NEW YORK--(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.
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.
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.
Corvus Insurance, a wholly owned subsidiary of The Travelers Companies, Inc., is building a safer world through insurance products that help to reduce cyber risk for policyholders. Corvus Insurance's Smart Cyber Insurance® and Smart Tech E+O® products include broad coverage, in-house claims handling, and risk prevention services that help prevent cyberattacks through threat alerts for policyholders and the partnership of our in-house cybersecurity experts.
Corvus Insurance offers insurance products in the U.S., Middle East, Europe, Canada, and Australia. Corvus Insurance, Corvus London Markets, and Corvus Germany are the marketing names used to refer to Corvus Insurance Agency, LLC; Corvus Agency Limited; and Corvus Underwriting GmbH. All entities are subsidiaries of Corvus Insurance Holdings, Inc. For more information, visit corvusinsurance.com.
Contact:
Kerry Pillion
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