Top US Insurance Company Travelers - A Review

The United States is one of the most diverse countries in the world. This diversity creates opportunities for businesses of all sizes. One of these businesses is the insurance industry. Currently, there are more than 4,500 insurance companies operating in the United States. The top insurance companies in the country have annual revenues of billions of dollars and employ thousands of people. The largest insurer in the United States is State Farm, which employs over 70,000 people. Other top insurers include Allstate, American Family, Progressive, GEICO, Liberty Mutual, AIG, Nationwide, USAA, Liberty Mutual, MetLife, Travelers, and Farmers. These companies offer a wide range of insurance products, including auto and home insurance, health insurance, life insurance, and disability insurance.

Travelers is a U.S. based insurance company that was founded in 1853. The company offers a wide range of insurance products and services to customers throughout the United States and around the world. They serve both commercial and personal customers and offer insurance coverage for all types of risks. In addition, they provide property casualty insurance for customers of all sizes.

Travelers was founded in 1864 by James Batterson, a stonecutter. In the beginning, the company sold fire insurance to stonecutters and builders who used the stone to build the canals. Over the years, the company has grown to become one of the largest property and casualty insurers in the world with revenue of $20 billion in 2016. Travelers also sells insurance products in the United Kingdom. The company is known for their excellent reputation in the industry for their prompt and fair claims handling process. They offer a range of insurance products for their customers such as auto and home insurance policies, travel insurance, personal liability protection, and commercial general liability insurance. Today Travelers operates in the United States, Canada, the United Kingdom, and Ireland.

Travelers is traded on the NYSE under the symbol TRV. Travelers' main subsidiary is The Travelers Indemnity Company, which is the largest property and casualty insurer in the United States.

Travelers' primary business is providing property and casualty coverage to individuals and companies around the world. They also provide professional liability coverage to lawyers and law firms across the United States. In addition, they also provide coverage for damage to ships and cargo at sea as well as coverage for accidents involving aircraft that are flying over open waters.

Travelers Insurance Corporation ("Travelers") is a subsidiary of Travelers Companies, Inc. that provides insurance for personal and commercial businesses through more than 30,000 independent agencies in the U.S. and Canada. In addition to selling and servicing the policies it underwrites, Travelers also provides risk management services to its customers to help them better manage their risk exposure.

In 2022, Travelers received a 9.0 out of 10.0 rating from A.M. Best for financial strength, or its ability to meet its ongoing obligations to customers. This is the highest-rated company in their industry sector and a distinction that fewer than 5% of all rated insurance companies have received.

What is the history of Travelers?

In June 2012, Travelers Insurance was rated 9.0 out of 10.0 by A.M. Best for its long-term issuer credit rating and financial strength ratings. This made it the largest property and casualty insurance company in the U.S. with a A+ financial strength rating from A.M. Best. It also makes it the only insurance company in the U.S. to receive the highest AAA rating from the three main rating agencies—A.M. Best, Fitch Ratings, and Moody’s Investors Service.

Who is the target demographic of Travelers?

Travelers primarily serves commercial insurance customers in the form of business insurance and employee benefit plans, however, they also serve individuals and families who own homes, cars, boats and other personal property.

How satisfied are their customers with Travelers?

According to J.D. Power’s 2016 U.S. Property & Casualty Insurance Study, Travelers ranked highest among large personal lines carriers for overall customer satisfaction among new customers.

In order to evaluate how satisfied consumers were with their insurer, J.D. Power surveyed nearly 7,500 people who purchased a new property insurance policy during the previous year between July and December 2015. The study ranks customer satisfaction based on the customer’s purchase experience, policy offerings, price/value relationship and overall claims handling process. The study found that Travelers received the highest ratings for Overall Satisfaction among large personal lines carriers, ranking second among all companies included in the study.

“In evaluating our new car insurance buying experience this year, we found that many factors contribute to a company’s overall satisfaction score. For example, the best companies not only provide competitive rates, but also make it easy for customers to shop for auto insurance online and offer numerous discounts and rewards programs to help lower the cost of policies,” said Mike Dolan, executive director at J.D. Power.

Where is Travelers located?

Headquartered in Hartford, Connecticut, Travelers has more than 35,000 employees worldwide with operations in all 50 states, the District of Columbia and the Canadian province of Ontario.

How has Travelers fared in recent years?

In the past 10 years, Travelers’ shares have returned an annualized average of 9.3% versus the S&P 500 Index’s 5.8% over the same period.1 The company has a strong track record of consistently delivering strong earnings and improving its financial strength ratings.2 In 2015, Travelers achieved a record high combined ratio of 92.0%.3 This was despite the volatility of the capital markets that we saw in the fourth quarter of 2015 as interest rates declined following the Federal Reserve’s decision to raise rates for the first time since 2006.4 Combined ratio is a key metric used to assess an insurance company’s ability to meet its liabilities in the event of a catastrophic event such as a hurricane or an earthquake.5 The lower the ratio, the better the company’s financial performance.6 Travelers’ ongoing commitment to profitability has enabled it to increase its dividend for 45 consecutive years.7 In addition, in March 2016, the company announced that it had repurchased and retired $12 billion of its common stock as part of a $20 billion share repurchase program authorized in October 2014.8 This translates to more than five times the amount of stock that was repurchased under the prior program.