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Definity Financial Corporation (T:DFY)

Business Focus: Property & Casualty Insurance (NEC)

Sector:  Financials Industry:  Property & Casualty Insurance
 
Company Contact
Address: 111 Westmount Road South,
P.O. Box 2000
WATERLOO ON N2J 4S4
Tel: N/A
Website: https://www.definityfinancial.com
IR: See website
Key People
Rowan Saunders
President, Chief Executive Officer, Director
Obaid Rahman
Senior Vice President, Chief Underwriting Officer - Commercial Insurance
Philip Mather
Chief Financial Officer, Executive Vice President
Brigid V. Pelino
Chief People and Culture Officer, Senior Vice President
Paul Macdonald
Executive Vice President - Personal Insurance and Digital Channels
Fabian Richenberger
Executive Vice President - Commercial Insurance and Insurance Operations
Tatjana Lalkovic
Senior Vice President, Chief Technology Officer
Innes Dey
Senior Vice President, Legal and Strategy
Roger Dunbar
Senior Vice President - Sonnet
Donna Ince
Senior Vice President, Chief Underwriting Officer - Personal Insurance
   
Business Overview
Definity Financial Corporation, through its subsidiaries, offers property and casualty (P&C) insurance in Canada. The Company provides service and insurance coverage, through a licensed broker or our digital direct channel. It offers both personal and commercial insurance products. Its commercial lines insurance operations include fleet, individually rated commercial auto, property, liability, and specialty insurance products, which are provided to businesses of all sizes in Canada. The Company's brands include Economical Mutual Insurance Company, Sonnet Insurance Company, Family Insurance Solutions Inc., and Petline Insurance Company. The Economical Mutual Insurance Company is a property and casualty insurer that is distributed by licensed broker partners. The Sonnet Insurance Company helps to purchase insurance directly online. The Family Insurance Solutions Inc is a distributor of home and optional auto insurance in British Columbia.
Financial Overview
For the fiscal year ended 31 December 2023, Definity Financial Corp revenues increased 23% to C$3.99B. Net income increased from C$110.9M to C$350.1M. Revenues reflect P&C Insurance segment increase from C$220M to C$616.6M. Net income benefited from GAAP Expense Ratio - %-Personal Auto decrease of 16% to 24.7%, GAAP Loss Ratio - %-Personal Auto increase of 10% to 71.8%, Distribution revenues increase from C$19.9M to C$127.4M (income).
Employees: 3,555 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: $4,952M as of Dec 31, 2023
Annual revenue (TTM): $3,994M as of Dec 31, 2023
EBITDA (TTM): $722.40M as of Dec 31, 2023
Net annual income (TTM): $350.10M as of Dec 31, 2023
Free cash flow (TTM): $201.10M as of Dec 31, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 114,900,000 as of Dec 31, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization