Travelers Completes Acquisition of The Dominion
NEW YORK--(BUSINESS WIRE)--The Travelers Companies, Inc. (NYSE: TRV) today announced the completion of its acquisition of The Dominion of Canada General Insurance Company from E-L Financial Corporation Limited (TSX: ELF). The combined organization, which will be referred to as Travelers Canada, will remain headquartered in Toronto.
“It creates an exceptional platform for strengthening our presence in Canada and expanding our relationships with customers and brokers. We look forward to leveraging the strengths and expertise of both organizations to deliver an expanded range of products and an even higher level of service.”
“The combination of Travelers Canada and The Dominion is an exciting development,” said Alan Schnitzer, Vice Chairman and head of Travelers’ Financial, Professional & International Insurance business segment. “It creates an exceptional platform for strengthening our presence in Canada and expanding our relationships with customers and brokers. We look forward to leveraging the strengths and expertise of both organizations to deliver an expanded range of products and an even higher level of service.”
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 approximately 30,000 employees and generated revenues of approximately $26 billion in 2012. For more information, visit www.travelers.com.
The statements in this press release regarding the anticipated benefits from the transaction are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Some of the factors that could cause actual results to differ include, but are not limited to: risks relating to pursuing new markets and opportunities, particularly in international markets; the risk that the acquisition and the integration of the acquired business may result in operating difficulties and other unintended consequences; and the risk that Travelers may not realize the anticipated benefits of its investment. For further detail and additional factors, see “Risk Factors” and “Forward-Looking Statements” in the company’s most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission. The forward-looking statements speak only as the date of this release, and we undertake no obligation to update any forward-looking statements.