BUSINESS DIVERSIFICATION

The Power of Our
Diversified Businesses

Our results in 2025 and over time demonstrate the benefits of the diversification of our business across core commercial, specialty and personal lines coverages.

We engage broadly across nine major lines of insurance through our three business segments. Our portfolio is balanced across these lines of business and further diversified by geography and customer size and type. Thanks in no small part to our business mix, Travelers is exceptionally well positioned to navigate the loss environment — from weather volatility to the impact of social inflation on casualty lines. In fact, our consolidated loss ratio is less volatile than the loss ratio of our least volatile segment. That is the power of our diversification — and one of our defining strengths.

THE TRAVELERS COMPANIES, INC.

2025 / ANNUAL REPORT /