Minnesota regulators OK portion of St. Paul Travelers merger.Minnesota insurance regulators have approved St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery Cos.' acquisition of Travelers Property Casualty Corp.'s subsidiaries in the state as part of the larger merger of the two insurers. The portion of the merger over which the Minnesota Department of Commerce has jurisdiction is a change in control of four relatively small Travelers subsidiaries, which are domiciled in Minnesota and to be merged into St. Paul, said Bruce Gordon Bruce Gordon may refer to:
Northland north·land also North·land n. A region in the north of a country or an area. north  land Insurance Co., Northland Casualty Co., Mendota Insurance
Co. and Mendakota Insurance Co. all are units of Travelers. Kevin
Murphy, deputy commissioner of commerce, signed an order Feb. 19
approving St. Paul's takeover of the companies.
Joining Forces The St. Paul-Travelers Property Casualty merger would create a company with: * Total assets of $107 billion; * Shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. of $20 billion; * Total capital of $26 billion; and * Net written premium of $20 billion, second only to American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. Inc. Big Picture Snapshot * The combined company would become No. 1 in commercial lines in 22 states, and either No. 1 or No. 2 in 35 states Source: St. Paul Cos. and Travelers |
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