Finance History | 11 Wall Street — STA Stopped and a Red-Umbrella Book Printed TRV
· 2007-2
Personal memoryBy kevin · · Report an issue
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Finance History | 11 Wall Street — STA Stopped and a Red-Umbrella Book Printed TRV
kevin
People treat The Travelers Companies as a Saint Paul property-casualty house that always printed TRV after a finished New York book.
The present letters arrived as a name change on an already-combined insurer.
A St. Paul Travelers release dated 1 April 2004 records that The St. Paul Companies (NYSE: SPC) and Travelers Property Casualty (NYSE: TAP.A and TAP.B) completed their merger that day, and that the combined book would list the next morning, 2 April 2004, under STA.
Three years later a company release dated 26 February 2007 records that The St. Paul Travelers Companies changed its name to The Travelers Companies, Inc. and would begin trading under TRV immediately after the opening bell on 27 February 2007.
The same release records that the firm closed its agreement to reacquire the red-umbrella trademark from Citigroup.
A Reuters dispatch dated 26 February 2007 repeats the name change and the 27 February ticker cutover from STA to TRV.
A Philadelphia Stock Exchange member memo dated 26 February 2007 instructed options posts that, effective 27 February 2007, the issue name became The Travelers Companies, Inc., the stock symbol STA became TRV, and the option symbol followed.
The mechanism of 27 February 2007 is a listed-name and ticker reprint of an existing New York book, not a cash IPO and not the 2004 merger itself.
The pin is the Broad Street facade of the Exchange, where TRV first printed. Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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