Travelers Companies, Inc. history, profile and corporate video
The Travelers Companies, Inc. is an American insurance company headquartered in New York City, U.S. Its history derives from the main predecessor companies, The St. Paul Companies, Inc. and Travelers Property Casualty Corporation.
Saint Paul Fire and Marine Insurance Co.
It was founded on March 5, 1853, in St. Paul, Minnesota, serving local customers who were having a difficult time getting claim payments in a timely manner from insurance companies.
The Travelers Insurance Company
It was founded in Hartford by a stone contractor James G. Batterson, who became aware for the first time of accident insurance for travelers while traveling in England in 1859 from Leamington to London.
In 1995, it became The Travelers Group and in April 1998, it merged with Citicorp to form Citigroup.
In 2002, Citigroup spun off Travelers Property and Casualty into a subsidiary company.
In 2004, the St. Paul Companies merged with Travelers Companies to form St. Paul Travelers.
In 2007, the company changed its corporate name to The Travelers Companies and repurchased the rights to the famous red umbrella logo from Citigroup.
The original company logo was a knight’s suit of armor, but changed its official logo to the Travelers Tower in 1920, and then replaced that with the red umbrella in 1959.
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 Apollo program).
The company operates through the following business segments: Individuals and Business.
The Individuals segment provides home insurance, car insurance, renters insurance, condo insurance, boat and yacht insurance, landlord insurance, umbrella insurance, jewelry and valuable items coverage, wedding and events insurance, and travel insurance.
The Business segment involves products and solutions for a wide range of areas, including the following: boiler & machinery, commercial auto & trucking, cyber, environmental liability, excess casualty & umbrella, general liability, global insurance, inland marine, management & professional liability, national programs, ocean marine, property, small business owner’s policy, surety bonds, and workers compensation.
With more than 30 000 employees, The Travelers Companies, Inc. is considered one of the largest writers of U.S. commercial property-casualty insurance and one of the largest writers of U.S. personal insurance through independent agents. According to Forbes, it is considered one of the top 2000 largest public companies in the world.
*Information from Forbes.com, Wikipedia.org, and ”www.travelers.com”.
**Video published on YouTube by “Travelers“.