Travelers 2008 Annual Report Download - page 23

brokers, including managing general agents and wholesale agents, supplement this strategy. In all of
these businesses, the competitive strategy is market leadership attained through focused industry
knowledge applied to insurance and risk needs.
FINANCIAL, PROFESSIONAL & INTERNATIONAL INSURANCE
The Financial, Professional & International Insurance segment includes surety and financial
liability coverages, which primarily use credit-based underwriting processes, as well as property and
casualty products that are primarily marketed on a domestic basis in the United Kingdom, the Republic
of Ireland and Canada, and on an international basis through Lloyd’s. The segment includes the
following groups:
•Bond & Financial Products provides a wide range of customers with bond and insurance products
and risk management services. The range of coverages includes surety and fidelity bonds for
construction and general commercial enterprises; professional liability and management liability
for public corporations, private companies and not-for-profit organizations for losses caused by
the negligence or misconduct of named directors and officers; professional liability for a variety
of professionals, such as lawyers, design professionals and real estate agents for liability from
errors and omissions committed in the course of professional conduct or practice; and a full
range of property, auto, liability, fidelity and professional/management liability insurance for
financial institutions, with a special focus on community banks.
•International includes business written through domestic operations in the United Kingdom,
Canada and the Republic of Ireland and business written as a corporate member at Lloyd’s.
International, through its operations in the United Kingdom, Canada and the Republic of
Ireland, offers specialized insurance and risk management services to several customer groups,
including those in the technology, public services, and financial and professional services industry
sectors. International, through its Lloyd’s syndicate (Syndicate 5000), for which the Company
provides 100% of the capital, underwrites through five principal business units—aviation, marine,
global property, accident & special risks, and power & utilities.
Selected Market and Product Information
The following table sets forth Financial, Professional & International Insurance net written
premiums by market and product line for the periods indicated. For a description of the markets and
product lines referred to in the table, see ‘‘—Principal Markets and Methods of Distribution’’ and
‘‘—Product Lines,’’ respectively.
% of Total
(for the year ended December 31, in millions) 2008 2007 2006 2008
By market:
Bond & Financial Products ........................... $2,228 $2,228 $2,255 64.2%
International ..................................... 1,240 1,237 1,138 35.8
Total Financial, Professional & International Insurance by
market ...................................... $3,468 $3,465 $3,393 100.0%
By product line:
Fidelity and surety ................................. $1,172 $1,152 $1,125 33.8%
General liability ................................... 921 942 1,006 26.6
International ..................................... 1,240 1,237 1,138 35.8
Other .......................................... 135 134 124 3.8
Total Financial, Professional & International Insurance by
product line .................................. $3,468 $3,465 $3,393 100.0%
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