Travelers 2002 Annual Report Download - page 9

Headquartered in Saint Paul, Minn., The St. Paul Companies,
Inc. provides commercial property-liability insurance and asset
management. Founded in 1853, The St. Paul celebrates its
150th anniversary in 2003.
Commercial Lines
Commercial Lines includes the Small Commercial, Middle
Market Commercial and Property Solutions business centers.
Small Commercial serves commercial firms that typically
have fewer than 50 employees through its proprietary St. Paul
MainstreetSM and St. Paul AdvantageSM products, with a par-
ticular focus on offices, wholesalers, retailers, artisan contrac-
tors and other service firms.
Middle Market offers comprehensive insurance coverage
for a wide variety of manufacturing, wholesale, service and
retail exposures. The business unit also offers loss-sensitive
casualty programs, including significant deductible and self-
insured retention options, for larger middle market businesses.
Property Solutions combines large accounts property
insurance business with a portion of catastrophe risk busi-
ness. This combination provides a unified approach to large
property risks.
Specialty Commercial
Specialty Commercial is composed of the following under-
writing operations: Financial and Professional Services,
Technology, Public Sector Services, Ocean Marine, Specialty
Excess and Umbrella, Surplus Lines, Oil and Gas and
Specialty Programs. It also includes Discover Re, serving the
alternative risk transfer market.
The Financial and Professional Services operation offers a
variety of products for the financial services industry, tradition-
al professional indemnity products, plus specialty coverage for
public, private and nonprofit entities.The Technology area has
developed products suited for information technology,
telecommunications, electronics and health sciences busi-
nesses. Public Sector Services markets insurance products to
cities, counties and townships, Indian nations and special gov-
ernment districts. Specialty Programs, an underwriting opera-
tion formed in 2002, focuses on large groups of policyholders
that are national in scope and have similar risk characteristics
such as franchises and associations. Oil and Gas provides
specialized products for customers involved in the exploration
and production of oil and gas.
Surety & Construction
St. Paul Surety is the No. 1 provider of surety products in
North America. The surety operation includes Afianzadora
Insurgentes, the largest surety bond underwriter in Mexico.
The Canadian operations of St. Paul Guarantee and Northern
Indemnity make The St. Paul the largest surety bond writer in
Canada. Surety underwrites surety bonds, which guarantee
that third parties will be indemnified against the nonperfor-
mance of contractual obligations. Products include contract,
commercial and special risks surety bonds for diverse busi-
ness sectors.
The St. Paul is the first and longest-tenured insurer to serv-
ice the Construction market. Policyholders include about 25
percent of the largest 400 contractors operating in the United
States. Construction’s risk control services include numerous
safety training programs that capitalize on The St. Paul’s con-
struction expertise.
International & Lloyd’s
This segment includes St. Paul International, which pro-
vides specialized products and services in the United
Kingdom, Ireland and Canada; a Global Accounts operation;
and St. Paul at Lloyd’s.
In the United Kingdom, The St. Paul provides products and
services for the technology, automotive, transportation and
public sectors, and professional indemnity for solicitors. In
Canada, clients include the technology, construction, marine,
financial and professional services and public sectors. In
Ireland, we underwrite specialized products for technology
companies, the education sector, and the automotive seg-
ment, as well as professional indemnity coverage.
Global Accounts provides property-liability insurance
products for U.S.-based companies with operations outside
the United States.
St. Paul at Lloyd’s underwrites insurance in four principal
areas: aviation, marine, global property and specialist person-
al lines.
Nuveen Investments
The St. Paul holds a 79 percent interest in Nuveen
Investments, Inc. Nuveen’s core business is asset manage-
ment with a specialty focus on high-quality investment solu-
tions that contribute to the building of well-diversified, core
investment portfolios.
Chicago-based Nuveen Investments serves financial advi-
sors and their high-net-worth clients, as well as a growing
number of institutional clients. Nuveen Investments today mar-
kets its capabilities under four distinct brands: Nuveen, a
leader in tax-free investments; NWQ, a leader in value-style
equities; Rittenhouse, a leader in growth-style equities; and
Symphony, a leading institutional manager of market-neutral
alternative investment portfolios. In total, Nuveen Investments
now manages approximately $80 billion in assets.
Nuveen Investments is listed on the New York Stock
Exchange, trading under the symbol JNC.
The St. Paul At A Glance
The St. Paul Companies 2002 Annual Report 7