Definity Financial Reports Q3 Results with 36.2% Increase in Gross Written Premiums
Definity Financial reported its third-quarter financial results, highlighted by a significant 36.2% increase in gross written premiums. The company posted an operating earnings per share (EPS) of C$0.36 and maintained a strong financial position with approximately C$1.2 billion in financial capacity. Despite the growth in premiums, the consolidated combined ratio reached 100.6%, impacted by catastrophe losses accounting for 12.8 percentage points. The company estimates that underwriting income will be affected by approximately C$130 million due to catastrophes occurring between July and August.
Topics: book value catastrophe losses combined ratio earnings report gross written premiums