Travelers acquires small-business insurer in UK
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Travelers Cos. Inc. on Monday said it has agreed to acquire Simply Business from Aquiline Capital Partners L.L.C. for $490 million.
The deal includes the repayment of debt and other obligations at closing, Travelers said in a statement.
London-based Simply Business is distributor of small-business insurance policies in the U.K., offering products online on behalf of the insurers.
Insurance premiums placed by Simply Business over the past three years grew at a compound annual rate of $113 million in 2016, according to Travelers.
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