St. Paul Adding 600 Jobs in Conn.

July 26, 2006

St. Paul Travelers has announced plans to add about 600 jobs in Connecticut as it expands its operations.

The property-casualty insurance company already has about 6,300 Connecticut employees, most of them in downtown Hartford.

Company spokeswoman Marlene Ibsen said the new jobs will be largely “professional-level, solid, good-paying jobs.” The will include claims handlers, information technology professionals, underwriters and actuaries, she said.

About 500 positions will be added in Hartford and another 100 at the company’s claims-training and handling center in Windsor.

The Connecticut Development Authority last week approved $2 million in state sales tax relief that Travelers will need for an expansion and renovation program, which is expected to take place over the next two years.

The authority estimated the program will cost Travelers $66.6 million, though the company would only say Monday that it expects to spend “tens of millions of dollars.”

The tax relief was granted in return for the pledge of jobs, which will be created here and not moved from Travelers’ offices in other states, the company said.

St. Paul Travelers said it chose Connecticut for the new jobs because most of its core insurance operations are based here and the state has a good-quality labor pool, Ibsen said.

“We have a long history here,” Ibsen said. “We have a great relationship with the state of Connecticut. We’ve got a strong commitment to the city of Hartford, and we think it makes sense for our business.”

Travelers reported in May an 18 percent jump in first-quarter operating profits, a higher earnings forecast for 2006 and a dividend increase for shareholders.

Topics Talent Connecticut

Was this article valuable?

Here are more articles you may enjoy.