November 1, 2013 by Canadian Underwriter
The Travelers Companies, Inc. (NYSE: TRV) announced late Friday afternoon that its acquisition of The Dominion of Canada General Insurance Company from E-L Financial Corporation Limited (TSX: ELF) had been completed.
The combined organization, which will be referred to as Travelers Canada, will remain headquartered in Toronto, notes a statement from Travelers Companies.
“The combination of Travelers Canada and The Dominion is an exciting development,” Alan Schnitzer, vice chairman and head of Travelers’ Financial, Professional & International Insurance business segment, says in the statement.
“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,” Schnitzer says.
The Travelers Companies, Inc. is a 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.