The Travelers Companies is one of the largest property and casualty insurers in the United States. It reported $48.828 billion in total revenues and $6.288 billion in net income for 2025, and wrote a record $44.4 billion of net premiums.
Two roots: St. Paul and Hartford
The company combines St. Paul Fire and Marine, founded in Minnesota in 1853, and The Travelers Insurance Company, organized in Hartford in 1864 by James G. Batterson to sell accident insurance to rail travellers. Travelers later became part of Sanford Weill's Travelers Group, which merged with Citicorp in 1998 to form Citigroup. Citigroup spun off the property-casualty business in 2002, and it merged with The St. Paul Companies in 2004. The company reclaimed the red umbrella and the Travelers Companies name in 2007.
How Travelers makes money
Travelers collects premiums through Business Insurance, Bond & Specialty Insurance and Personal Insurance, pays claims, and invests the float in a mostly fixed-income portfolio. Underwriting profit plus investment income drive earnings. Most policies are sold through independent agents and brokers rather than directly to consumers.
2026: sharper focus, strong margins
On January 2, 2026, Travelers completed the sale of its Canadian personal business and most of its Canadian commercial business to Definity for about US$2.4 billion. In the second quarter of 2026 it earned $2.208 billion, with an 83.6% combined ratio, lower catastrophe losses and 14% higher after-tax investment income. It returned $1.577 billion to shareholders in that quarter.
Competitors and risks
Travelers competes with Chubb, AIG, Liberty Mutual and The Hartford in commercial lines, and with State Farm, Progressive, Allstate and GEICO in personal lines. Key risks are catastrophe losses, legal-system inflation and softer commercial pricing.
