8-KOther EventsExhibits & Filings

TRAVELERS COMPANIES, INC. 8-K Report, Corporate Update (Sep 29, 2006)

Filed September 29, 2006For Securities:TRV

Summary

The St. Paul Travelers Companies, Inc. (TRV) filed a Form 8-K on September 29, 2006, to announce a realignment of its business segments, effective August 25, 2006. This filing primarily serves to update historical financial information presented in previous SEC filings to reflect the new reporting structure. The company has consolidated its former Commercial and Specialty segments into two new segments: Business Insurance and Financial, Professional & International Insurance. The Personal segment has been renamed Personal Insurance. This realignment is intended to better align reporting with how the company's businesses are currently managed, based on customer type, marketing strategies, and underwriting approaches. Importantly, the company states that these changes are purely presentational and do not affect previously reported financial results, including operations, financial condition, or cash flows. Investors should view this filing as a clarification of how past and future segment data will be organized, rather than a reflection of new performance metrics or changes in underlying business performance.

Key Highlights

  • 1St. Paul Travelers Companies, Inc. (TRV) has realigned its business segments to better reflect current management and operational structures.
  • 2The former Commercial and Specialty segments have been combined into two new segments: Business Insurance and Financial, Professional & International Insurance.
  • 3The Personal segment has been renamed Personal Insurance.
  • 4The segment realignment was announced on August 25, 2006.
  • 5This filing updates historical disclosures in the Annual Report (10-K for 2005) and Quarterly Report (10-Q for June 30, 2006) to reflect the new structure.
  • 6The company explicitly states that these segment reporting changes have no impact on previously reported financial results, operations, financial condition, or cash flows.
  • 7The purpose of the 8-K is to provide updated segment-specific disclosures consistent with the new reporting structure.

Frequently Asked Questions

The main purpose of this 8-K filing is to inform investors and stakeholders about the realignment of The St. Paul Travelers Companies, Inc.'s business segments and to update historical financial information in previously filed reports (2005 10-K and June 30, 2006 10-Q) to reflect this new structure.

No, the company explicitly states that these changes are solely for the presentation of segment information and do not affect any previously reported financial results, including the company's operations, financial condition, or cash flows. It is a change in how the business is reported, not a change in the business itself or its past performance.

The company has created two new segments: 'Business Insurance' (formed from the former Commercial and Specialty segments) and 'Financial, Professional & International Insurance' (also formed from the former Commercial and Specialty segments). The 'Personal' segment has been renamed 'Personal Insurance'.

The updated segment information, reflecting the realigned structure, is incorporated by reference into this 8-K filing via Exhibits 99.1 (updating the 2005 10-K) and 99.2 (updating the June 30, 2006 10-Q). Investors should read this 8-K in conjunction with those reports.