In 1864, businessman James G. Batterson met a local banker, James E. Bolter, in the post office. Bolter had heard that Batterson and several fellow townsmen were organizing a company to introduce accident insurance to the United States. Bolter asked Batterson how much he would charge to insure him for his four-block walk home. “Two cents,” Batterson said.
Today, that two-cent “premium” is a souvenir treasured by Travelers. Batterson served as president of Travelers from our founding on April 1, 1864, until his death in 1901.
After recognizing the need for a local insurance company to deal with the increasing threat of fire, Alexander Wilkin, secretary of the Minnesota Territory, along with 16 other St. Paul businessmen established the St. Paul Fire and Marine Insurance Company. In 1968, St. Paul Fire and Marine Insurance Company formed The St. Paul Companies, Inc.
In 2004, The St. Paul and Travelers merged to form one of the largest property-casualty insurers and financial services firms in the U.S. and was renamed The St. Paul Travelers Companies, Inc.
In February 2007, the company was renamed The Travelers Companies, Inc.
A few important “firsts” for Travelers: