Shareholders approve St. Paul-Travelers merger.(Deal on Schedule)(Brief Article)

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

SHAREHOLDERS OF THE ST. PAUL Companies and Travelers Property Casualty Corp. have voted to approve the merger of the two insurers. Shareholders of both carriers cast their votes on March 19. Eighty-three percent of those eligible to vote from St. Paul did so, with over 95 percent of those voting backing four specific merger-related proposals.

"We are now just forging ahead on the regulatory approvals," said Joan Palm, a St. Paul representative. At a meeting in Hartford, Conn., the same day, shareholders of Travelers Property Casualty's Class A and Class B common stock also voted to approve the agreement and plan of the merger. "Seventy-six percent of the outstanding shares were voted, and 98 percent of the votes cast voted in favor of the merger," said...

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