Who owns travelers insurance

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To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. Next accounts made up to 31 December due by 30 September Last accounts made up to 31 December Burbank died in , and the company's secretary, Charles H. Bigelow, was elected president. Shortly thereafter The St. Paul was faced with the insurance price war of The insurance market was becoming more competitive as the country grew and prospered.

The result was too many insurance companies offering lower prices to compete. Under Bigelow's leadership the company dropped unprofitable agencies, introduced new products such as cyclone insurance and crop hail coverage, and instituted more stringent guidelines in accepting new customers.

Paul rode out the price war intact, without lowering its rates. Insurance buyers were not only affected by the price; product and service diversity were also important to a successful business plan.

During the late 19th century, the company expanded into new types of insurance coverage. Paul's new product development plans, however. In Charles Bigelow died, and his son, Frederic Bigelow, succeeded him as president.

Paul adjusted its charter to include losses incurred resulting from acts of war. In The St. During the war The St. Paul began overseas expansion in a modest fashion, when it began to issue policies in Great Britain to cover losses incurred as a result of bomb damage, but in a relatively short period of time the British government cut the rates charged by U. Paul, however, continued to insure against bomb damage in England for the duration of the war. Paul also added automobile insurance to its product line during this period.

As a result of massive losses incurred during World War I, most European insurance companies were all but paralyzed. The company was soon doing business in 25 foreign markets, and another period of diversification and new product development began. Throughout the s The St. Paul introduced all-risk coverage for the jewelry trade and for other "priceless objects" of artistic and historical significance.

The policy insured items in transit from almost every known risk, except theft, because fire and marine insurance companies were prohibited from writing liability coverage.

Paul's leadership decided, therefore, that a liability company was needed, and in a subsidiary, St. Paul Mercury Indemnity Company, was formed. Paul also added aircraft insurance and surety bonds to its product line in After serving as The St.

Paul's president for 27 years, Frederic Bigelow became chairman in , and Charles F. Codere became The St. Paul's fifth president. At the onset of the war, U. In Codere became chairman, and A. Jackson was elected The St. Paul's new president.

Codere and Jackson worked well together, and the company greatly expanded its product lines and services. Liability insurance was offered to real estate brokers, insurance agents, and hospitals. Paul refined its package policy program, allowing its agents to offer more and diverse coverage in one policy. Package policies had been introduced during World War II to provide the military with an insurance package to cover liability, shipping, and fire insurance.

This method of issuing coverage continued after the war, with The St. Paul offering packages for a variety of commercial risks. Jackson also was instrumental in the organization of two new associations to insure nuclear reactors. Paul broke into the life insurance market.

By Western Life sales had more than doubled. Paul's agents were now able to sell all forms of insurance, sales volume continued to increase, and The St. Paul acquired several general agencies, which sold the insurance products of many different companies, to work with its independent agents more effectively. Management training programs were also initiated in , computers were installed in to speed up the handling and processing of information, and in The St.

Paul rebuilt and enlarged its offices. When Codere retired in , Jackson succeeded him and Ronald M. Hubbs became The St. Paul's next president. During the s the emphasis was on customer service. Hubbs was instrumental in the development of more than 40 property and liability service centers nationwide. Each center was self-contained; it had its own underwriters, risk management staff, marketing, claims and policy services, and office support personnel.

The company believed decentralization would bring it closer to its customers. Paul reorganized. The name St.