Travelers is a publicly traded company, owned by its shareholders. The main shareholders are The Vanguard Group, BlackRock and St Paul Investment Management Company. The Travelers Institute is the public policy division of Travelers, with the mission to leverage the industrial and technical expertise of travelers, together with the knowledge of experts from the public and private sectors, to help address the most pressing challenges faced by our industry, our customers and the communities we serve. Travelers first issued a regular insurance policy on April 5, 1864, but informally entered into its first insurance contract a month earlier.
Traveler insurance has no parent company and is owned by its shareholders. In 2003, Travelers purchased the renewal rights for Royal & SunAlliance commercial and personal insurance companies. Geico owns a subsidiary called Geico Insurance Agency, which sells policies from a variety of companies, including Travelers. Customers can purchase homeowners and condo insurance policies for travelers at the Geico insurance agency.
Additionally, Geico auto insurance customers can get personalized quotes for other types of insurance through the Geico app. In 1996, Travelers Group bought the property and accident insurance businesses of Aetna Life and Casualty Company. Two years later, St Paul Life Insurance Company was created to market life insurance through independent agents representing St Paul Fire and Marine. In 2002, Citigroup split Travelers Property and Casualty into a subsidiary, although it kept the red umbrella logo.
Budd replaced Beach as president in 1982, at a time when the insurance industry was struggling due to unprecedented health care costs and strong competition among insurers. After World War I, in May 1919, the Travelers introduced a comprehensive aviation insurance program that included life policies, civil liability, workers' compensation and passenger accidents. That year it sold the first accident insurance in the United States and in 1865 it began selling life insurance, thus becoming the first company in the country to offer more than one type of insurance. Zippia takes an in-depth look at the details of The Travelers Companies, including salaries, political affiliations, employee data, and more, to inform job applicants about The Travelers Companies.
