Canadian Underwriter

Upside down vehicle after car accident on forest road
News Insurance

Two auto physical damage trends of concern to one insurer 

May 18, 2022 by Jason Contant

Definity Financial Corporation’s executive vice president of personal insurance is concerned about two trends in auto physical damage.  “The two areas that are of concern to us are theft and total loss, where we are seeing approximately a 25% increase

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

Concept of increased business growth
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

Economical demutualization
News Insurance

New parent company for Economical following demutualization

August 30, 2021 by Jason Contant

Economical Mutual Insurance Company will have a new parent company once it demutualizes, the insurer announced Friday. Definity Financial Corporation, a newly creating entity incorporated under the Insurance Companies Act (Canada), will be the parent company of Economical Insurance, Family