Definity is sixth largest P&C company in Canada, with over 3,200 employees and direct premiums written of $4.4 billion in 2024. It distributes its products through 600 independent brokers, making it the fourth largest company in this channel. CEO Rowan Saunders launched Sonnet, the first digital P&C brand, in 2019. It now accounts for 14% of DFY’s premiums. Definity also owns Petline, the largest provider of pet insurance in Canada, a fast-growing field.
Wealth Builder
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Income Investor
All P&C companies will experience periods of higher losses arising from claims related to weather or criminal activity. But as long as long-term underwriting is profitable, they are very stable businesses. Definity, with its Sonnet digital brand and the Petline insurance niche, has drivers for further growth. Buy now. - Gavin Graham
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DFY was first recommended here on November 8, 2022