Travelers To Buy Simply Business From Aquiline Capital Partners - Quick Facts

(RTTNews) - The Travelers Companies, Inc. (TRV) announced it has agreed to acquire Simply Business from Aquiline Capital Partners LLC for an enterprise value of approximately $490 million, which includes the repayment of debt and other obligations. Simply Business is a distributor of small business insurance policies in the United Kingdom, offering products online on behalf of a broad panel of carriers.

Simply Business has more than 425,000 microbusiness customers, covering more than 1,000 classes of business. Over the past three years, insurance premiums placed by Simply Business grew at a compound annual rate of approximately 17.5 percent to 93 million pounds in 2016.

Travelers said the transaction is expected to close in the third quarter of 2017, and is expected to have an insignificant impact on the company's 2017 and 2018 earnings per share.