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The Travelers Companies, Inc. (symbol: TRV) is a cornerstone of the insurance industry, committed to evolving with the dynamic needs of its customers. With over 150 years of experience, Travelers has become one of the largest property casualty insurers in the United States. As a proud component of the Dow Jones Industrial Average, the company boasts a workforce of more than 30,000 employees and collaborates with 13,000 independent agents.
Travelers offers a wide array of insurance products, catering to both commercial and personal lines. Its commercial operations provide comprehensive coverage options for businesses of all sizes, with a focus on midsize companies. On the personal side, the insurance offerings are split evenly between auto and homeowners coverage. Notably, the company extends its reach globally, deriving 6% of its premiums from international markets.
Travelers is well-known for its pioneering spirit and continuous innovation. From the creation of the first auto and space travel policies to the introduction of hybrid car discounts, the company has consistently set new standards in the industry. In 2009, Travelers established the Travelers Institute for Public Policy, further cementing its role as a leader and innovator in insurance.
Despite the uncertain global landscape, Travelers remains steadfast in its commitment to protecting clients from loss through its adaptive and proactive approach. The company's recent achievements and ongoing projects reflect this philosophy, ensuring they stay ahead of industry trends and customer needs. Whether you are looking for detailed coverage options or insights into industry developments, Travelers stands as a reliable and forward-thinking partner.
The Travelers Institute, a public policy division of The Travelers Companies (NYSE: TRV), will host the Cyber: Prepare, Prevent, Mitigate, Restore® symposium on April 17 in Portland. This sold-out event aims to enhance dialogue on cyber preparedness among businesses. According to a recent survey, only 27% of Portland leaders feel informed enough to protect against cyber threats. The symposium will feature speakers from the U.S. Small Business Administration and the Cybersecurity and Infrastructure Security Agency (CISA), addressing the importance of cybersecurity. The event runs from 11:30 a.m. to 1:30 p.m. PST at the Multnomah Athletic Club. All Travelers Institute events are free and open to the public, encouraging local businesses to enhance their cybersecurity measures.
The Travelers Companies, Inc. (NYSE: TRV) announced findings from the 2023 Travelers Risk Index on distracted driving. The survey indicates a rise in dangerous driving behaviors, with technology as a leading distraction. Notably, 70% of respondents believe distracted driving has worsened, correlating with an 18% increase in traffic fatalities in 2022 compared to pre-pandemic levels. Key distractions include mobile device usage, drowsiness, and heightened emotions. The report emphasizes the importance of avoiding distractions to enhance road safety and suggests potential solutions like financial incentives for safe driving.
The Travelers Institute, public policy division of The Travelers Companies (NYSE: TRV), is hosting its 50th Cyber: Prepare, Prevent, Mitigate, Restore symposium on March 21 at the New York Stock Exchange. This event aims to foster dialogue on cyber resilience strategies for organizations. Notably, the 2022 Travelers Risk Index revealed that 80% of leaders struggle to keep pace with evolving cyber threats. The symposium features speakers including Valerie Cofield from CISA and Tim Francis from Travelers. The event is free and open to the public, with registration available online.
The Travelers Companies, Inc. (NYSE: TRV) will review its first quarter 2023 results on April 19 at 9 a.m. ET. The results will be released earlier that morning. Investors may access the conference call via webcast at investor.travelers.com or by dialing 888-440-6281 in the U.S. (646-960-0218 outside the U.S.). A replay will be available for one year online and via telephone for 30 days. Travelers is a leading provider of property casualty insurance with over 30,000 employees and generated approximately $37 billion in revenue in 2022.
The Travelers Institute has announced its spring 2023 virtual programming schedule, featuring a series of webinars called Wednesdays with Woodward hosted by Joan Woodward, the Institute's President. The webinars will address pressing topics such as AI, cybersecurity, and workers' compensation. Key events include discussions on the impacts of emerging AI capabilities on March 1, a cyber risk assessment on March 15, and a conversation with Stanley Black & Decker's CEO on March 22. The events are free and open to the public, encouraging business leaders to gain insights from industry experts.
The Travelers Companies, Inc. (NYSE: TRV) has launched the Travelers Innovation Network for Construction, an online platform designed to assist construction customers in accessing industry insights and technology solutions for risk management.
This platform aims to enhance productivity and safety on job sites, addressing challenges such as water loss detection and site monitoring. Eligible users can also benefit from discounts on specific products. This initiative exemplifies Travelers' commitment to partnering with construction clients to foster safety and effective risk management.
Travelers Europe has appointed Peter McConnell as the new Chief Financial Officer, succeeding Mike Gent. McConnell brings over 20 years of experience in the insurance industry, including 16 years in senior finance roles at WTW. He will report to Matthew Wilson, CEO of Travelers Europe, and will also join the UK subsidiary’s Board of Directors pending regulatory approval. The company recognizes Gent's contributions over the past 25 years, highlighting its ongoing commitment to growth in the European market.
The Travelers Companies, Inc. announced its fourth quarter 2022 financial results, reporting a net income of $819 million, or $3.44 per diluted share, down 39% from the prior year. Core income also declined to $810 million, or $3.40 per diluted share, reflecting increased catastrophe losses of $459 million. Despite these challenges, the company achieved a record net earned premium of $8.829 billion, a 10% increase year-over-year. The combined ratio stood at 94.5%, worsened by higher catastrophe losses. Shareholders received $721 million in capital returns, including $501 million in share buybacks. The board declared a dividend of $0.93 per share.
The Travelers Institute will host a Cyber: Prepare, Prevent, Mitigate, Restore symposium on January 26 in Phoenix.
The event aims to educate businesses on preparing for cyber incidents, following findings from the 2022 Travelers Risk Index that highlighted cyber threats as a top concern.
Featuring experts including Michael Lettman from CISA, discussions will emphasize the importance of cyber resilience, especially as a cyber breach occurs every 20 seconds. The event, free to public, runs from 11:30 a.m. to 1:30 p.m. MST.
Registration is available on the Travelers Institute website.
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