Updated 8:45 p.m. ET.

The Travelers Companies, Inc. Friday announcedwith great sorrow the passing of Jay S. Fishman, its ExecutiveChairman of the Board and former Chief Executive Officer, whotransformed Travelers into one of the best-performing companies inthe financial services industry and the only property casualtyinsurer in the Dow 30.

“We are greatly saddened by the loss of our esteemed colleagueand friend. Our thoughts are with his wife Randy and the entireFishman 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 teamthat has established Travelers as a clear industry leader. Jay willbe missed by the entire Travelers family.”

Alan Schnitzer, Chief Executive Officer of Travelers, said, “Jayled Travelers with an eye towards more than just success as it istraditionally measured. In part because of that philosophy, he ledTravelers to unprecedented success by every measure. Though hewould be too humble to admit it, Jay was an icon among corporateleaders.

As his friend, I’m grateful to Jay for his mentorship andcounsel. As his successor, I’m grateful to Jay for everything hedid to set the stage for our company’s future success. I’ll miss mydear and close friend, and on behalf of all of us at Travelers, ourhearts go out to his wife of nearly 40 years and childhoodsweetheart Randy Fishman, Jay and Randy’s children and theirbeloved grandchildren.”

More about Jay Fishman

Jay Fishman served as the Executive Chairman of the Board ofTravelers from December 2015 until August 2016. He previously heldthe position of Chief Executive Officer from the April 2004 mergerof The St. Paul Companies, Inc. with Travelers Property CasualtyCorp., and he assumed the additional role of Chairman in September2005.

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

Fishman was a director of ExxonMobil Corporation from 2010-2016,and a director of Carlyle Group Management L.L.C. from2012-2015.

Fishman served as Chairman of the Board of New York City Balletand was a Board Member for the Lincoln Center for the PerformingArts. He was a trustee of the NewYork-Presbyterian Hospitaland of the University of Pennsylvania, where he earned a bachelor’sdegree in economics and a master’s degree in accounting from theWharton School.

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