Summary
This Form 8-K filing by The St. Paul Travelers Companies, Inc. (formerly The St. Paul Companies, Inc.) announces a significant corporate event: the completion of its merger with Travelers Property Casualty Corp. on April 1, 2004. For financial reporting purposes, Travelers Property Casualty Corp. is designated as the accounting acquirer. Consequently, the reported financial results for the quarter ended March 31, 2004, and all prior periods will reflect the standalone operations of Travelers Property Casualty Corp. Investors should note that this filing primarily serves to inform the market about the merger's completion and the subsequent accounting treatment. The combined operations of both entities will begin to be consolidated and reported starting in the second quarter of 2004. The press release and detailed financial supplements for the first quarter of 2004, covering both the pre-merger Travelers and St. Paul entities, are furnished as exhibits and provide additional details on their respective performance.
Key Highlights
- 1The St. Paul Companies, Inc. and Travelers Property Casualty Corp. completed their merger on April 1, 2004, forming The St. Paul Travelers Companies, Inc.
- 2Travelers Property Casualty Corp. has been designated as the accounting acquirer for financial reporting purposes.
- 3Stand-alone results of Travelers Property Casualty Corp. will be presented as the results of the combined company for the quarter ended March 31, 2004, and prior periods.
- 4Consolidated results of the combined operations will commence from the second quarter of 2004.
- 5A press release dated April 28, 2004, was issued to announce first-quarter results and the availability of financial supplements.
- 6The filing includes furnished exhibits (99.1, 99.2, 99.3) containing the press release and first-quarter financial supplements for both the combined entity (Travelers) and the former St. Paul Companies, Inc.