Travelers completes sale of Canadian personal & majority of commercial arm to Definity

Core Viewpoint - Travelers Companies, Inc. has completed the sale of its personal insurance business and the majority of its commercial insurance business in Canada to Definity Financial Corporation for approximately $2.4 billion [1][2]. Group 1: Transaction Details - The sale was initially announced in May 2025 [2]. - Travelers has retained its premier Canadian surety business [3]. - The transaction proceeds will be utilized for share repurchases and to support ongoing operations [3]. Group 2: Financial Impact - Approximately $0.7 billion of the net cash proceeds will be allocated for additional share repurchases in 2026 [3]. - The transaction and resulting share repurchases are expected to be slightly accretive to the company's earnings per share in 2026 and in subsequent years [3]. Group 3: Advisory Roles - Jefferies LLC and Przygoda & Co. LLC served as financial advisors for the transaction [4]. - Skadden, Arps, Slate, Meagher & Flom LLP and Stikeman Elliott LLP acted as legal advisors to Travelers [4].