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 |