The Travelers Companies, Inc. · NYSE:TRV
The Travelers Companies — ST Paul Companies — Merger or Acquisition (December 2003)
20 slides from The Travelers Companies's merger presentation, Dec 18, 2003
Slide 1: Slide 1
Slide 2: Geographic Penetration / Geographic Combination
Source: A.M. Best. Based on 2002 direct premiums written. The following A.M. Best lines of business are included in the definition of "Commercial Lines" as shown in the chart: Fire, Allied Lines, Ocean Marine, Inland Marine, Earthquake, Workers' Compensation, Other Liability, Products Liability, Bur
Slide 3: [[ te st. aut 2002)
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Slide 4: Combined
[combined
Slide 5: Travelers P&C (2002)
| Travelers P&C (2002)
Slide 6: Hartford
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Slide 7: St. Paul / Travelers Combined
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Slide 8: | em
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Slide 9: Travelers 55.9% market comparison
Travelers 55.9% Hartford Chubb St. Paul CNA Zurich! Farmers AIG SAFECO Cincinnati Financi Allianz! Fireman's Fund
Slide 10: The "Go-To" Company for Independent Agents
Goldman Sachs Survey, August 18, 2003. Source: The St. Paul Travelers Companies The “Go-To” Company for Independent Agents
Slide 11: The "Go-To" Company for Independent Agents
2 St. Paul Travelers Companies(1) 20.2 3 Travelers 11.5 9 St. Paul 6.3 Note: excludes Marsh, Aon, and Willis. Excludes National Accounts, Discover, Gulf, Northland, American Equity, and Associates The St. Paul Travelers Companies The “Go-To” Company for Independent Agents Travelers Top 100 Agents St
Slide 12: Compatible Cultures and Track Record of Successful Transactions
Compatible Cultures and Track Record of Successful Transactions The St. Paul Travelers Companies Highly Compatible Cultures » Both companies pursuing similar business strategies – an emphasis on independent agents and brokers » Focus on underwriting, claims and actuarial disciplines » Expense contro
Slide 13: Management Appointments and Integration Planning
» Projected to be 7-9% of controllable expenses » Restructuring charge at the time of closing – initial estimate $300 - $400 million Note: Assumes closing on June 30, 2004. Management Appointments and Integration Planning Management Announcements on November 17 Robert Lipp Chairman Jay Fishman Chief
Slide 14: Financial Strength; Compatible Cultures; Value Creation
» Financial Strength » Compatible Cultures and Track Record of Successful Transactions » Paramount Objective Driving Value Creation This filing may be deemed to be solicitation material in respect of the proposed merger of Travelers and The St. Paul. In connection with the proposed transaction, a re
Slide 15: St. Paul commercial lines mix
St.Paul Commercial Malt-Peri General Liability 1s 2002 NPW: $6,299 MM
Slide 16: Travelers commercial lines mix
The St. Paul Travelers Companies Fidelity ternational ‘Surety & Lloyd's x = Commercial Property 11% Workers! General Compensation Labity 10% 11% 2002 NPW: $18,244 MM
Slide 17: Combined commercial lines mix
Workers” Compensation som General ability * Property om Le Commercial Mult-Per 7% Commercial ‘Automobile 2002 NPW: $11,945 MM 1%
Slide 18: Slide 18
Slide 19: St. Paul / Travelers Combined
St. Paul / Travelers Combined
Slide 20: Travelers
Travelers a
ST Paul Companies — Merger or Acquisition (December 2003) on 6ix