Definity Financial Corporation has been awarded an “AAA” ESG rating from MSCI, placing it among the top-ranked global property and casualty insurers for environmental, social, and governance (ESG) risk management.
The company reported the recognition in its 2024 Sustainability Report and Public Accountability Statement, which outlined its approach to environmental, social, and governance (ESG) issues and progress on corporate responsibility initiatives.
In a year defined by record-breaking weather-related insurance claims across Canada, Definity leveraged enhanced climate modelling to limit catastrophe losses relative to its market share. The company also announced a 35% reduction in Scope 1 and 2 greenhouse gas emissions from 2019 levels, surpassing its 2025 interim target ahead of schedule.
Charitable contributions exceeded $4 million in 2024, the highest annual total in the company’s history. Funding was directed at initiatives supporting underrepresented groups and community efforts related to climate adaptation and awareness.
Additional developments included participating in Dalhousie University’s Mass Timber Project focused on sustainable housing, forming an Indigenous Advisory Council, and joining the United Nations Women’s Empowerment Principles. Definity also reported a seven-percentage-point increase in the share of women holding vice president and executive leadership roles since 2022.
“We are on a journey to be one of Canada's top five P&C insurers. To achieve this, we know it is crucial to build the long-term resilience of our business and the communities in which we live and work,” said Rowan Saunders, president and CEO of Definity.
“I am pleased to share our 2024 Sustainability Report, which demonstrates the progress Definity is making as we invest in building a better world.”
As of March 31, 2025, Definity reported over $4.5 billion in gross written premiums over the prior 12 months and $3.4 billion in equity attributable to common shareholders.
