Having started my career with the St. Paul, this is sad news. In today\’s environment, certainly not unexpected, but sad nonetheless to see the name passing into history.
Surpirse surprise … when the so-called \”merger\” was first announced, I knew that St. Paul was about to be swallowed up. They probably just didn\’t know it then.
However, if you were a top St. Paul executive, and were informed that the St. Paul would be gone, but that you would be getting a lot of moolah, would you complain? The only ones who gain from this are the top execs, and those who lose out are agents, insureds, and the general insurance public. This is apparently one that Spitzer never saw coming. If us lowly brokers could see it, why couldn\’t Eliot \”the Pincer?\”
Anyone who followed this transaction understands Travelers bought St.Paul under a merger agreement of \”equals\”. Now Matty, are you of the opinion a company cannot change names?
It may not have been so much a \”merger of equals\” as it was a bail out? Take a closer look at the cash Travelers put into St. Paul\’s claim reserves just to pull them back to even.
From a marketing stand point, St. Paul Travelers is too wordy, to confusing and a mouth full for the 6 second consumer that can identify with Nike, Pepsi & Geico. The Travelers name is a marketing direction; build something recognizable that that the consumer can see remember before alzheimers sets in.
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Having started my career with the St. Paul, this is sad news. In today\’s environment, certainly not unexpected, but sad nonetheless to see the name passing into history.
**** the St.Paul
Surpirse surprise … when the so-called \”merger\” was first announced, I knew that St. Paul was about to be swallowed up. They probably just didn\’t know it then.
However, if you were a top St. Paul executive, and were informed that the St. Paul would be gone, but that you would be getting a lot of moolah, would you complain? The only ones who gain from this are the top execs, and those who lose out are agents, insureds, and the general insurance public. This is apparently one that Spitzer never saw coming. If us lowly brokers could see it, why couldn\’t Eliot \”the Pincer?\”
Sorry, St. Paul. That\’s kinda how it felt to the Travelers people when we lost the big red umbrella to Citigroup!!!
Matty:
Your comments make no sense.
Anyone who followed this transaction understands Travelers bought St.Paul under a merger agreement of \”equals\”. Now Matty, are you of the opinion a company cannot change names?
Sad to see the St. Paul name go. I\’ll always fondly remember the Fire\’NMarine. StP employees, keep your resumes current!
It may not have been so much a \”merger of equals\” as it was a bail out? Take a closer look at the cash Travelers put into St. Paul\’s claim reserves just to pull them back to even.
From a marketing stand point, St. Paul Travelers is too wordy, to confusing and a mouth full for the 6 second consumer that can identify with Nike, Pepsi & Geico. The Travelers name is a marketing direction; build something recognizable that that the consumer can see remember before alzheimers sets in.
If they want to show solid future direction, why aren\’t they being consistent with the dropping of St. Paul? Sounds very confusing indeed.
Just another plaque for the graveyard.