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At the time, Travelers had the option to increase its investment to retain a 49.5 percent interest, which the company later did in 2012. [30] In June 2013, Travelers announced the acquisition of Dominion of Canada General Insurance Company from E-L Financial Corporation Limited (TSX: ELF). [31] The transaction later closed in November 2013.
Citigroup Inc. or Citi (stylized as citi) is an American multinational investment bank and financial services company based in New York City.The company was formed in 1998 by the merger of Citicorp, the bank holding company for Citibank, and Travelers; Travelers was spun off from the company in 2002.
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The Travelers Companies, AXIS Capital and Fidelity National Financial have been highlighted in this Industry Outlook article.
The following is a list of the world's largest publicly traded financial services companies, ordered by annual sales for the latest Fiscal Year in millions of U.S. dollars according to the Fortune Global 500. (Currently the top 50 public companies are included, while privately held companies are not included).
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In 2013, the Dominion was acquired by US insurer The Travelers Companies. Upon completion of the acquisition on November 1, it became part of Travelers' subsidiary Travelers Canada. The final Chief Executive Officer was Brigid Murphy, who then became President and CEO of the new Travelers Canada. [1]