Definity Financial Reports Major Catastrophe Losses in Q3

Definity Financial Corp. (TSE:DFY) has released an update.

Definity Financial Corporation reported a significant impact on its third-quarter earnings in 2024, with estimated catastrophe losses net of reinsurance recoveries of $170 million, or $1.09 per share. The losses were primarily due to extreme weather events across Canada, including hailstorms, floods, and wildfires, leading to the full utilization of the company’s catastrophe reinsurance for the year. Definity emphasizes its commitment to supporting affected customers despite the financial setback.

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