Citi survives on the Dow through its spin-off, Travelers. Primerica also used to be a Dow component.
Travelers was founded in 1864 in Hartford. Along the way it had many industry firsts, including the first automobile policy, the first commercial airline policy, and the first policy for space travel.[6]
In the 1990s, it went through a series of mergers and acquisitions. It was bought by Primerica in 1993[7], but the resulting company retained the Travelers name. In 1995 it became The Travelers Group[6]. It bought Aetna's property and casualty business in 1996.[8]
In 1998, the Travelers Group merged with Citicorp to form Citigroup.[7] However, the synergies between the banking and insurance arms of the company did not work as well as planned, so Citigroup spun off Travelers Property and Casualty into a subsidiary company in 2002[9], although it kept the red umbrella logo. Three years later, Citigroup sold Travelers Life & Annuity to MetLife.[10] In 2003, Travelers bought renewal rights for Zenith's Commercial businesses.[11]
St. Paul Travelers logo used until February 2007In 2004, the St. Paul and Travelers Companies merged and renamed itself St. Paul Travelers, with the headquarters set in St. Paul, Minnesota. This corporate name lasted until 2007, when the company repurchased the rights to the famous red umbrella logo from Citigroup and readopted it as its main corporate symbol, while also changing the corporate name to The Travelers Companies.[12][13]
Travelers is currently 99 on the Fortune 500 list of largest U.S. companies. On June 8, 2009, Travelers will replace its former parent Citigroup on the Dow Jones Industrial Average. http://en.wikipedia.org/wiki/Travelers_Companies
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