The Travelers Companies, Inc. announced that it has increased its ownership stake in J. Malucelli Participações em Seguros e Resseguros S.A., its joint venture in Brazil, by exercising a pre-existing option to purchase newly issued shares. As a result, Travelers has increased its stake in J. Malucelli from 43.4 percent to 49.5 percent.
“We are very pleased with the performance of our joint venture in Brazil,” noted Alan Schnitzer, Vice Chairman and head of Travelers’ Financial, Professional & International Insurance business segment. “The venture continues to be the market leader in the surety insurance business in Brazil, with a market share of approximately 30 percent. In addition, we are making good progress on our early efforts to expand beyond the surety business into the growing property and casualty market,” he concluded.
Source: The Travelers Companies
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
What Analysts Are Saying About the 2026 P/C Insurance Market 
State Farm Adjuster’s Opinion Does Not Override Policy Exclusion in MS Sewage Backup 
Insurance Issue Leaves Some Players Off World Baseball Classic Rosters 
World’s Growing Civil Unrest Has an Insurance Sting 
