Travelers Completes Acquisition of Corvus Insurance
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.