Travelers Completes Acquisition of Corvus Insurance
02 Janeiro 2024 - 6:15PM
Business Wire
The Travelers Companies, Inc. (NYSE: TRV) today completed its
previously announced acquisition of Corvus Insurance Holdings,
Inc., an industry-leading cyber insurance managing general
underwriter that is powered by proprietary technology.
“We have forged a strong strategic partnership with the talented
team at Corvus over the past year, and we are pleased to officially
welcome them to the Travelers family,” said Alan Schnitzer,
Chairman and Chief Executive Officer of Travelers. “With a proven
platform and deep cyber underwriting and risk management expertise,
Corvus brings to Travelers important cyber capabilities.”
Corvus has developed an industry-leading suite of integrated
cyber sales, underwriting, service and support capabilities.
Through its platform, Corvus effectively identifies vulnerabilities
throughout the policy period to reduce customers’ exposure to cyber
events. Corvus’ platform also delivers distribution efficiencies to
insurance agents and brokers.
Travelers funded the acquisition through internal resources.
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 $37
billion in 2022. For more information, visit Travelers.com.
Forward-Looking Statements
All statements in this press release, other than statements of
historical fact, are “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements in this press release include, without
limitation, express or implied statements concerning the proposed
transaction and its expected impact on Travelers. 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 “Forward-Looking Statements”
in Travelers’ most recent Form 10-K and Form 10-Q filed with the
Securities and Exchange Commission. Additional factors that could
cause actual results to differ include, but are not limited to,
risks relating to pursuing new markets and opportunities and the
risk that Travelers may not realize the anticipated benefits from
the transaction. The forward-looking statements in this press
release speak only as of the date of this press release, and
Travelers undertakes no obligation to update any forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240102258773/en/
Media: Patrick Linehan, 917-778-6267
Investors: Abbe Goldstein, 917-778-6825
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