Travelers Increases Its Ownership in Its J. Malucelli Joint Venture, the Market Leader in Brazilian Surety Business Wire NEW YORK -- December 05, 2012 The Travelers Companies, Inc. (NYSE: TRV) announced today 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," said 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. Forward-Looking Statements All statements in this press release other than statements of historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results of matters addressed in these forward-looking statements involve risks and uncertainties and may differ substantially from those expressed or implied. Some of the factors that could cause actual results to differ are discussed under the heading “Risk Factors” in the company’s most recent Form10-K and Form10-Q. Additional factors that could cause actual results to differ include, but are not limited to: risks relating to pursuing new markets and opportunities, including opportunities in emerging markets; and the risk that Travelers may not realize the anticipated benefits of its investment. The forward-looking statements in this release speak only as the date of this release, and we undertake no obligation to update any forward-looking statements. About Travelers The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $25 billion in 2011. For more information, visit www.travelers.com. Contact: The Travelers Companies, Inc. Media: Jennifer Wislocki, 860-277-7458 or Delker Vardilos, 860-954-7975 or Institutional Investors: Gabriella Nawi, 917-778-6844 or Andrew Hersom, 860-277-0902 or Individual Investors: Marc Parr, 860-277-0779
Japan Unexpectedly Targets Bigger Expansion of Monetary Base; Yen Drops; Nikkei 225 Surges
Travelers Increases Its Ownership in Its J. Malucelli Joint Venture, the Market Leader in Brazilian Surety
Press spacebar to pause and continue. Press esc to stop.