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The Travelers Companies

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49: 586:, Travelers never dissolved the various companies it acquired, but simply made them wholly owned subsidiaries and trained its employees to act on behalf of those subsidiaries. This is a common risk management strategy used by U.S. insurance groups. If any one company in the group gets hit with too many claims, the situation can be easily contained to that one company (which is placed in runoff and allowed to run its policies to completion), while the remainder of the group continues to operate normally. 571:, with its headquarters set in St. Paul, Minnesota. In August of that year, it was charged with making misleading statements in connection with the merger. Despite many assurances from CEO Jay Fishman that the newly formed company would retain the St. Paul name, the corporate name only lasted until 2007, when the company repurchased the rights to the famous red umbrella logo from Citigroup and readopted it as its main corporate symbol, while also changing the corporate name to 40: 625: 527: 307: 287: 267: 247: 224: 2487: 468:, for $ 3.9 billion in stock and assumed debt. By buying USF&G, they went from the 13th to the eighth largest property and casualty insurance company in the United States. Through economies of scale between the two companies, and a difficult business environment, they downsized the company substantially over the coming years by selling certain business units to focus on more profitable business units. 749:
advertising agency. During the late 1960s Charles Brunelle was the largest advertising agency in Hartford, a city known as "the insurance capital of the world," "the Hollywood of insurance," or "America's file cabinet" due to the many insurance companies in that town. The Travelers was one of their many insurance company clients.
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Travelers obtained its official state charter on June 17, 1863. The company did not issue its first regular insurance policy until April 5, 1864, but informally entered into its first insurance agreement a month earlier. On March 1, 1864, local banker James Bolter jokingly inquired of Batterson how
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agreement under which the company would invest in J. Malucelli Participações em Seguros e Resseguros S.A., the market leader in the surety insurance business in Brazil. The transaction closed in June 2011 with Travelers acquiring a 43.4 percent interest. Travelers' investment in newly issued shares
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insurance coverage up to the amount of ÂŁ1,000, and lesser indemnities for non-fatal injuries. Batterson visited the London and Paris offices of European insurers to learn about the accident insurance business, then went home to Hartford and raised $ 500,000 in capital to launch a company to provide
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The logo of the red umbrella was created in 1870 when it appeared in a newspaper ad for the insurance company. It was revived in the early 1960s, when it was given its signature red color by Harry W. Knettell, then the account executive for The Travelers and Vice President at the Charles Brunelle
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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
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By the early 1990s, Travelers was predominantly a general property and casualty insurer that also happened to do some travel insurance on the side, and in February 1994, Travelers quietly exited its original travel insurance business by selling the unit to a retiring Travelers executive. The
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in the property casualty business of its J. 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
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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.
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sidewalk, who trips and knocks over a table of items at a garage sale. The man and the items roll down the street, forming a ball which gathers garbage cans, pedestrians, construction materials, motorcycles, light poles, and other items, in a manner very reminiscent of the
503:. The red umbrella first appeared in Travelers advertising as early as 1870, but at that time was not yet the official logo. The company changed its official logo from a suit of armor to the Travelers Tower in 1920, and then replaced that with the red umbrella in 1959. 499:
much it would cost to insure him up to $ 5,000 for accidental death for the journey from the post office to his home. Batterson replied, "Two cents," which Bolter promptly tendered; those coins have been kept by Travelers ever since. The original company logo was a
575:. In 2009, Travelers designated its New York City office as its headquarters for legal purposes, but as a practical matter, the company considers its "executive offices" to be New York City, Hartford, and St. Paul, of which Hartford is by far the largest. 594:
significantly increased J. Malucelli's capital level, positioning it for substantial growth in Brazil. 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.
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During the 20th century, Travelers was responsible for many insurance industry firsts, including the first automobile policy (1897), the first air travel policy (1919), and the first space travel policy (late 1960s, for astronauts in the
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company. It is the second-largest writer of U.S. commercial property casualty insurance, and the sixth-largest writer of U.S. personal insurance through independent agents. Travelers is incorporated in Minnesota, with headquarters in
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The company's joint venture with J. Malucelli in Brazil completed the acquisition of a majority interest in Cardinal Compañía de Seguros, a Colombian start-up surety provider in September 2015. The business, which is based in
553:. However, the synergies between the banking and insurance arms of the company did not work as well as planned, so Citigroup spun off Travelers Property and Casualty into a subsidiary company in 2002, although it kept the red 707:
contingent commissions to win business without the knowledge of clients, thus creating a conflict of interest. Additionally, the investigation examined whether Travelers had created the illusion of competition by submitting
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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:
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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.
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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
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from E-L Financial Corporation Limited (TSX: ELF). The transaction later closed in November 2013. The combined organization, referred to as Travelers Canada, remains headquartered in
2618: 1984: 421: 2303: 1361: 582:, are technically still around today, and still write policies and accept claims in their own names (under the overarching Travelers brand name). As is typical of most 2845: 2855: 2840: 2251: 2830: 2825: 1283: 1256: 2611: 1337: 2850: 2810: 912: 732:. The league had sued over three dozen insurance companies the week before in an attempt to cover the claims that players made against the league. 441:
was founded March 5, 1853, in Saint Paul, Minnesota, to serve local customers in lieu of waiting for claim payments from insurance companies on the
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Knettell family history further documented by other Hartford insurance client colleagues including former V.P. of Connecticut General Insurance
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On August 4, 2015, the company announced that Alan Schnitzer would succeed Jay Fishman as chief executive officer effective December 1, 2015.
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The main predecessor companies of The Travelers Companies, Inc. are The St. Paul Companies, Inc. and Travelers Property Casualty Corporation.
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In April 2008, The Travelers repurchased the rights to the famous red umbrella, which is featured in several commercials starring
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Travelers Property Casualty Corp. Buys Renewal Rights To Commercial and Personal Lines Businesses of Royal & SunAlliance
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On August 15, 2018, Travelers acquired the majority stake of Zensurance, a digital business insurance brokerage in Canada.
1958: 2252:"From the Insurance City Open to the Travelers Championship, here are the many names of Connecticut's only PGA Tour stop" 1936: 752:
In 2006, a Travelers commercial titled Snowball was nominated for an Emmy. Snowball featured a man, walking down a steep
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as well as other advertisements. In July 2008, the spot "Delivery," also starring Freeman, was nominated for an Emmy
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processes, as well as property and casualty products that are predominantly marketed on an international basis.
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list of largest U.S. companies. On June 8, 2009, Travelers replaced its former parent Citigroup on the
1663: 511:). In 1954, the company established the world's first privately owned weather research facility, the 753: 689:, which includes surety, crime, and financial liability businesses which primarily use credit-based 1139:"The St. Paul Travelers Companies, Inc. - Company Profile on The St. Paul Travelers Companies, Inc" 721: 2078: 1774: 2689: 2596: 1888: 515:, the first organization to make weather predictions using probabilities ("20% chance of rain"). 83: 2406: 1707: 775: 464:, known formerly as United States Fidelity and Guaranty Company, an insurance company based in 1224: 712:, thus misleading clients into believing they were receiving competitive commercial premiums. 2684: 1470: 1445: 819: 779: 374: 54: 1857: 534:
In the 1990s, Travelers went through a series of mergers and acquisitions. It was bought by
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in December 1993, but the resulting company retained the Travelers name. In 1995 it became
228: 2220: 8: 2754: 2674: 963: 771:, that they had never heard of the game, and were surprised by the resulting similarity. 465: 450: 48: 2769: 2541: 1985:"Which Segment Is Driving Travelers' Growth: Business Insurance Or Personal Insurance?" 1338:
Aetna Completes Previously Announced Sale Of Property/Casualty Operations To Travellers
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In 2007, the company secured naming rights for an annual golf event to be called the
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list of the largest United States corporations with total revenue of $ 32 billion.
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by dramatically paring down its operations and later reorganizing itself into a
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On August 4, 2017, Travelers completed its previously announced acquisition of
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Citigroup Announces Completion of its Spin-off of Travelers Property Casualty
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for forcing the company and its subsidiaries to pay to defend the league for
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The company has field offices in every U.S. state, plus operations in the
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In 2004, the St. Paul and Travelers Companies merged and renamed itself
2759: 2749: 2704: 2659: 259: 98: 2588: 1664:"Travelers Eyes Canada Growth with $ 1.1B Acquisition of The Dominion" 526: 87: 2779: 2744: 2709: 740: 624: 550: 535: 431:: The logo that The St. Paul used prior to the merger with Travelers. 393: 365: 133: 115: 2171:"Travelers Sues NFL Over Ex-Players' Brain Injury Lawsuits - Law360" 2097:"Travelers Settles With States Over Brokers' Contingent Commissions" 1959:"US insurance giant Travelers acquires majority stake in Zensurance" 610: 560:. Three years later, Citigroup sold Travelers Life & Annuity to 1266: 1257:"An Evolution of Pre-Victorian Pin Stripes to One Big Red Umbrella" 783: 579: 554: 461: 420: 2626: 2784: 2774: 2127: 1730:"Travelers Buys Majority Stake in J. Malucelli to Grow in Brazil" 602: 561: 389: 2278:"COVER STORY - COVER STORY - The Travelers Rides Into The Storm" 1919:"Read the Travelers Statement on Alan Schnitzer and Jay Fishman" 549:
In April 1998, the Travelers Group merged with Citicorp to form
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resulting company is now known as Travel Insured International,
2664: 2061:"Travelers to Pay $ 6 Million, Ending Inquiry on Brokers' Fees" 1708:"Travelers Dives into Colombia Through Brazilian Joint Venture" 1376:, Travelers Property Casualty Press Release, September 4, 2003. 818:, former Travelers Vice Chairman, former Chairman & CEO of 405: 401: 1165:"Travelers drops the "St. Paul." Will it drop the other shoe?" 913:"Valley Insurance Agency Alliance Members Win National Awards" 870:"The Travelers Companies, Inc. 2023 Annual Report (Form 10-K)" 2719: 2679: 2654: 2011:"Travelers to pay $ 77 million to settle merger-related suit" 1937:"Travelers Completes Acquisition of UK-Based Simply Business" 1362:
MetLife Completes Acquisition Of Travelers Life & Annuity
1235:(4). New York: C.C. Hine's Sons Company: 160–162. April 1904. 613:, operates under the co-branded name J. Malucelli Travelers. 543: 397: 279: 2079:"UPDATE 1-Travelers to settle compensation case with states" 1832:"Travelers shores up online distribution with U.K. purchase" 578:
Many of Travelers' ancestor companies, such as St. Paul and
2567: 1612:"Travelers' Headquarters Model Suits Connecticut Just Fine" 1106:"St. Paul to Acquire USF&G In $ 2.8 Billion Stock Swap" 1023:"Records of the St. Paul Fire and Marine Insurance Company" 557: 1775:"Travelers buys Simply Business for ÂŁ400m in digital push" 2714: 767:. The creators of the ad said it was simply based on the 2381:"Robert I. Lipp J.D.: Executive Profile & Biography" 2149:"UPDATE 1-Travelers sues NFL over brain injury lawsuits" 2036:"Insurer Agrees To Halt Contingent Commissions - Law360" 2639: 338: 1806:"Travelers to Buy UK-Based Simply Business for $ 490M" 597:
In June 2013, Travelers announced the acquisition of
457:). It then spread its operations across the country. 697: 2229:"Travelers ad imitating Katamari: just coincidence" 1604: 1387:"Travelers Buys Some Royal & SunAlliance Lines" 715: 1773: 1471:"Securities Class Action Clearinghouse: Case Page" 964:"Travelers and Cisco Replace G.M. and Citi in Dow" 2846:Financial services companies of the United States 2008: 1686:"Travelers completes acquisition of The Dominion" 474:was founded in Hartford by James G. Batterson, a 2856:Publicly traded companies based in New York City 2841:Financial services companies established in 1853 2797: 2424: 1413:"$ 16 Billion Deal Joins St. Paul and Travelers" 806:Edward Budd, former Travelers Chairman & CEO 800: 744:St. Paul Travelers logo used until February 2007 2831:Companies listed on the New York Stock Exchange 2124:"Travelers sues NFL over brain injury lawsuits" 1638:"Travelers Taps Into Brazil With Joint Venture" 1497:"Citigroup Sells Red Umbrella Logo to St. Paul" 795:Primetime Emmy Award for Outstanding Commercial 2206:"Real-life Katamari in Travelers Insurance ad" 1529:Merced, Michael J. De La (February 13, 2007). 664: 2826:Companies in the Dow Jones Industrial Average 2612: 2009:Garrison-Sprenger, Nicole (January 6, 2008). 621:products. The business is based in SĂŁo Paulo. 2433:"Joe Plumeri: The Apostle of Life Insurance" 1754:. Hartford Business Journal. October 5, 2015 1752:"Travelers makes major commitment in Brazil" 1103: 726:failing to protect players from brain injury 599:Dominion of Canada General Insurance Company 2574:Business data for The Travelers Companies: 2398: 2304:"The Making of a Financial Services Empire" 1306: 1304: 589:In November 2010, Travelers entered into a 546:'s property and casualty business in 1996. 2851:Insurance companies based in New York City 2811:1853 establishments in Minnesota Territory 2619: 2605: 2407:"Look Who's Talking: Samuel J. Plumeri Jr" 2276:Fraser, Jill Andresky (December 2, 1990). 2249: 1884:"Travelers, Cisco Replace Citi, GM in Dow" 1352:, Citigroup press release, August 20, 2002 1187:"It's Time To Question Our Monuments, Too" 1080:"Travelers, Cisco Replace Citi, GM in Dow" 495:accident insurance to American travelers. 486:) while traveling in England in 1859 from 47: 38: 2404: 1411:Treaster, Joseph B. (November 18, 2003). 1250: 1248: 1246: 1244: 1242: 1219: 1217: 1215: 1213: 1211: 1209: 1207: 1038: 1020: 2511:"Travelers Chairman Reaps $ 227 Million" 2462:"Joseph J. Plumeri Profile - Forbes.com" 1939:(Press release). The Travelers Companies 1881: 1688:. Canadian Underwriter. November 1, 2013 1410: 1310: 1301: 1184: 1178: 1077: 936: 739: 623: 525: 439:Saint Paul Fire and Marine Insurance Co. 419: 57:(former headquarters and largest office) 2508: 2301: 1710:. Carrier Management. December 10, 2014 1584: 1313:"Travel Insured International turns 25" 1277: 1275: 878:U.S. Securities and Exchange Commission 490:to London. His railway ticket included 478:who became aware for the first time of 14: 2816:American companies established in 1853 2798: 2534: 2430: 2327: 2275: 1786:from the original on December 11, 2022 1587:"Travelers Reunites With Red Umbrella" 1528: 1364:, MetLife press release, July 1, 2005. 1319:. Secaucus, NJ: Northstar Travel Media 1254: 1239: 1204: 970:. The Associated Press. June 1, 2009. 939:"Travelers Home Insurance Review 2021" 616:In October 2015, Travelers acquired a 482:for travelers (i.e., an early form of 408:. Travelers ranked No. 98 in the 2021 2600: 2226: 2203: 1585:Mullman, Jeremy (February 13, 2007). 1494: 1225:"The Travelers' Fortieth Anniversary" 937:Lazarony, Lucy (September 22, 2021). 837:, former Travelers Chairman & CEO 831:, former Travelers Chairman & CEO 640:In 2018, Travelers ranked 106 on the 628:Travelers' St. Paul, Minnesota office 2464:. September 30, 2010. Archived from 1340:, Aetna press release, April 2, 1996 1281: 1272: 1255:Gilpin, Kenneth N. (April 7, 1998). 1185:Campbell, Susan (October 24, 2017). 997:"Fortune 500 List of Companies 2021" 889: 887: 2535:Singer, Natasha (August 25, 2016). 2509:Lubanko, Matthew (March 12, 1998). 2490:. Nl.newsbank.com. October 23, 1994 2356:"New Travelers CEO Has Family Ties" 2330:"No Gain Without Pain At Travelers" 2302:Mathews, Jay (September 24, 1993). 895:"Travelers' NYC address = HQ move?" 862: 720:In August 2012, Travelers sued the 24: 2431:Bianco, Anthony (March 30, 1998). 2250:Mavredakis, Mike (June 19, 2021). 2227:Stern, Zack (September 28, 2006). 2204:Stern, Zack (September 25, 2006). 2121: 1666:. Insurance Journal. June 10, 2013 1566:. Business Wire. February 13, 2007 1495:Riley, Clint (February 14, 2007). 1311:Biesaida, Jamie (March 11, 2019). 1162: 1040:10.17723/aarc.9.4.64513p6v12810w82 25: 2872: 2559: 2353: 1104:Leslie Scism (January 20, 1998). 884: 698:Alleged anticompetitive practices 513:Travelers Weather Research Center 377:. It has been a component of the 2405:Edelstein, Jeff (May 17, 2010). 2328:Levick, Diane (March 27, 1994). 1882:Browning, E. S. (June 2, 2009). 716:National Football League lawsuit 306: 305: 286: 285: 266: 265: 246: 245: 223: 222: 2528: 2502: 2480: 2454: 2373: 2347: 2321: 2295: 2269: 2243: 2188: 2163: 2141: 2115: 2089: 2071: 2053: 2028: 2002: 1977: 1951: 1929: 1911: 1875: 1850: 1824: 1798: 1766: 1744: 1722: 1700: 1678: 1656: 1630: 1578: 1556: 1522: 1488: 1463: 1438: 1404: 1379: 1367: 1355: 1343: 1331: 1156: 1131: 1078:Browning, E.S. (June 1, 2009). 472:The Travelers Insurance Company 349:Footnotes / references 154:(as St. Paul Fire & Marine) 2122:Ax, Joseph (August 22, 2012). 1858:"Travelers Cos. - Fortune 500" 1097: 1071: 1014: 989: 956: 930: 905: 778:golf tournament, formerly the 735: 705:Marsh & McLennan Companies 13: 1: 2821:Companies established in 1853 2354:Scism, Erik Holm and Leslie. 1021:Wolfsberg, Vernie H. (1946). 856: 852:, Current President & CEO 801:Current and former executives 584:insurers in the United States 358:The Travelers Companies, Inc. 323: 33:The Travelers Companies, Inc. 2629:Dow Jones Industrial Average 1732:. Zacks.com. October 2, 2015 1282:Rand, Slade (July 8, 2019). 1143:www.referenceforbusiness.com 730:New York State Supreme Court 687:Bond and Specialty Insurance 646:Dow Jones Industrial Average 530:The Travelers logo, ca. 1993 379:Dow Jones Industrial Average 373:, and its largest office in 164:(as The Travelers Companies) 145:; 171 years ago 7: 2282:The New York Times Magazine 1391:www.propertycasualty360.com 665:Business model and products 18:Travelers Insurance Company 10: 2877: 2151:. Reuters. August 22, 2012 521:a Crum and Forster Company 415: 27:American insurance company 2861:Risk management companies 2635: 728:, in a case filed in the 445:. It barely survived the 347: 333: 317: 297: 277: 257: 237: 218: 197: 183: 168: 139: 129: 108: 72: 62: 46: 37: 722:National Football League 2806:The Travelers Companies 2360:The Wall Street Journal 1923:The Wall Street Journal 1889:The Wall Street Journal 1501:The Wall Street Journal 1475:securities.stanford.edu 1263:. New York. p. D9. 1110:The Wall Street Journal 1084:The Wall Street Journal 761:or the cult video game 573:The Travelers Companies 1269:Historical Newspapers. 1027:The American Archivist 812:, former Travelers CEO 776:Travelers Championship 745: 629: 531: 501:knight's suit of armor 432: 2725:Johnson & Johnson 2468:on September 30, 2010 820:Willis Group Holdings 780:Greater Hartford Open 743: 627: 529: 423: 375:Hartford, Connecticut 55:Hartford, Connecticut 2755:Procter & Gamble 2085:. December 31, 2007. 880:. February 15, 2024. 460:In 1998 it acquired 381:since June 8, 2009. 360:, commonly known as 2836:Corporate spin-offs 2488:"Newspaper Archive" 2411:The Trentonian News 1450:Stanford Law School 822:, and owner of the 540:The Travelers Group 466:Baltimore, Maryland 319:Number of employees 53:Travelers Tower in 34: 2627:Components of the 2542:The New York Times 2103:. January 13, 2008 2067:. January 1, 2008. 2065:The New York Times 1782:. March 13, 2017. 1644:. November 4, 2010 1535:The New York Times 1417:The New York Times 1261:The New York Times 968:The New York Times 746: 681:Business Insurance 675:Personal Insurance 630: 569:St. Paul Travelers 532: 480:accident insurance 433: 205:Insurance policies 193:(Chairman and CEO) 121:Financial services 32: 2793: 2792: 2101:Insurance Journal 1965:. August 15, 2018 1925:. August 4, 2015. 1836:Digital Insurance 1810:Insurance Journal 1229:Insurance Monitor 901:. March 11, 2009. 759:"snowball" effect 618:majority interest 453:(as opposed to a 364:, is an American 355: 354: 311:US$ 24.92 billion 291:US$ 126.0 billion 271:US$ 2.991 billion 251:US$ 3.371 billion 190:Alan D. Schnitzer 16:(Redirected from 2868: 2650:American Express 2621: 2614: 2607: 2598: 2597: 2571: 2570: 2568:Official website 2554: 2553: 2551: 2549: 2532: 2526: 2525: 2523: 2521: 2515:Hartford Courant 2506: 2500: 2499: 2497: 2495: 2484: 2478: 2477: 2475: 2473: 2458: 2452: 2451: 2449: 2447: 2428: 2422: 2421: 2419: 2417: 2402: 2396: 2395: 2393: 2391: 2377: 2371: 2370: 2368: 2366: 2351: 2345: 2344: 2342: 2340: 2334:Hartford Courant 2325: 2319: 2318: 2316: 2314: 2299: 2293: 2292: 2290: 2288: 2273: 2267: 2266: 2264: 2262: 2256:Hartford Courant 2247: 2241: 2240: 2238: 2236: 2224: 2218: 2217: 2215: 2213: 2201: 2195: 2192: 2186: 2185: 2183: 2181: 2167: 2161: 2160: 2158: 2156: 2145: 2139: 2138: 2136: 2134: 2119: 2113: 2112: 2110: 2108: 2093: 2087: 2086: 2075: 2069: 2068: 2057: 2051: 2050: 2048: 2046: 2032: 2026: 2025: 2023: 2021: 2006: 2000: 1999: 1997: 1995: 1981: 1975: 1974: 1972: 1970: 1955: 1949: 1948: 1946: 1944: 1933: 1927: 1926: 1915: 1909: 1908: 1906: 1904: 1879: 1873: 1872: 1870: 1868: 1854: 1848: 1847: 1845: 1843: 1838:. 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Index

Travelers Insurance Company


Hartford, Connecticut
Public
Traded as
NYSE
TRV
DJIA
S&P 500
Insurance
Financial services
Citigroup
New York City
New York
Alan D. Schnitzer
Insurance policies
Risk management
US$
Operating income
Net income
Total assets
Total equity
travelers.com
insurance
New York City
Hartford, Connecticut
Dow Jones Industrial Average
United Kingdom
Ireland

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