Personal Injury Resources

Asbestos awards have had no impact on debt ratings of The St. Paul Travelers Companies.

Fitch Ratings has affirmed the 'A-' long-term issuer and senior debt ratings of The St. Paul Travelers Companies, Inc. (STA), Travelers Property Casualty Corp. and Travelers Insurance Group Holdings. The 'AA-' insurer financial strength (IFS) ratings of the members of the Travelers Property Casualty Group (TPC) and St. Paul Fire and Marine Inter-company pool (SPC), which are rated on a group basis, have also been affirmed by Fitch. The Outlook for all ratings is Stable.

These actions follow today's announcement by STA that its fourth quarter 2004 earnings will include a $922 million pre-tax asbestos-related reserve charge and that the company is considering strategic alternatives to divest its 79% interest in Nuveen Investments (JNC).

The charge follows completion of the company's annual asbestos study and predominantly reflects increased loss cost projections due to elevated trial activity that has resulted in higher litigation costs in recent periods.