On this page of StockholderLetter.com we present the latest annual shareholder letter from TRAVELERS COMPANIES, INC. — ticker symbol TRV. Reading current and past TRV letters to shareholders can bring important insights into the investment thesis.

 •  4/7/2026 Letter Continued (Full PDF)
 •  4/7/2023 TRV Stockholder Letter
 •  4/2/2024 TRV Stockholder Letter
 •  4/4/2025 TRV Stockholder Letter
 •  More "Insurance Brokers" Category Stockholder Letters
 •  TRV Benford's Law Stock Score = 98

TRV Shareholder/Stockholder Letter Transcript:

Join us as we commemorate America   s 250th
anniversary through Travelers Across America,
our coast-to-coast journey honoring and
supporting America   s traditions of perseverance,
resilience and progress. See page 27 for more.

America isn   t just a place    
it   s a blueprint for possibility.
As we commemorate America   s exceptional 250-year journey,
Travelers is proud to be part of the fabric of our nation   s history
for more than 170 years.
Through generations of American ingenuity, we   ve helped build our
great cities, protected American workers and allowed Main Street   s
businesses to flourish in communities across the country.
We believe the best days are still ahead.
That   s why we   re not just celebrating America   s
history     we   re helping to write its future.


2025 ANNUAL REPORT
Contents
1
Letter to Shareholders
15
Our Growth Strategy
Travelers    Powerful Earnings Engine
3
6
2025 Results
Our 2025 Results Speak to the Broad
Strength of the Travelers Franchise
20
Investment Portfolio
22
From Innovation 1.0 to Innovation 2.0
24
Underwriting Excellence
Our Data-Driven Underwriting Culture
and Expertise Matter More than Ever
Rightsizing Capital
A Balanced Approach to Rightsizing Capital
Our Investment Portfolio
Continues to Deliver
7
Preparing for Tomorrow
Total Shareholder Return
Meaningful Total Shareholder Return
25
Built to Endure
Investing in What Lies Ahead
9
Travelers Institute
Risk. Regulation. Resilience. Responsibility.   
27
Travelers Across America
Strengthening Resilience from Coast to Coast
10
Reserve Strategy
A Deliberate and Data-Based Approach to
Reserving and a Healthy Appreciation of Risk
11
Business Diversification
29
Governance
32
Form 10-K
The Power of Our Diversified Businesses
261
12
Shareholders    Information
Our Unrivaled Claim Capability
When Disaster Strikes, Excellence
in Claim Sets Us Apart
13
Delivering Shareholder Value
Successful Execution of Effective Long-Term
Financial Strategy Delivers Shareholder Value
2025 ANNUAL REPORT

4/7/2026 Letter Continued (Full PDF)

 

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