Definity Financial Corp. (DFY)

Overview

Definity Financial Corporation, operating in Canada and equipped with a suite of subsidiaries, specializes in delivering comprehensive property and casualty insurance products. Originating in 1871 and originally recognized as Economical Holdings Corporation, the company underwent a rebranding to Definity Financial Corporation in August 2021. Stationed in Waterloo, Canada, Definity has built a legacy of providing diverse insurance solutions, with its distribution network strongly anchored in both intermediary brokers and direct sales to customers. Catering to individuals and businesses alike, the company extends its offerings across various brands, including Economical, Sonnet, Family, Petsecure, and Peppermint for personal insurance, and Definity Insurance alongside Economical for commercial insurance products.

Products and Services

Definity Financial Corporation’s product lineup is designed to cater to a wide range of insurance needs, ensuring a comprehensive coverage for both personal and commercial clients:

• Personal Insurance Products: As part of its commitment to individual clients, Definity offers a variety of personal insurance products. These encompass:
  • Auto Insurance for vehicle protection against accidents, theft, and other damages.
  • Property Insurance to safeguard homes and possessions from risks like fire, theft, and natural disasters.
  • General and Umbrella Liability Insurance, offering extended coverage beyond standard policies for bodily injury or property damage.
  • Pet Insurance products through Petsecure and Peppermint brands, which provide healthcare coverage for pets.
• Commercial Insurance Products: Addressing the needs of the business sector, Definity provides tailored commercial insurance solutions. These include:
  • Fleet and Commercial Auto Insurance for business vehicles, covering damages and liability issues arising from business operations.
  • Commercial Property Insurance to protect business premises and contents from common risks such as fires, thefts, and natural calamities.
  • Liability Insurance to cover legal liabilities that businesses may face in their operations.
  • Specialty Insurance Products designed for specific industries and unique risks, ensuring a custom fit for businesses’ distinct needs.

Definity Financial Corporation mainly distributes its insurance products through brokers, emphasizing an intermediated sales approach, although it also directly engages with customers. The company focuses on reaching out to small to mid-market companies, as well as targeted segments, offering specialized and comprehensive insurance solutions under its diverse brand portfolio.