One Tower Square, 2MS
Hartford, CT 06183
Travelers Insurance is a property and casualty insurance provider and part of the risk management industry. Incorporated as St. Paul Fire & Marine in 1853, Travelers Property Casualty Corporation merged with The St. Paul Companies in 2004, forming Travelers Insurance. Its key people include Jay Fishman as the company Chairman and Chief Executive Officer.
The Travelers Companies is the biggest American insurance company by market value, and the second biggest writer of commercial property casualty and personal insurance in the United States. It has been a component of the Dow Jones Industrial Average since June 8, 2009. The company is number 98 on the Fortune 500 list of largest U.S. Companies, with approximately 30,000 employees. Its competitive advantages include a considerable financial strength, superior depth and breadth of product offerings, cutting-edge technology platforms, fast, fair, effective claims handling, innovative risk control services, well-recognized brand names in the personal and commercial insurance marketplace, strong distribution presence with broad geographic presence across the U.S., experienced and well-regarded management team, and strong underwriting culture.
Travelers Insurance is headquartered in St. Paul, Minnesota, and Hartford, Connecticut, with major operations in New York, New York. It has field offices in every state in the U.S., and has operations in the United Kingdom, Ireland, Singapore, China, and Canada. In 2009, its revenue reached approximately U.S. $25 billion, with operating income of $3.6 billion, shareholders’ equity of $27 billion, net income of $3.622 billion, and total assets of US $109.6 billion.
Through its subsidiaries and roughly 14,000 independent agents and brokers, Travelers Insurance offers commercial and personal property and casualty insurance products and services to individuals, associations, businesses, and government units. It provides 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; and financial, professional and international insurance, which includes surety, crime, and financial liability businesses. These insurance policies chiefly use credit-based underwriting processes, including property and casualty products that are predominantly marketed on an international basis. Travelers Insurance’s insurance policies are contracted and sold chiefly through independent agents or an insurance broker.
Along with Jay Fishman as the Chairman and CEO, Travelers Insurance’s management team is composed of Brian MacLean, as the President and Chief Operating Officer, Jay Benet as the Vice Chairman and Chief Financial Officer, Charles Clarke and Irwin Ettinger as Vice Chairman, William Heyman as Vice Chairman and Chief Investment Officer, and Alan Schnitzer, as Vice Chairman and Chief Legal Officer for financial, professional and international insurance.
Travelers Insurance also offers support for charitable organizations through the Travelers Foundation, as well as through corporate funding and in-kind services. The company’s community giving is mostly focused on public education reform and enhancing academic and career success for underrepresented youth in Saint Paul, Minnesota and Hartford, Connecticut. The rest of Travelers’ civic and charitable giving resources in these cities are targeted to the local needs in the areas of community development and the arts.