St. Paul and Travelers reinsurance swap

Summary#

St. Paul Fire and Marine Insurance Company, carrying on business in Canada as a branch, and Travelers Insurance Company of Canada each say they will apply to the Superintendent of Financial Institutions (Canada) under the Insurance Companies Act to swap certain insurance risks between them. The applications will be made on or after October 7, 2025; proposed agreements can be inspected for 30 days after the notice was published on September 6, 2025.

What it does#

• St. Paul Fire and Marine Insurance Company (branch) plans to apply for approval to be reinsured, on an assumption basis, by Travelers Insurance Company of Canada for its commercial insurance business — excluding surety insurance, home warranty insurance, and any assumed reinsurance.
• Travelers Insurance Company of Canada plans to apply for approval to be reinsured, on an assumption basis, by the Canadian branch of St. Paul Fire and Marine Insurance Company for its surety insurance business and its home warranty insurance business.
• A copy of each proposed assumption reinsurance agreement is available for inspection at 165 University Avenue, Toronto, Ontario M5H 3B9 during regular business hours for 30 days after publication, or on written request (email: RegGovNo@travelers.com).

Who's affected#

• Policyholders and bondholders of St. Paul Fire and Marine Insurance Company and Travelers Insurance Company of Canada, especially:
  • Customers with commercial insurance through the St. Paul branch.
  • Customers with surety insurance or home warranty insurance through Travelers.
• Other parties (agents, brokers, or third‑party claimants) may notice changes if the insurer responsible for a policy is reassigned. The notice does not list other affected groups.

Why it matters#

• If the Superintendent approves these applications, certain policies could be transferred so that a different company becomes responsible for paying claims. That can change who you contact about a claim or policy questions.
• Policyholders have a short window (30 days after publication) to inspect the proposed agreements or request a copy if they want to review the details before any regulatory decision.
• These are applications for approval, not final decisions; the regulator must still approve the reinsurance arrangements.