Swiss Re announced on March 11 that it has acquired 197,217 common shares of Definity Financial Corporation, the parent company of Economical Insurance, Sonnet, Family Insurance Solutions, and Petline. 

The Zurich based reinsurer purchased the shares on the Toronto Stock Exchange at an average price of C$46.2491 per common Share, for a total of C$9,121,109. 

Before this share purchase, Swiss Re held a large stake in Definity, owning 11,450,000 common shares, or about 9.88 per cent of the issued and outstanding common shares. “Immediately after the acquisition, Swiss Re owned 11,647,217 common shares, representing approximately 10.05 per cent of the issued and outstanding common shares,” stated the reinsurer, which added that it acquired the shares for investment purposes.