Definity Investment and Insurance Strategy Overview
ROBUST GROWTH IN PERSONAL PROPERTY WITH IMPROVED
UNDERWRITING
TODAY
17% CAGR in annual personal property GWP(2,3) in 2019-2022
since the launch of Sonnet and Vyne (1)
2-point improvement in combined ratio(3) from 2019-2022(4)
Maintained solid underwriting income (3) from 2019-2022(4)
OUTLOOK
We expect a continuation of the firm pricing conditions prevalent
in the industry in recent years, the organic growth potential of our
digital platforms, and stronger broker relationships to help
outgrow the industry over time
$276
PERSONAL PROPERTY GWP GROWTH (2,3)
11.8% YOY
$1,013
$895
$308
$751
$632
Q3-2022
Q3-2023
2019
2020
2021
2022
PERSONAL PROPERTY COMBINED RATIO(3)
We continue to target a mid-90s combined ratio (3) for the personal
property line of business on an annual basis
100.1%
(5)
123.3%
98.6%
96.7%
94.4%
89.2%
Note: Figures in millions, unless otherwise noted.
Q3-2022
(Restated)
Q3-2023
2019
2020
IFRS 4
IFRS 4
2021
IFRS 4
2022
IFRS 4
1. 3Y CAGR from 2019-2022
2. Restated under current GWP definition.
3. This is a supplementary financial measure, non-GAAP financial measure, or a non-GAAP ratio. Refer to Supplementary Financial Measures and Non-GAAP Financial Measures and Ratios advisory and Section 12-
Supplementary financial measures and non-GAAP financial measures and ratios in the Q4-2022 MD&A and Q3-2023 MD&A for further details.
4. The years 2019-2022 are under IFRS 4.
definity.
5. Q3-2023 combined ratio includes 39.7 points of catastrophe losses.
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