Travelers 2015 Annual Report Download - page 162

Report of Independent Registered Public Accounting Firm
The Board of Directors and Stockholders
The Travelers Companies, Inc.:
We have audited the accompanying consolidated balance sheet of The Travelers Companies, Inc.
and subsidiaries (the Company) as of December 31, 2015 and 2014, and the related consolidated
statements of income, comprehensive income, changes in shareholders’ equity, and cash flows for each
of the years in the three-year period ended December 31, 2015. These consolidated financial statements
are the responsibility of the Company’s management. Our responsibility is to express an opinion on
these consolidated financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting
Oversight Board (United States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all
material respects, the financial position of The Travelers Companies, Inc. and subsidiaries as of
December 31, 2015 and 2014, and the results of their operations and their cash flows for each of the
years in the three-year period ended December 31, 2015, in conformity with U.S. generally accepted
accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting
Oversight Board (United States), The Travelers Companies, Inc. and subsidiaries’ internal control over
financial reporting as of December 31, 2015, based on criteria established in Internal Control—
Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO), and our report dated February 11, 2016 expressed an unqualified opinion on the
effectiveness of the Company’s internal control over financial reporting.
/s/ KPMG LLP
KPMG LLP
New York, New York
February 11, 2016
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