The Travelers Companies, Inc. is a holding company that provides commercial and personal property and casualty insurance products and services. The company operates through its subsidiaries, offering a wide array of insurance solutions to businesses, government entities, associations, and individuals. Travelers is one of the oldest insurance organizations in the United States, dating back to 1853. The company's competitive advantages include its ability to profitably price business, agent and broker relationships, and the ability to adapt to changes in business models and technology. Key markets include the United States, Canada, the United Kingdom, and the Republic of Ireland. The company competes with both foreign and domestic insurers, as well as other entities offering risk alternatives.

• Employees: 33,300 (as of December 31, 2023)
• Geographic Footprint: Primarily in the United States, Canada, the United Kingdom, and the Republic of Ireland
• Headquarters: New York, NY
• Founded: 1853
• Number of locations/facilities: Approximately 160 field and claim offices in the U.S. and additional offices in Canada, the UK, and Ireland, plus 6 owned buildings in Hartford, CT and other locations.
• Revenue: $37.76 billion (FY2023)
• Market capitalization: $39.6 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Business Insurance, Bond & Specialty Insurance, Personal Insurance

• CEO: Alan D. Schnitzer
• CFO: Daniel S. Frey
• Board Chair: Alan D. Schnitzer
• Other Key Executives:
  • Andy F. Bessette - Executive Vice President and Chief Administrative Officer
  • Michael F. Klein - Executive Vice President and President, Personal Insurance
  • Jeffrey P. Klenk - Executive Vice President and President, Bond & Specialty Insurance
  • Diane Kurtzman - Executive Vice President and Chief Human Resources Officer
  • Mojgan M. Lefebvre - Executive Vice President and Chief Technology & Operations Officer
  • Maria Olivo - Executive Vice President, Strategic Development and President, International
  • David D. Rowland - Executive Vice President and Co-Chief Investment Officer
  • Gregory C. Toczydlowski - Executive Vice President and President, Business Insurance
  • Daniel T.H. Yin - Executive Vice President and Co-Chief Investment Officer

Key executives have extensive experience in the insurance and financial industries, with many having served in their current roles for several years.

• Annual Revenue: $37.76 billion (FY2023)
• Net Income: $2.99 billion
• Market Cap: $39.6 billion (as of June 30, 2023)
• Total Assets: $125.98 billion
• Employees: 33,300 (as of December 31, 2023)
• Key Financial Highlights:
  • Combined ratio of 97.0%
  • Net investment income of $2.92 billion
  • Net realized investment losses of $105 million
  • Operating cash flows of $7.71 billion

Travelers offers a wide range of insurance products and services, including:

• Business Insurance: Provides property and casualty insurance products and services for small, mid-sized, and large businesses, including commercial multi-peril, workers' compensation, commercial automobile, general liability, and specialized coverages.
• Bond & Specialty Insurance: Offers surety, fidelity, management liability, professional liability, and other property and casualty coverages, primarily in the U.S., Canada, the UK, and Ireland.
• Personal Insurance: Provides automobile and homeowners insurance, as well as other related coverages, primarily in the U.S. and Canada.

The company operates through three main business segments:

• Business Insurance: This segment provides a variety of property and casualty insurance products and services to businesses. In 2023, this segment generated $20.43 billion in net written premiums.
• Bond & Specialty Insurance: This segment offers surety, fidelity, management liability, professional liability, and other property and casualty coverages. In 2023, this segment generated $3.84 billion in net written premiums.
• Personal Insurance: This segment provides automobile and homeowners insurance, as well as other related coverages. In 2023, this segment generated $15.93 billion in net written premiums.

Travelers' current strategic priorities include maintaining high-quality underwriting discipline, enhancing customer experience, and leveraging technology and data analytics. The company focuses on profitable growth over time rather than premium volume or market share. Key strategic initiatives include investments in technology and information systems, including artificial intelligence, and the development of new products and services to meet changing customer needs. The company also emphasizes a disciplined approach to underwriting and risk management.

• Key strategic initiatives include:
  • Investments in technology and information systems, including AI.
  • Development of new products and services to meet changing customer needs.
  • Disciplined approach to underwriting and risk management.
• Growth drivers include:
  • Focus on profitable growth over time rather than premium volume or market share.
  • Emphasis on product returns and profitable growth.
  • Ability to adapt to changes in business models, technology, customer preferences or regulation.

Travelers operates in the highly competitive property and casualty insurance industry. Key market trends affecting the business include technological advancements, changing customer preferences, and regulatory changes. The company competes with both foreign and domestic insurers, as well as other entities offering risk alternatives. The company's market position is based on its ability to profitably price business, retain existing customers and obtain new business, agent and broker relationships, and financial strength. The company is one of the largest servicing carriers in the workers' compensation assigned risk market.

• Primary Industry: Property and Casualty Insurance
• Key Competitors: Numerous foreign and domestic insurers, as well as other entities offering risk alternatives.
• Market Trends: Technological advancements, changing customer preferences, regulatory changes, and the increasing use of data and analytics.

• Market Risks: Intense competition, changing customer preferences, and the impact of innovation and technological change on the insurance industry.
• Operational Risks: Difficulties with technology, data and network security, including cyber attacks, and the impact of outsourcing relationships or cloud-based technology.
• Financial Risks: Exposure to credit risk, including the ability to collect amounts due from reinsurers and credit risk related to structured settlements, and interest rate risk.
• Regulatory Risks: Changes in insurance regulations, including those related to rates, policy forms, and the ability to manage catastrophe risk.
• Catastrophe Risks: High levels of catastrophe losses, including as a result of factors such as increased concentrations of insured exposures in catastrophe-prone areas and changing climate conditions.