St. Paul and Travelers reinsurance swap

Summary#

This notice says that St. Paul Fire and Marine Insurance Company (the St. Paul branch in Canada) and Travelers Insurance Company of Canada plan to swap parts of their insurance books by means of two matching assumption reinsurance agreements. Each company will apply to the Superintendent of Financial Institutions (Canada) for approval on or after October 7, 2025. Copies of the proposed agreements are available for inspection for 30 days after the notice published on September 6, 2025.

What it does#

• St. Paul Fire and Marine Insurance Company intends to apply to be reinsured, on an assumption basis, by Travelers Insurance Company of Canada for its commercial insurance business, except for surety insurance, home warranty insurance, and already-assumed reinsurance.
• Travelers Insurance Company of Canada intends to apply 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 home warranty insurance business.
• Both companies say a copy of the proposed assumption reinsurance agreement will be available for inspection at 165 University Avenue, Toronto, Ontario M5H 3B9 during regular business hours for 30 days after publication, and will be mailed by request to RegGovNo@travelers.com.
• These are planned applications under the Insurance Companies Act (Canada); the changes are not final until the Superintendent of Financial Institutions (Canada) approves them.

Who's affected#

• Policyholders of the Canadian branch of St. Paul Fire and Marine Insurance Company (commercial insurance customers).
• Bondholders and policyholders of Travelers Insurance Company of Canada (those with surety policies or home warranty insurance).
• Insurance brokers, agents, and businesses that place or manage commercial, surety, or home warranty insurance with these insurers.
• It is unclear whether there will be any immediate change for every individual policy — approvals may include conditions, and the final effect depends on the Superintendent’s decision.

Why it matters#

• If approved, some policies would move from one insurer to the other. That can change which company handles claims, renewals, and customer service.
• Policyholders have a chance to read the proposed agreements and ask questions during the 30-day inspection period starting on September 6, 2025.
• The move could affect the financial backing behind certain policies, which matters to people and businesses that rely on surety or commercial insurance coverage.
• These notices are part of a regulatory step; nothing changes for policyholders until the regulator approves the agreements.