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Article: The St. Paul Companies and Travelers Property Casualty to Merge, Creating Second Largest Commercial Insurer; Combined Company Will be a Leading Provider of Commercial and Personal Property Casualty Insurance Distributed Through Independent Agents and Brokers.
- Article from:
- PR Newswire
- Article date:
- November 17, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The St. Paul Companies, Inc. and Travelers Property Casualty Corp. today announced that they have signed a definitive merger agreement that will create the nation's second largest commercial insurer, to be known as The St. Paul Travelers Companies. The combined company will be a leading provider of property casualty insurance products distributed through independent agents and brokers and one of the largest financial services companies in the United States. It is expected to have total assets of $107 billion, shareholders' equity of $20 billion, total capital of $26 billion and net written premiums of $20 billion. With unparalleled product breadth and geographic reach, ...