During an earnings conference call Tuesday, the leader of Travelers insurance alerted listeners to the possibility that frivolous lawsuits by plaintiffs lawyers could slow down the economic recovery from COVID-19 shutdowns. Alan Schnitzer, whose company reported net income of $600 …
The Travelers Companies boosted its net income for the quarter ended March 31, 2018, by 10 percent to $669 million compared to $617 million in the prior year quarter despite unusually high catastrophe losses in March. Catastrophe losses in the …
Property/casualty insurance giant Travelers Companies Inc. reported net income of $551 million for the quarter ended December 31, 2017, a 42 percent drop compared to $943 million in the prior year quarter. The drop was attributable to claims from California’s …
The Travelers Companies announced that Brian MacLean, president and chief operating officer, will retire after 30 years with the company, effective March 31, 2018. As a result of MacLean’s retirement, Travelers said it is realigning the reporting structure of its …
The Travelers Cos. has completed its previously announced acquisition of Simply Business, a provider of small business insurance cover in the United Kingdom, which offers products online on behalf of a broad panel of carriers. London-based Simply Business has more …
The Travelers Companies’ CEO Alan Schnitzer has added the title of “chairman” to his nameplate, ending a management structure put in place after the company’s former leader, Jay Fishman, died of Lou Gherig’s disease in August 2016. Travelers said its …
Small business insurance leader Travelers Companies is well-positioned to continue to compete in the small commercial insurance space that is attracting new entries including technology-driven start-ups, according to CEO Alan Schnitzer. “We think we are where we need to be …
The Travelers Cos. Inc. announced it has agreed to acquire Simply Business from Aquiline Capital Partners LLC for approximately $490 million, which includes the repayment of debt and other obligations at closing. Operating since 2005, Simply Business is a leading …
Travelers Cos., the sole property/casualty insurer in the Dow Jones Industrial Average, posted its fourth-straight profit decline as weather-related costs climbed and investment income slipped. The stock had the biggest intraday fall since June. Third-quarter net income dropped 23 percent …
Alan Schnitzer, the new chief executive officer of insurer Travelers Cos., called on U.S. lawmakers to reduce corporate taxes or risk harming business in country. “We continue to see the U.S. corporate income tax rate — the highest of any …
