Travelers to sell its canadian personal insurance business and majority of its canadian commercial insurance business to definity for us$2.4 billion

New york--(business wire)--the travelers companies, inc. (nyse: trv) today announced that it has signed a definitive agreement to sell the personal insurance business and the majority of the commercial insurance business of travelers canada to definity financial corporation (tsx: dfy) for approximately us$2.4 billion. the purchase price represents a multiple of 1.8 times book value, adjusting for approximately us$0.8 billion of excess local capital which is being repatriated as part of this tra.
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