Summary
Travelers Companies, Inc. (TRV) filed an 8-K on June 20, 2017, to disclose a reclassification of its historical segment information. This change, effective April 1, 2017, aligns the presentation of segment data with the company's updated management structure and business reporting. The company is now reporting under three distinct business segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance. This revised segmentation also incorporates the disaggregation of international businesses by product type within these three core segments, a change from previous reporting structures. Importantly, this reclassification impacts the presentation of historical segment data but has no effect on the previously reported consolidated results of operations, financial condition, or cash flows. Investors should note that all prior periods presented in the Financial Supplement and Quarterly Report on Form 10-Q have been restated to conform to this new segmentation. The company is providing updated exhibits, including revised pages from its Financial Supplement and Quarterly Report, to reflect these changes.
Key Highlights
- 1Travelers Companies, Inc. is reclassifying historical segment information effective April 1, 2017.
- 2The company is now organized into three primary business segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
- 3International businesses are now disaggregated by product type and reported within the three main segments, a change from previous reporting.
- 4This reclassification affects segment presentation but does not alter previously reported consolidated financial results, financial condition, or cash flows.
- 5All prior periods presented in the Financial Supplement and Quarterly Report on Form 10-Q have been restated to align with the new segment structure.
- 6The company has filed revised exhibits (99.1, 99.2, and 101.1) to provide updated segment information.