August 7, 2017

Travelers completes $490M UK deal

HBJ File Photo
HBJ File Photo
The Travelers Cos.

The Travelers Cos. has completed its $490 million acquisition of small business insurance carrier Simply Business in the United Kingdom.

The company has more than 430,000 microbusiness customers, Travelers, with a significant presence in Hartford, said. The property and casualty insurer announced the acquisition in March and completed it late Friday.

Simply Business focuses on technology that "aligns with our efforts to simplify the small commercial insurance transaction and make it more efficient," said Alan Schnitzer, Travelers CEO.

Simply Business will operate as a stand-alone business, continuing to partner with its panel of carriers under its existing brand name.

Travelers funded the acquisition through a combination of debt financing and internal resources.

Comments

Type your comment here:

Free E-Newsletters

Sign up now for our daily and weekly
e-newsletters! Click Here

 
Today's Poll Are condos still an attractive living option?<>
ADVERTISEMENTS
Most Popular on Facebook
Copyright 2017 New England Business Media