Travelers Companies Agrees To Acquire Corvus Insurance In $435 Mln Deal

(RTTNews) - Travelers Companies, Inc. (TRV) Friday announced an agreement to acquire Corvus Insurance Holdings, Inc. for approximately $435 million. The transaction is targeted to close in the first quarter of 2024

Travelers, a provider of property casualty insurance for auto, home, and business noted that Corvus has expertise in identifying vulnerabilities throughout the policy period to reduce customers' exposure to cyber events. Powered by a proprietary, AI-driven cyber risk platform, Corvus has a suite of integrated cyber sales, service and support capabilities.

Madhu Tadikonda, CEO of Corvus said, "At Corvus, we have been building a safer world through cyber insurance products and digital tools that reduce risk and improve resilience for policyholders."

Travelers said the expected impact to earnings in the near term is immaterial.