Travelers Cos. said Friday it has completed its previously announced sale of its Canadian personal insurance business and most of its Canadian commercial insurance operations to Definity Financial Corp. for about $2.4 billion.
Travelers, which is headquartered in New York and has major operations in Hartford, said it retained its Canadian surety business, where it’s a leading writer in North America.
The insurer said it expects to use about $700 million of the net proceeds for share repurchases in 2026, with the remaining cash used to support operations and other corporate purposes.
The deal is expected to be slightly accretive to earnings per share beginning in 2026, the company said.
