OREANDA-NEWS. October 02, 2015.  The Travelers Companies, Inc. (NYSE: TRV) today announced the completion of its previously announced acquisition of a majority interest in the property casualty business of its J. Malucelli Participa??es em Seguros e Resseguros S.A. (J. Malucelli) joint venture in Brazil. J. Malucelli commenced writing property casualty business in 2012. The property casualty business will now operate under the Travelers brand and will focus on property, general liability, construction and financial insurance products. The business will continue to be based in S?o Paulo and led by Leonardo Semenovitch.

Todays announcement marks an important step in the development of our Brazil platform and reflects our confidence in the markets long-term growth potential, said Kevin Smith, President of International Insurance at Travelers. We will leverage Travelers considerable strength and expertise to deliver a broader range of products and provide specialized risk management and claim services to customers in Brazil.

As a result of the transaction, Travelers now owns 95 percent of the property casualty business, with Paran? Banco, the parent company of J. Malucelli, retaining a five percent interest. Travelers interest in the surety business of the J. Malucelli joint venture remains at 49.5 percent.

Smith added, We have developed a strong partnership with J. Malucelli and will continue to build on our surety business. The joint venture recently acquired a majority interest in Cardinal Compa??a de Seguros, a Colombian start-up surety provider.

Forward-Looking Statements

All statements in this press release, other than statements of historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 Risk Factors in the companys most recent Form 10-K and Form 10-Q. Additional factors that could cause actual results to differ include, but are not limited to, risks relating to pursuing new markets and opportunities, including opportunities in emerging markets. The forward-looking statements in this release speak only as of the date of this release, and we undertake no obligation to update any forward-looking statements.