Travelers 2015 Annual Report Download - page 6

requirements through National Programs. Specialized Distribution also serves small to medium-
sized agricultural businesses, including farms, ranches, wineries and related operations, through
Agribusiness.
International
•International, through its operations in Canada, the United Kingdom and the Republic of
Ireland, offers property and casualty insurance and risk management services to several customer
groups, including, among others, those in the technology, public services, and financial and
professional services industry sectors. In addition, International markets personal lines and small
commercial insurance business in Canada through The Dominion of Canada General Insurance
Company (Dominion), which the Company acquired on November 1, 2013. International,
through its Lloyd’s syndicate (Syndicate 5000), for which the Company provides 100% of the
capital, underwrites five principal businesses—marine, global property, accident & special risks,
power & utilities and aviation.
International also includes results from J. Malucelli Participa¸c˜ oes em Seguros e Resseguros S.A.
(JMalucelli) and J. Malucelli Latam S.A. in Brazil. The Company owns 49.5% of both
JMalucelli, a market leader in surety coverages in Brazil, and J. Malucelli Latam S.A., which in
September 2015 acquired a majority interest in JMalucelli Travelers Seguros S.A., a Colombian
start-up surety provider. These joint venture investments are accounted for using the equity
method and are included in ‘‘other investments’’ on the consolidated balance sheet. Also, as a
result of a transaction that was completed in October 2015 with Paran´ a Banco S.A., the
Company’s joint venture partner in Brazil, the Company acquired 100% of the common stock of
Travelers Participa¸c˜ oes em Seguros Brasil S.A., which comprises JMalucelli’s former property
and casualty insurance business other than surety. The Company consolidates this investment in
its financial statements and includes Paran´ a Banco S.A.’s preferred stock interest in ‘‘other
liabilities.’’
Business and International Insurance also includes the Special Liability Group (which manages the
Company’s asbestos and environmental liabilities) and the assumed reinsurance and certain other
runoff operations, which are collectively referred to as Business and International Insurance Other.
Selected Market and Product Information
The following table sets forth the Business and International Insurance segment’s net written
premiums by market and product line for the periods indicated. For a description of the markets and
product lines referred to in the table, see ‘‘—Principal Markets and Methods of Distribution’’ and
‘‘—Product Lines,’’ respectively.
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