TSX:DFYInsurance
Definity Financial (TSX:DFY) Stock Premium Surge Meets Thinner Margins
Definity Financial went into this earnings print with a hot stock and an even hotter reputation for profitable growth. The shares closed at CA$80.03 on 31 July after a solid run in recent months, so expectations were high. The headline from Q2 is clear. The Travelers acquisition is pulling its weight, with gross written premiums jumping to CA$1.8b and the consolidated combined ratio sitting at 93.9%. For a property and casualty insurer, that combination of scale and underwriting discipline is...