ST. PAUL (dpa-AFX) - The Travelers Companies, Inc. (TRV) completed its sale of the personal insurance business and the majority of the commercial insurance business of Travelers Canada to Definity Financial (DFY.TO) for approximately $2.4 billion. Travelers expects to use approximately $0.7 billion of the net cash proceeds for additional share repurchases in 2026, while retaining the remainder to support ongoing operations and for general corporate purposes.
The company expects the transaction and resulting share repurchases to be slightly accretive to earnings per share in 2026 and each of the next several years.
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