Categories
Picks

Definity Financial Corporation (TSX: DFY)

Definity is the new name for the Economical Mutual Fire Insurance Company of Canada, which issued its first policy in November 1871. It is the sixth largest P&C insurance company in Canada, with 3,100 employees in 12 regional offices. Distribution is through a network of over 600 independent brokerage firms, in which channel it is the fourth largest insurance carrier. It demutualized in November 2021 and has a market capitalization of $4.5 billion.


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

Sorry!

Only current subscribers of The Income Investor may view the details of this recommendation.


Interactive Performance Chart

DFY was first recommended here on November 8, 2022