DEFINITY RELEASES ESTIMATE OF FINANCIAL IMPACT FROM CATASTROPHE LOSSES FOR THE FIRST QUARTER OF 2025

About this update from Definity Financial Corp.

[{"type":"text","content":"\n\n\n\n DEFINITY RELEASES ESTIMATE OF FINANCIAL IMPACT FROM CATASTROPHE LOSSES FOR THE FIRST QUARTER OF 2025\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen4{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnrbrb1{\nBORDER-RIGHT:black 1pt\n}\n.prnbsbls{\nBORDER-LEFT:black 0.5pt solid\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prnbrbrs{\nBORDER-RIGHT:black 0.5pt solid\n}\n.prnbbbs{\nBORDER-BOTTOM:black 0.5pt solid\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prncbts{\nBORDER-TOP:black 0.5pt solid\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnsbbb0{\nBORDER-BOTTOM:black 0pt\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n WATERLOO, ON\n \n\n ,\n \n\n April 9, 2025\n \n\n /CNW/ -\n \n Definity Financial Corporation\n \n (TSX:DFY) today announced that catastrophe losses in the first quarter of 2025 would negatively impact operating income by approximately\n \n $50 million\n \n net of reinsurance recoveries, or approximately\n \n $0.32\n \n per common share, net of taxes and reinsurance. This amount was approximately double our expectation based on first quarter historical averages.\n \n\n\n\n\n\n\n\n\n The table below provides a breakdown of the estimated catastrophe losses by line of business during the first quarter of 2025:\n \n\n\n\n\n\n\n\n (in millions of Canadian dollars - unaudited)\n \n\n\n\n\n\n\n\n Amount\n \n\n\n\n\n\n\n\n\n Personal auto\n \n\n\n\n\n\n $3\n \n\n\n\n\n\n\n\n Personal property\n \n\n\n\n\n\n $33\n \n\n\n\n\n\n\n\n Commercial insurance\n \n\n\n\n\n\n $14\n \n\n\n\n\n\n\n\n\n Total\n \n\n\n\n\n\n\n\n $50\n \n\n\n\n\n\n\n\n This past quarter saw heavy snowfall and rain while the ground was frozen, leading to elevated property damage from roof collapses and water...

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