8-KOther EventsExhibits & Filings

TRAVELERS COMPANIES, INC. 8-K Report, Corporate Update (Apr 18, 2005)

Filed April 18, 2005For Securities:TRV

Summary

This 8-K filing from The St. Paul Travelers Companies, Inc. (TRV) on April 18, 2005, primarily serves to provide investors with an unaudited pro forma condensed combined income statement for the year ended December 31, 2004. This statement gives effect to the merger between Travelers Property Casualty Corp. and a subsidiary of The St. Paul Companies, Inc., which occurred on April 1, 2004, as if it had happened on January 1, 2004. The purpose of this pro forma statement is to present a more comparable view of the combined entity's financial performance for the full year 2004, reflecting the operational integration of the two companies post-merger. Investors can use this information to better understand the scale and potential profitability of the combined St. Paul Travelers organization in the period immediately following the significant corporate transaction.

Key Highlights

  • 1The filing includes an unaudited pro forma condensed combined income statement for the year ended December 31, 2004.
  • 2The pro forma statement reflects the merger between Travelers Property Casualty Corp. and a subsidiary of The St. Paul Companies, Inc.
  • 3The merger is treated as if it occurred on January 1, 2004, for the purpose of the pro forma income statement.
  • 4This provides a combined view of St. Paul's financial results for Q1 2004 and St. Paul Travelers' results for the full year 2004, adjusted for the merger's impact.
  • 5The filing is intended to offer investors a more comprehensive understanding of the combined entity's financial performance post-merger.
  • 6The report references the merger that established The St. Paul Travelers Companies, Inc. as the parent of Travelers Property Casualty Corp.

Frequently Asked Questions

The primary purpose of this 8-K filing is to provide investors with an unaudited pro forma condensed combined income statement for the year ended December 31, 2004. This statement is designed to show the financial results of the combined company as if the merger between Travelers Property Casualty Corp. and The St. Paul Companies, Inc. had occurred at the beginning of that year.

The merger between Travelers Property Casualty Corp. and a subsidiary of The St. Paul Companies, Inc., which resulted in the formation of The St. Paul Travelers Companies, Inc., actually occurred on April 1, 2004. The pro forma statement adjusts for this event to present a full-year view.

A pro forma income statement presents hypothetical financial information that assumes a specific event, such as a merger, has occurred at an earlier date. In this case, it combines the historical results of St. Paul for the first three months of 2004 and The St. Paul Travelers Companies, Inc. for the full year 2004, but presents them as if the merger happened on January 1, 2004, allowing for a more consistent comparison of the combined entity's performance.

The unaudited pro forma condensed combined income statement is included as Exhibit 99 to this 8-K filing and is incorporated by reference.