The Travelers Companies
The Travelers Companies, Inc., commonly known as Travelers, is an American insurance 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.[3][4] Travelers is incorporated in Minnesota, with headquarters in New York City, and its largest office in Hartford, Connecticut.[2] It has been a component of the Dow Jones Industrial Average since June 8, 2009.[5]
Company type
1853 (as St. Paul Fire & Marine)
2004 (as The Travelers Companies)
New York City, New York, United States
Alan D. Schnitzer
(Chairman and CEO)
US$41.36 billion (2023)
US$3.371 billion (2023)
US$2.991 billion (2023)
US$126.0 billion (2023)
US$24.92 billion (2023)
c. 33,300 (2023)
The company has field offices in every U.S. state, plus operations in the United Kingdom, Ireland, Singapore, China, Canada, and Brazil. Travelers ranked No. 98 in the 2021 Fortune 500 list of the largest United States corporations with total revenue of $32 billion.[6]
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:[44]
Alleged anticompetitive practices[edit]
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.[45][46] The charges involved paying the insurance broker Marsh & McLennan Companies contingent commissions to win business without the knowledge of clients, thus creating a conflict of interest.[47] Additionally, the investigation examined whether Travelers had created the illusion of competition by submitting fake bids,[48] thus misleading clients into believing they were receiving competitive commercial premiums.[49]
National Football League lawsuit[edit]
In August 2012, Travelers sued the National Football League for forcing the company and its subsidiaries to pay to defend the league for failing to protect players from brain injury, in a case filed in the New York State Supreme Court. 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.[50][51][52]