyes M&A

February 14, 2022 Philip Porado

Focus on improving its commercial business has paid off, Definity Financial Corporation’s president and CEO Rowan Saunders told a Feb. 14 fireside chat with BMO Capital Markets equity analyst Tom MacKinnon. “It’s really a very different-looking portfolio now than it