Updated 8:45 p.m. ET.

The Travelers Companies, Inc. Friday announced with great sorrow the passing of Jay S. Fishman, its Executive Chairman of the Board and former Chief Executive Officer, who transformed Travelers into one of the best-performing companies in the financial services industry and the only property casualty insurer in the Dow 30.

“We are greatly saddened by the loss of our esteemed colleague and friend. Our thoughts are with his wife Randy and the entire Fishman family during this difficult time,” said John H. Dasburg, who succeeds Mr. Fishman as non-executive Chairman of the Board. “Jay was an inspirational leader, and he built a management team that has established Travelers as a clear industry leader. Jay will be missed by the entire Travelers family.”

Alan Schnitzer, Chief Executive Officer of Travelers, said, “Jay led Travelers with an eye towards more than just success as it is traditionally measured. In part because of that philosophy, he led Travelers to unprecedented success by every measure. Though he would be too humble to admit it, Jay was an icon among corporate leaders.

As his friend, I’m grateful to Jay for his mentorship and counsel. As his successor, I’m grateful to Jay for everything he did to set the stage for our company’s future success. I’ll miss my dear and close friend, and on behalf of all of us at Travelers, our hearts go out to his wife of nearly 40 years and childhood sweetheart Randy Fishman, Jay and Randy’s children and their beloved grandchildren.”

More about Jay Fishman

Jay Fishman served as the Executive Chairman of the Board of Travelers from December 2015 until August 2016. He previously held the position of Chief Executive Officer from the April 2004 merger of The St. Paul Companies, Inc. with Travelers Property Casualty Corp., and he assumed the additional role of Chairman in September 2005.

From October 2001 until April 2004, Fishman was Chairman, Chief Executive Officer and President of The St. Paul Companies. He held several key executive posts at Citigroup from 1998 to October 2001, including Chairman, Chief Executive Officer and President of its Travelers insurance business. Starting in 1989, he worked as an executive at Primerica Corporation, which became part of Citigroup in 1998.

Fishman was a director of ExxonMobil Corporation from 2010-2016, and a director of Carlyle Group Management L.L.C. from 2012-2015.

Fishman served as Chairman of the Board of New York City Ballet and was a Board Member for the Lincoln Center for the Performing Arts. He was a trustee of the NewYork-Presbyterian Hospital and of the University of Pennsylvania, where he earned a bachelor’s degree in economics and a master’s degree in accounting from the Wharton School.

(Source: YouTube)

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Travelers announces death of Jay Fishman, chair of board and former CEO

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