Travelers-St. Paul Merger Approved

With the condition that the combined firm keeps certain employment, tax and charitable commitments to her state, Connecticut Insurance Commissioner Susan Cogswell has approved the acquisition of Travelers Property Casualty Corp. in Hartford by St. Paul Companies. Inc. of Minnesota. Cogswell took the companies up on their promise to keep the combined St. Paul Travelers’ general commercial lines, personal lines, surety and construction operations in Hartford and to maintain employment around the current 5,900 mark after the anticipated 24 month transition period. Seventy-five percent of these employees currently work in the segments that will remain in Hartford. While some cuts will be made, these will be made up with other jobs transferred from Maryland, company officials vowed.