SWISS RE ACQUIRES COMMON SHARES OF DEFINITY FINANCIAL CORPORATION

ZURICH, Switzerland, March 11, 2024 /CNW/ - Swiss Re Ltd. and its subsidiary, Swiss Re Investments Holding Company Ltd. (together, "Swiss Re") announce that on March 11, 2024, Swiss Re acquired ownership of an aggregate of 197,217 common shares ("Common Shares") of Definity Financial Corporation (the "Issuer") through the facilities of the Toronto Stock Exchange at an average price of C$46.2491 per Common Share, for an aggregate purchase price of C$9,121,108.7547.

Immediately before the acquisition of Common Shares, Swiss Re owned 11,450,000 Common Shares, representing approximately 9.88% of the issued and outstanding Common Shares. Immediately after the acquisition, Swiss Re owned 11,647,217 Common Shares, representing approximately 10.05% of the issued and outstanding Common Shares.

Swiss Re acquired the Common Shares for investment purposes and may, subject to the terms of the governance agreement among Swiss Re and the Issuer dated November 23, 2021, and depending on market and other conditions, or as further circumstances may dictate, from time to time, increase or decrease its beneficial ownership, control or direction over Common Shares through market transactions, private agreements, treasury issuances, options, other convertible securities or otherwise.

Swiss Re's head office is located at Mythenquai 50/60 8002 Zurich, Switzerland. For further information and/or a copy of the related early warning report to be filed, please contact James Raphael at [phone]. The Issuer's head office is located at 111 Westmount Road South, Waterloo, Ontario N2L 2L6. The Common Shares of the Issuer are listed on the Toronto Stock Exchange under the symbol "DFY".

SOURCE Swiss Re Ltd.

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