Travelers 2002 Annual Report Download - page 17

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Please find page 17 of the 2002 Travelers annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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“Construction is vital to the U.S. economy, accounting for 5 percent of GDP. Growth will be flat in the short
term due to the economic slowdown and budget deficits in many states, but The St. Paul’s Construction
underwriting operations are still poised to prosper. We have unmatched expertise in this segment. No one
has our level of service: one-third of our unit’s employees work in construction risk control. More than half our
business is produced by 70 agents who themselves specialize in construction accounts. With this combina-
tion, we can retain good quality accounts. Longer term, the outlook is strong. In the next 50 years, the nation’s
population is expected to double. We will need places to live, factories where goods are manufactured,
schools where children learn, stores to buy from, and streets and roads to get us to and from all of them –
a very promising future for the construction industry and for our construction specialty business.”
—Tony de Padua, president, Construction
From St. Paul Construction, left to right: Barry Seago,
vice president-field operations; Jim Conroy, strategy
officer; Jennifer Lee, assistant vice president-Eastern
Region; Dennis Karus, chief underwriting officer;
Tony de Padua, president; Richard Anderson, assistant
vice president-construction wrap-up; Lynda Atkinson,
assistant vice president-Western Region.
15