St. Paul Travelers Denies Zurich Merger Talks…Again

September 21, 2006

The St. Paul Travelers Companies, Inc. reaffirmed today that media reports of it being in discussions regarding the possibility of a merger with Zurich Financial Services Group are not true.

While the company also reaffirmed that its policy is to avoid any comment on, or response to, market rumors or speculation, it said that the recurring nature of these specific media reports, both nationally and internationally, has prompted the company to issue this denial again.

The latest denial came after the Swiss newspaper Cash and various media wires reported that St. Paul Travelers Companies may announce a merger with Switzerland’s largest insurer in November.

Earlier this year, in March, the Minnesota-based insurer issued an almost identical denial after The Wall Street Journal and other media outlets claimed the company was in merger talks with Zurich at that time.

Source: St. Paul Travelers

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