Travelers 2002 Annual Report Download - page 2

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In This Report:
Financial Highlights page 2
Letter to Shareholders from Jay Fishman page 3
Chairman and CEO Jay Fishman discusses the 2002 repositioning of
The St. Paul, including the exiting or refocusing of underperforming busi-
nesses and the implementation of new strategies to enhance future growth.
The St. Paul Companies at a Glance page 7
Get to know The new St. Paul
Commercial Middle Market page 8
Middle Market improves not only the ‘what’ of the business but
also the ‘how’ by focusing on service to agents and brokers.
Small Commercial page 10
The tools and products are in place for Small Commercial’s
expansion into the small business insurance marketplace.
Oil and Gas page 12
Underwriting expertise and a specialty focus establish Oil and Gas
as an industry leader.
Construction page 14
The long-term outlook for new construction in the United States is
strong, and Construction is poised to take advantage of that growth.
Technology page 16
Innovation and a comprehensive array of products and services
position us as a unique insurance provider to the technology sector.
Claim page 18
Our reputation for fast, fair and effective claim handling demonstrates
our commitment to exceptional customer service.
Nuveen Investments page 20
Delivering high-quality, consistent earnings growth for customers
shows Nuveen’s drive for excellence in managing a conservative,
well-diversified portfolio.
Financial Review
Forward-looking Statement Disclosure and Certain Risks page 22
Management’s Discussion and Analysis page 23
Six-year Summary of Selected Financial Data page 57
Independent Auditors’ Report page 58
Management’s Responsibility for Financial Statements page 58
Financial Statements page 59
Notes to Financial Statements page 63
150 Years of Integrity page 92
As The St. Paul marks its 150th anniversary, it looks back at
individuals who acted on the basis of shared values and principles.
Leadership
Executive Officers page 94
Management Group page 95
Board of Directors page 96
Corporate Information page 97
The St. Paul provides equal employment opportunity to all employees and applicants for employment, free
from unlawful discrimination based on race, color, religion, gender, age, national origin, disability, veteran
status, marital status, sexual orientation or any other status or condition protected by state or federal law.