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Travelers Increases Stake In Brazil Surety Insurer

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The Travelers Cos. exercised an option to increase its ownership stake in a Brazil company that it invested in two years ago from 43.4 percent to 49.5 percent.

Travelers said in November 2010 it planned to spend $370 million for a 43 percent stake in J. Malucelli Participações em Seguros e Resseguros S.A., the market leader in surety insurance in Brazil.

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