05:03 PM EDT, 05/27/2025 (MT Newswires) -- Travelers (TRV) said Tuesday that it agreed to sell the personal insurance business and a major part of the commercial insurance business of Travelers Canada to Definity Financial in about $2.4 billion transaction.

The company said it will retain its Canadian surety business.

Travelers expects to close the deal in Q1 2026, conditional on regulatory authorizations and customary requirements.

Travelers plans to use $0.7 billion of the net cash proceeds of the deal for additional share repurchases in 2026.