FINANCIAL SECURITY
• $128,000* median pay for full-time U.S. employees, who comprise over 90% of our U.S. workforce, putting us in the top quartile for employee pay in the S&P 500
• $18/hr minimum wage in the U.S.
• ~$600 million of funding in 2023 to provide security in retirement for our employees through an active defined benefit pension plan and 401(k) savings plan
• $2.0 million provided in 2023 to match student loan payments with 401(k) contributions for more than 1,000 employees through The Travelers Paying It Forward Savings Program
Based on the median of the annual total compensation of full-time employees in the United States as reported in our 2024 Proxy Statement.
*
HEALTH & WELLNESS
• 52,000 individuals covered by our medical plans
• ~$270 million paid in 2023 in medical-related costs on behalf of our employees, retirees and dependents
• We use a tiered cost-sharing model to subsidize health benefits: Higher-paid employees pay ~50% of their health care costs, while our lowest-paid employees pay ~20%
TENURE & TURNOVER
• 12 years average tenure
• 20+ years average tenure for our approximately 700 most senior leaders
• Approximately 7.7% voluntary turnover rate in 2023, returning to pre-pandemic levels
DIVERSITY & INCLUSION
• ~54% women and 27% people of color in our U.S. workforce
• In each of the last 10 years, in our U.S. operations, we have increased the percentage of people of color in our workforce and have increased the percentage of women and people of color in management-level positions
• 13,000+ employees – nearly 40% of our employee population – are members of one or more of our 10 Diversity Networks
• Our goal with Diversity & Inclusion is to be the employer of choice for the best talent in the industry
To My Fellow Shareholders
Our 2023 Results – Excellence in Execution
Underlying Underwriting Income
Our Investment Expertise
Our Data-Driven Underwriting Culture
and Expertise Set Us Apart
The Power of Our Diversified Businesses
Return on Equity
Consistent and Successful Long-Term Financial Strategy Delivers Shareholder Value
Total Shareholder Return
The Power of Shared Purpose
Brand Manifesto
Financial Highlights
Citizen Travelers
Remarkable Things Happen When People Care
Taking On the Crisis of Homelessness
Taking Care of Our Remarkable Team
Management
Board of
Directors
Shareholders' Information
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To My Fellow Shareholders
Our 2023 Results –
Excellence in Execution
Underlying Underwriting Income
Our Investment Expertise
Our Data-Driven Underwriting Culture and Expertise Set Us Apart
Deliberate and Disciplined Execution Over Time
The Power of Our Diversified Businesses
Tomorrow’s Success Is Built Today: Artificial Intelligence
Consistent and Successful Long-Term Financial Strategy Delivers Shareholder Value
A Balanced Approach to Rightsizing Capital
Return on Equity
Total Shareholder Return
The Power of Shared Purpose
Letter to Shareholders