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Definity Releases Estimate of Financial Impact From Flooding in British Columbia
Definity Releases Estimate of Financial Impact From Flooding in British Columbia ...
About this update from Definity Financial Corp.
[{"type":"text","content":"\n \n \n \n Definity Releases Estimate of Financial Impact From Flooding in British Columbia\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n WATERLOO, ON\n \n ,\n \n Dec. 9, 2021\n \n /CNW/ -\n \n Definity Financial Corporation\n \n (\"Definity\") (TSX: DFY) releases estimate of the financial impact on Definity arising from flooding in\n \n British Columbia\n \n .\n \n \n \n \n \n \n \n \n \n \"We stand with affected residents and business owners in\n \n British Columbia\n \n during this difficult time, and our priority is to ensure that customer needs are met,\" said\n \n Rowan Saunders\n \n , Definity's President and Chief Executive Officer. \"Through Economical Insurance, Sonnet, and Family Insurance, we are working diligently to support individuals, families, and business owners whose property has sustained physical damage because of flooding. Our team is responding quickly to work on assessing and resolving claims.\"\n \n \n While the situation continues to develop, Definity estimates that the November flooding in\n \n British Columbia\n \n will result in a negative impact on net income of between\n \n $21 million\n \n and\n \n $25 million\n \n , or between\n \n $0.18\n \n and\n \n $0.22\n \n per share currently outstanding, net of taxes and reinsurance.\n \n \n This assessment is based on information received to date from customers, as well as analysis of exposures, and it assumes the recent severe weather in\n \n British Columbia\n \n will not continue.\n \n \n \n About Definity Financial Corporation\n \n \n Definity Financial Corporation (TSX: DFY) is a multi-channel insurance company, offering personal and commercial insurance through Economical Insurance, Sonnet Insurance Company, Petline Insurance Company, and Family Insurance Solutions Inc. Through this family of brands, Definity had $3.1 billion in gross written premiums for the 12 months ended\n \n September 30, 2021\n \n .\n \n \n \n Forward-Looking Statements\n \n \n This news release may contain forward-looking information within the meaning of applicable...