The Travelers Companies, Inc.
Company History
Travelers History: Founding, Growth & Key Milestones
Founded 1853 in Saint Paul, Minnesota, United States
When was Travelers founded?
Travelers was founded in 1853 in Saint Paul, Minnesota, United States by Eliphalet Terry and Henry R. Fitch, making it 173 years old.
- Founded
- 1853
- Founding place
- Saint Paul, Minnesota, United States
- Founders
- Eliphalet Terry and Henry R. Fitch
- Headquarters today
- New York, New York
- Milestones documented
- 12 (1853–2026)
- Current CEO
- Alan Schnitzer
- Acquisitions
- 4
| Year | Event |
|---|---|
| 1853 | Oldest insurance roots date to 1853 |
| 1864 | Travelers accident insurance roots |
| 1998 | Travelers Group and Citicorp form Citigroup |
| 2002 | Separation From Citigroup |
| 2004 | St. Paul and Travelers merger |
| 2007 | Renamed The Travelers Companies |
| 2009 | Added to the Dow Jones Industrial Average |
| 2017 | Simply Business acquisition |
| 2024 | Corvus Insurance acquired |
| 2025 | 2025 total revenues reach $48.828B |
| 2026 | Canada sale to Definity closes |
| 2026 | Q2 2026 net income of $2.208B |
- Where was Travelers founded?
- Travelers was founded in Saint Paul, Minnesota, United States in 1853. wikidata.org
- Who founded Travelers?
- Travelers was founded by Eliphalet Terry and Henry R. Fitch.
- When did Travelers start?
- Travelers was founded in 1853.
- How old is Travelers?
- Travelers is 173 years old as of 2026.
Founding Story
Travelers' modern company combines two 19th-century insurers. The St. Paul Fire and Marine Insurance Company was formed in Saint Paul, Minnesota, in 1853, which is why Travelers dates its roots to that year. The Travelers Insurance Company was organized in Hartford, Connecticut, in 1864 by James G. Batterson and a group of local investors to sell accident insurance to people travelling by rail and steamboat. Over the next century Travelers expanded into life, liability and auto coverage. In the 1990s it became part of Sanford Weill's Travelers Group, which merged with Citicorp in 1998 to form Citigroup. Citigroup spun off Travelers Property Casualty in 2002, and in 2004 it merged with The St. Paul Companies to form St. Paul Travelers. The company took back the red umbrella logo from Citigroup in 2007 and renamed itself The Travelers Companies, Inc.
Founders
Eliphalet Terry
Eliphalet Terry was a Hartford businessman and insurance executive whom the company lists among its founders. He is associated with Hartford's mid-19th-century insurance community that helped launch Travelers. (Exact birth year remains publicly undisclosed).
Henry R. Fitch
Henry R. Fitch (often credited alongside James G. Batterson) helped found the original Travelers Insurance Company in 1864 in Hartford, Connecticut. They introduced the absolute first travel insurance policies to the United States, specifically designed to protect passengers against the massive, terrifyingly frequent train crashes of the early railroad era. (Exact birth year remains publicly undisclosed).
Key Milestones
Oldest insurance roots date to 1853
Travelers traces part of its history to insurance organizations dating back to 1853, making it one of the oldest names in U.S. insurance.
Source: sec.govTravelers accident insurance roots
The Travelers name became associated with accident insurance in Hartford during the railroad era, laying the brand foundation for later expansion.
Source: sec.govTravelers Group and Citicorp form Citigroup
Sanford Weill's Travelers Group merged with Citicorp to create Citigroup. The property-casualty business was spun off again in 2002.
Source: en.wikipedia.orgSeparation From Citigroup
Citigroup spun off Travelers Property Casualty in 2002.
Source: en.wikipedia.orgSt. Paul and Travelers merger
The merger of The St. Paul Companies and Travelers created a major property and casualty insurer with greater commercial lines scale.
Source: sec.govRenamed The Travelers Companies
St. Paul Travelers reacquired the red umbrella trademark from Citigroup and adopted The Travelers Companies, Inc. name.
Source: en.wikipedia.orgAdded to the Dow Jones Industrial Average
Travelers joined the Dow Jones Industrial Average in June 2009, replacing Citigroup.
Source: en.wikipedia.orgSimply Business acquisition
Travelers acquired Simply Business, expanding digital small-business insurance capabilities.
Source: investor.travelers.comCorvus Insurance acquired
Travelers completed its purchase of cyber insurance specialist Corvus for about $435 million.
Source: en.wikipedia.org2025 total revenues reach $48.828B
Travelers reported $48.828 billion in total revenues and $6.288 billion in net income for 2025.
Source: sustainability.travelers.comCanada sale to Definity closes
On January 2, 2026, Travelers completed the sale of its Canadian personal insurance business and most of its Canadian commercial business to Definity for about US$2.4 billion.
Source: businesswire.comQ2 2026 net income of $2.208B
Second-quarter net income rose to $2.208 billion, with an 83.6% combined ratio and lower catastrophe losses.
Source: investor.travelers.comMajor Acquisitions
USF&G
1998The St. Paul Companies acquired USF&G, adding surety and commercial lines scale that later became part of Travelers.
The Dominion of Canada General Insurance Company
2013Expanded Travelers' Canadian personal and commercial business. Most of this business was sold to Definity in 2026.
Simply Business
2017Acquired UK digital small business insurance broker Simply Business to accelerate digital direct-to-consumer commercial insurance.
Corvus Insurance
2024Acquired leading cyber insurance managing general underwriter (MGU) Corvus to establish industry-leading cyber underwriting capabilities.
Keep researching Travelers
Travelers Company History FAQ
When, where, and how was The Travelers Companies founded?
The Travelers Companies traces its heritage to two historic insurers: Saint Paul Fire and Marine Insurance Company, founded on March 5, 1853, in Saint Paul, Minnesota, and The Travelers Insurance Company, founded in 1864 in Hartford, Connecticut, by James G. Batterson.
What was the origin of The Travelers Insurance Company in 1864?
While traveling in England in 1859, James G. Batterson bought a railway passenger accident insurance ticket. Inspired by the concept, he secured a charter in Hartford, Connecticut, in 1863 to offer travel accident protection, issuing its first policy in 1864.
What pioneering insurance policies did Travelers introduce historically?
Travelers issued the world's first automobile insurance policy in 1897 to Gilbert Loomis, the first commercial aircraft policy in 1919 to Orville Wright, and the first space travel accident policy in 1969 covering Apollo 11 astronauts Neil Armstrong, Buzz Aldrin, and Michael Collins.
How did Saint Paul Fire and Marine handle claims during the 1906 San Francisco earthquake?
Following the devastating 1906 earthquake and fire, Saint Paul Fire and Marine promptly paid out over $4 million in claims in full and without dispute, cementing its national reputation for financial strength and integrity.
What is the history behind the famous red umbrella logo?
First introduced in 1870 and popularized in 1959, the red umbrella symbolized shelter against life's storms. When Travelers merged into Citigroup in 1998, Citigroup adopted the umbrella; Travelers bought the trademark back in 2007 after regaining corporate independence.
How did the 2004 merger between The St. Paul Companies and Travelers create today's firm?
The St. Paul Companies acquired Travelers Property Casualty Corp. for $16 billion in 2004 to create St. Paul Travelers, unifying two historic insurers and later rebranding as The Travelers Companies, Inc. in 2007.
When was Travelers added to the Dow Jones Industrial Average (DJIA)?
On June 8, 2009, Travelers was added to the Dow Jones Industrial Average, replacing Citigroup and solidifying its status as an essential blue-chip financial cornerstone of the American economy.
How did Travelers navigate the 2008 global financial crisis?
Unlike competitors such as AIG, Travelers avoided speculative credit default swaps, subprime mortgage lending, and risky derivatives, relying on disciplined property and casualty underwriting and emerging from the crisis with capital intact.
What was the significance of the 2017 Simply Business acquisition?
Travelers acquired UK-based digital insurance broker Simply Business for approximately $490 million to accelerate digital distribution capabilities and online policy binding for small businesses and self-employed professionals.
What is the Travelers Institute and how does it shape public policy?
Established in 2009, the Travelers Institute serves as the company's public policy division, conducting national symposia and research on cybersecurity risks, autonomous vehicle regulation, small business resilience, and disaster preparedness.
Who have been the key chief executives leading Travelers since the 2004 merger?
Jay S. Fishman served as CEO from 2004 to 2015, orchestrating the post-merger integration and establishing financial discipline. Alan D. Schnitzer succeeded him in December 2015, driving digital innovation and record underwriting profitability.
How large is Travelers today in annual revenues and investment float?
In 2025, Travelers generated $48.8 billion in total revenues and $6.3 billion in net income, writing $44.4 billion in net premiums and managing an investment float portfolio exceeding $100 billion.
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