Nov 8 (Reuters) - Canadian insurer Definity Financial Corp said on Monday it was aiming to raise as much as C$1.25 billion ($1 billion) from its initial public offering. Definity, previously known as Economical Mutual Insurance Company, is looking to price its IPO between C$19 and C$22 per share, the company said. It expects to list on the Toronto Stock Exchange under the ticker symbol “DFY” in the coming weeks. Definity, a newly-formed company under the Insurance Companies Act (Canada), will be the parent company of Economical Mutual Insurance, which is a property and casualty insurer. As part of a process referred to as ‘demutualization,’ Economical Insurance will change its structure and convert from a mutual insurance firm to an entity allowed to trade publicly. Definity said the Canadian finance ministry has approved the conversion plan. Definity will also serve as the parent company of other brands and subsidiary businesses, including Family Insurance Solutions, Petline Insurance Company, and Sonnet Insurance Company, following the conversion. BMO Capital Markets, RBC Capital Markets and Barclays are the lead underwriters for the offering. $1 = 1.2451 Canadian dollars Reporting by Manya Saini in Bengaluru; editing by Arpan Varghese