AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of the main subsidiaries of The Travelers Companies, Inc. (TRV) (headquartered in New York, NY) [NYSE: TRV], collectively known as Travelers Group (Travelers). In addition, AM Best has affirmed the FSR of A++ (Superior) and the Long-Term ICRs of “aa+” (Superior) of Travelers Casualty and Surety Company of America (TCSA) (Hartford, CT) and Travelers Insurance Company of Canada (TICC) (Toronto, Ontario, Canada).

Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of The Dominion of Canada General Insurance Company (Dominion) (Toronto, Ontario, Canada). AM Best also has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of First Floridian Auto and Home Insurance Company (First Floridian) (Tampa, FL).

Lastly, AM Best has affirmed the Long-Term ICRs and the Long-Term Issue Credit Ratings (Long-Term IR) of “a+” (Excellent) of TRV and its two wholly owned downstream holding companies, Travelers Property Casualty Corp. and Travelers Insurance Group Holdings Inc. (both headquartered in Hartford, CT). All outstanding securities issued by the two downstream holding companies are guaranteed by TRV. AM Best also has affirmed all other Long-Term IRs and Short-Term Issue Credit Ratings (Short-Term IR) guaranteed by TRV, as well as TRV’s indicative Long-Term IRs.

The outlook of these Credit Ratings (ratings) is stable. Please see link below for a detailed listing of the companies and ratings.

The ratings of Travelers reflect the group’s balance sheet strength, which AM Best assesses as strongest, as well as its very strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).

Historically, risk-adjusted capitalization has consistently been strongly supportive of the group’s ratings and exceeds the threshold for the strongest assessment level by a wide margin, as measured by Best’s Capital Adequacy Ratio (BCAR). The assessment of the group’s balance sheet strength also reflects its stable loss-reserve position, the use of a comprehensive reinsurance program and high quality reinsurance partners, the benefits from the conservative investment portfolio and benefits from the additional financial flexibility available through its ultimate parent, TRV.

The group’s very strong operating performance reflects consistently profitable results supported by typically strong underwriting results and steady investment income. The group has reported positive underwriting income in nine of the past 10 years, with 2011 being the exception due to an increased amount of catastrophes.

Based on 2020 direct premiums written, Travelers is one of the top five commercial lines insurers in the United States and one of the top 10 personal lines insurers. Overall, Travelers ranks as the sixth-largest property/casualty (P/C) writer in the United States. Travelers maintains a broad spread of risk in that it offers a wide array of P/C coverages spread geographically in all 50 states, the District of Columbia, Canada, England and Ireland.

The ratings of TCSA reflect its balance sheet strength, which AM Best assesses as strongest, as well as its very strong operating performance, favorable business profile and appropriate ERM.

The ratings of TICC reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate ERM. The ratings also reflect the implicit support it receives from its ultimate parent, TRV.

The ratings of Dominion reflect its balance sheet strength, which AM Best assesses as strongest, as well as its marginal operating performance, neutral business profile and appropriate ERM. The ratings also reflect the implicit support it receives from its ultimate parent, TRV.

The ratings of First Floridian reflect its balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and appropriate ERM. The ratings also reflect the implicit support it receives from its ultimate parent, TRV.

A complete listing of The Travelers Companies, Inc.’s FSRs, Long-Term ICRs and Long- and Short-Term IRs also is available.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Elizabeth Blamble Senior Financial Analyst +1 908 439 2200, ext. 5603 elizabeth.blamble@ambest.com Michael Lagomarsino, CFA, FRM Senior Director +1 908 439 2200, ext. 5810 michael.lagomarsino@ambest.com

Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 christopher.sharkey@ambest.com Jim Peavy Director, Communications +1 908 439 2200, ext. 5644 james.peavy@ambest.com

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