Travelers vs W. R. Berkley: Founders, CEOs and History
Travelers was founded in 1853 by Eliphalet Terry, Henry R. Fitch and is led by Alan Schnitzer. W. R. Berkley was founded in 1967 by William R. Berkley and is led by W. Robert Berkley, Jr..
Company facts
Travelers
- Founded
- 1853
- Headquarters
- New York, New York
- Current CEO
- Alan Schnitzer
- Employees
- 32,500
W. R. Berkley
- Founded
- 1967
- Headquarters
- Greenwich, Connecticut
- Current CEO
- W. Robert Berkley, Jr.
- Employees
- 8,800
Founders
Travelers
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.
W. R. Berkley
William R. Berkley
William R. Berkley founded W. R. Berkley Corporation in 1967 and led it for nearly 50 years, first as CEO and then, from 2015, as executive chairman. He built the company into a Fortune 500 commercial insurer organized around specialized underwriting units.
CEOs and their tenures
Travelers
- Robert I. Lipp2001–2004
Chairman and Chief Executive Officer, Travelers Property Casualty
He agreed the 2004 merger with St. Paul Companies and became chairman of the combined company. Jay Fishman became chief executive.
Source - Jay Fishman2004–2015
Chairman and Chief Executive Officer
Serving as CEO until his tragic death from ALS in 2015, he is universally recognized as the absolute architect of the modern Travelers Companies, deeply cementing its status as a Dow Jones Industrial Average component.
Source - Alan D. Schnitzer2015–present
Chairman and Chief Executive Officer
Schnitzer joined Travelers in 2007 as general counsel, later ran Business and International Insurance, became CEO in December 2015 and chairman in 2017.
Source - Daniel S. Frey2018–present
Executive Vice President and Chief Financial Officer
As CFO, he provides the absolutely critical financial discipline required to navigate the highly volatile property and casualty insurance market.
Source
W. R. Berkley
- William R. Berkley1967–2026
Founder and Executive Chairman
As the legendary Founder (who started the company while studying at Harvard Business School in 1967), he built an absolutely massive, highly profitable specialty insurance empire, famously refusing to compete on price during soft markets.
Source - W. Robert Berkley, Jr.2015–present
Chairman, President and CEO
Leads the company's cycle-management approach. In Q2 2026 that meant growing Insurance segment premiums 5.4% while Reinsurance & Monoline Excess premiums declined, and returning $334.1M to shareholders in the quarter.
Source
Timeline: Travelers and W. R. Berkley side by side
1853Travelers
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.
1864Travelers
Travelers accident insurance roots
The Travelers name became associated with accident insurance in Hartford during the railroad era, laying the brand foundation for later expansion.
1967W. R. Berkley
Company Founded
William R. Berkley founds the business that becomes W. R. Berkley Corporation.
1973W. R. Berkley
Public Listing
W. R. Berkley becomes a publicly traded company.
1998Travelers
Travelers 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.
2002Travelers
Separation From Citigroup
Citigroup spun off Travelers Property Casualty in 2002.
2004Travelers
St. 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.
2007Travelers
Renamed The Travelers Companies
St. Paul Travelers reacquired the red umbrella trademark from Citigroup and adopted The Travelers Companies, Inc. name.
2009Travelers
Added to the Dow Jones Industrial Average
Travelers joined the Dow Jones Industrial Average in June 2009, replacing Citigroup.
2015W. R. Berkley
CEO Succession
W. Robert Berkley, Jr. becomes CEO and William R. Berkley becomes executive chairman.
2017Travelers
Simply Business acquisition
Travelers acquired Simply Business, expanding digital small-business insurance capabilities.
2024Travelers
Corvus Insurance acquired
Travelers completed its purchase of cyber insurance specialist Corvus for about $435 million.
2025Travelers
2025 total revenues reach $48.828B
Travelers reported $48.828 billion in total revenues and $6.288 billion in net income for 2025.
2025W. R. Berkley
FY2025 Revenue of $14.71B
Total revenues reach $14.71B and net income to common stockholders reaches $1.78B.
2026Travelers
Canada 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.
2026Travelers
Q2 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.
2026W. R. Berkley
Mitsui Sumitomo Completes 15% Stake
Mitsui Sumitomo Insurance, part of MS&AD, completes its purchase of 15% of W. R. Berkley's outstanding common stock in Q1 2026.
2026W. R. Berkley
Founder Dies
Founder and executive chairman William R. Berkley dies on June 9, 2026, at age 80.
2026W. R. Berkley
Record Q2 2026 Premiums
Gross premiums written reach a record $4.14B and net income to common stockholders is $452.3M.
Acquisitions
Travelers
- Corvus Insurance2024$435M
- Simply Business2017$490M
- The Dominion of Canada General Insurance Company2013Undisclosed
- USF&G1998Undisclosed
W. R. Berkley
- Garnet Captive Services2006Undisclosed
- MECC1995$138M
- Key Risk Management Services1994Undisclosed
Questions about Travelers vs W. R. Berkley
Who is the CEO of The Travelers Companies, Inc. and W. R. Berkley Corporation?
The Travelers Companies, Inc. is led by Alan Schnitzer and W. R. Berkley Corporation is led by W. Robert Berkley, Jr.. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was The Travelers Companies, Inc. founded vs W. R. Berkley Corporation?
The Travelers Companies, Inc. was founded in 1853 — 114 years before W. R. Berkley Corporation, which was founded in 1967. The Travelers Companies, Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger W. R. Berkley Corporation.
How many employees does The Travelers Companies, Inc. have compared to W. R. Berkley Corporation?
The Travelers Companies, Inc. employs approximately 32,500 people, while W. R. Berkley Corporation employs approximately 8,800. The Travelers Companies, Inc. has the larger workforce at 32,500 employees, compared to W. R. Berkley Corporation's 8,800. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are The Travelers Companies, Inc. and W. R. Berkley Corporation headquartered?
Both The Travelers Companies, Inc. and W. R. Berkley Corporation are headquartered in United States. Their local rules and tax obligations may still differ.
Who founded The Travelers Companies, Inc. and W. R. Berkley Corporation?
The Travelers Companies, Inc. was founded by Eliphalet Terry, Henry R. Fitch. W. R. Berkley Corporation was founded by William R. Berkley.
Which company has a longer operating history — The Travelers Companies, Inc. or W. R. Berkley Corporation?
The Travelers Companies, Inc. has been operating for approximately 173 years, making it the more established of the two companies. W. R. Berkley Corporation has been in operation for around 59 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Travelers vs W. R. Berkley overview