St. Paul Travelers' Divestiture Plan Gets Kudos

NU Online News Service, March 28, 3:14 p.m.EST?The St. Paul Travelers Companies' newly announced planto divest its entire 79 percent stake in its asset-management unitis getting a favorable review from a major ratings agency.[@@]

The country's second largest commercial insurer disclosed Fridayit is implementing a program to sell off its stake in NuveenInvestments Inc. which will be completed in three separate phases.The latest announcement follows the statement from companymanagement in January that it was exploring various strategicalternatives for divesting its Nuveen shares.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.