St. Paul-travelers marriage gains Connecticut's Blessings.(Merger Clears Hurdle)(related article: What's to come)

National Underwriter Property & Casualty-Risk & Benefits Management, March, 2004 by Ha, Michael

AFTER TRAVELERS PROPERTY Casualty Corp. and The St. Paul Companies Inc. made guarantees that their consolidation would not hurt the town where Travelers is headquartered, Connecticut regulators signed off on a merger of the two insurers to create a new personal and commercial insurance giant.

The next step for the merging carriers is to secure approvals from their respective shareholders. Both companies will seek the blessings of their shareholders during shareholder meetings scheduled for this Friday, March 19. The two carriers cleared the merger with Connecticut regulators by guaranteeing that their level of employment, charitable donations and tax commitment in Hartford, Conn., would remain stable. "One of the criteria we have when we look at the change...

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