SAINT PAUL, Minn.--(BUSINESS WIRE)--April 1, 2004--St. Paul
Travelers today completed the merger that combines The St. Paul
Companies (NYSE:SPC) and Travelers Property Casualty Corp. (NYSE:TAP.A
and TAP.B). Beginning tomorrow morning, April 2, 2004, St. Paul
Travelers Companies stock will be listed on the New York Stock
Exchange under the symbol "STA."
The combined company is uniquely positioned as the commercial
insurer of choice for independent agents and brokers across the United
States. The company also offers homeowners, auto and other insurance
products for individuals and families under the highly regarded
Travelers brand.
"This combination of two industry leaders positions us to better
fulfill our commitment to serve independent agents and brokers and our
insured customers," said Jay S. Fishman, Chief Executive Officer of
St. Paul Travelers. "We are grateful for the strong support for this
merger demonstrated by shareholders, agents, brokers, employees and
the communities we serve. We are excited to now move forward as one
entity that has the experience and resources of both companies,
coupled with an unsurpassed breadth of insurance products."
"St. Paul Travelers brings together the best of both companies,
including skilled and dedicated employees with similar
performance-based cultures and underwriting skills. The merger also
creates a stronger national distribution network across all product
lines," said Robert I. Lipp, Chairman of St. Paul Travelers. "We look
forward to exploring the expanded opportunities available to the
independent agents and brokers we serve, created through St. Paul
Travelers' broad product array and our continued appetite for growth."
About St. Paul Travelers
St. Paul Travelers is a leading provider of commercial
property-liability insurance and asset management services. Under the
Travelers brand, the company is also a leading underwriter of
homeowners and auto insurance through independent agents. The company
has a current market capitalization of approximately $27 billion. For
more information, visit www.stpaultravelers.com.
Forward Looking Statement
This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform act of 1995.
All statements other than statements of historical facts may be
forward-looking statements. Many risks and uncertainties may impact
the matters addressed in forward-looking statements, and actual
results may differ materially from those expressed or implied. For a
discussion of the factors that could cause actual results to differ,
please see the disclosure under the heading "Forward-Looking Statement
Disclosure and Certain Risks" in The St. Paul's most recent annual
report on Form 10-K and under the heading "Forward Looking Statements"
in Travelers most recent annual report on Form 10-K, in each case
filed with the Securities and Exchange Commission.
CONTACT: St. Paul Travelers
Media:
Shane Boyd, 651-310-3846
or
Joan Palm, 651-310-2685
or
Marlene Ibsen, 860-277-9039
or
Institutional Investors:
Maria Olivo, 860-277-8330
or
Laura Gagnon, 651-310-7696
or
Individual Investors:
Marc Parr, 860-277-0779
SOURCE: St. Paul Travelers