Malucelli joint venture in Brazil. J. Malucelli commenced writing property casualty business in 2012. The property casualty business operates under the Travelers brand and focuses on property, general liability, construction and financial insurance products. The business is based in São Paulo.As a result of the transaction, Travelers now owns 95 percent of the property casualty business with Paraná Banco, the parent company of J. Malucelli, retaining a five percent interest. Travelers’ interest in the surety business of the J. Malucelli joint venture remains at 49.5 percent. In March 2017, Travelers agreed to acquire UK-based Simply Business from Aquiline Capital Partners for approximately $490 million. Simply Business is a leading U.K. distributor of small business insurance policies, offering products online on behalf of a broad panel of carriers. It has more than 425,000 microbusiness customers covering more than 1,000 classes of business, and was named “Best Company to Work For” by The Sunday Times in 2015 and 2016. The transaction adds to Travelers' digital capabilities. In 2018, Travelers ranked 106 on the Fortune 500 list of largest U.S. companies. On June 8, 2009, Travelers replaced its former parent Citigroup on the Dow Jones Industrial Average. On August 4, 2015, the company announced that Alan Schnitzer would succeed Jay Fishman as Chief Executive Officer effective December 1, 2015. On August 4, 2017, Travelers completed its previously announced acquisition of Simply Business, a leading provider of small business insurance policies in the United Kingdom. On August 15, 2018, Travelers acquired the majority stake of Zensurance, a digital business insurance brokerage in Canada. Business model and products Travelers provides commercial and personal property and casualty insurance products and services to businesses, government units, associations, and individuals. The company offers insurance through three segments: Personal Insurance, which includes home, auto and other insurance products for individuals Business Insurance, which includes a broad array of property and casualty insurance and insurance-related services in the United States Bond and Specialty Insurance, which includes surety, crime, and financial liability businesses which primarily use credit-based underwriting processes, as well as property and casualty products that are predominantly marketed on an international basis. Alleged anticompetitive practices In January 2007, Travelers agreed to pay US$77 million to six states to settle a class action suit and end investigations into its insurance practices. The charges involved paying the insurance broker Marsh & McLennan Companies contingent commissions to win business without the knowledge