Travelers completes acquisition of stake in Colombian surety start-up

In partnership with J Malucelli in Brazil, property and casualty insurance provider The Travelers Companies has completed the acquisition of a majority interest in a Colombian surety provider.

Start-up Cardinal Compañía de Seguros will continue to be based in Bogotá, will now operate under the co-branded name J.Malucelli Travelers.

Terms of the transaction have not yet been disclosed.