Travelers to Buy Majority Stake in Colombian Insurance Startup
Travelers Cos., the lone property- casualty insurer in the Dow Jones Industrial Average, agreed with a partner to buy a majority stake in a startup surety provider based in Colombia.
The joint venture with Brazil’s J. Malucelli Participacoes em Seguros e Resseguros SA will acquire the stake in Cardinal Compania de Seguros, New York-based Travelers said today in a statement distributed by Business Wire. Terms of the deal weren’t disclosed.
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