You are here:HomeNews CenterInsurance News2003St. Paul, Travelers Announce Merger Agreement

St. Paul, Travelers Announce Merger Agreement

The St. Paul Companies, Inc. and Travelers Property Casualty Corp. today announced that they have signed a definitive merger agreement that will create the nation's...
November 18, 2003

The St. Paul Companies, Inc. and Travelers Property Casualty Corp. today announced that they have signed a definitive merger agreement that will create the nation's second largest commercial insurer, to be known as The St. Paul Travelers Companies. The combined company will be a leading provider of property casualty insurance products distributed through independent agents and brokers and one of the largest financial services companies in the United States. The entity is expected to have total assets of $107 billion, shareholders' equity of $20 billion, total capital of $26 billion and net written premiums of $20 billion.

The St. Paul Travelers Companies will remain a Minnesota corporation and will have its corporate headquarters in Saint Paul, Minnesota. The combined company's commercial lines and personal lines business will be consolidated under the Travelers brand and based in Hartford, Connecticut. The transaction is expected to close in the second quarter of 2004. More

Filed under: