Travelers Publishes Its 2023 Sustainability Report

HARTFORD, Conn.--(BUSINESS WIRE)--The Travelers Companies, Inc. (NYSE: TRV) today announced its 2023 Sustainability Report, outlining its comprehensive approach to creating shared and sustained value.

“At the intersection of creating shareholder value and taking care of the people we’re privileged to serve, sustainability is integrated into every facet of our company,” said Yafit Cohn, Chief Sustainability Officer at Travelers. “Through our principled and holistic view of sustainability, we’re managing the risks and taking advantage of the opportunities presented by a number of economic, operational, environmental, social and governance factors relevant to our business.”

The report provides an in-depth review of 16 topics the company has identified as its key drivers of sustained value: Business Strategy & Competitive Advantages, Capital & Risk Management, Climate Strategy, Community, Customer Experience, Data Privacy & Cybersecurity, Disaster Preparedness & Response, Diversity & Inclusion, Eco-Efficient Operations, Ethics & Responsible Business Practices, Governance Practices, Human Capital Management, Innovation, Investment Management, Public Policy and Safety & Health.

Highlights from this year’s report include:

• The company has seen a 27% compound annual growth rate in its Global Renewable Energy Practice since 2018, with revenue increasing more than 230% over that same period.
• Over the past decade, Travelers and the Travelers Foundation have provided more than $230 million in gifts to local communities, and in 2023, employee volunteer hours increased by 30,000 from the prior year, reaching more than 103,000 hours.
• Marsh McLennan, the largest insurance broker in the world, tracks its broker experience with insurance carriers, and for the second consecutive year, Travelers received the highest Net Promoter Score in Marsh McLennan’s corporate segment for overall experience.
• The company formalized two new Diversity Networks, bringing its total to 10. Approximately 40% of the company’s workforce belongs to one or more Diversity Networks, which are voluntary, employee-led groups dedicated to fostering a diverse and inclusive work environment.
• The Travelers Institute, the company’s public policy division, produced its 100th episode in its Wednesdays with Woodward series, which convenes thought leaders from across industry and government to weigh in on relevant issues.
• Travelers acquired Corvus Insurance, an industry-leading cyber insurance managing general underwriter powered by proprietary technology.

The company’s sustainability reporting is guided by multiple sustainability disclosure frameworks, as well as engagements with key stakeholders from both inside and outside the company. This year marks the fifth year that Travelers has published standalone, comprehensive reports consistent with the Sustainability Accounting Standards Board (SASB) standards for the insurance industry and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), making the company a leader in the domestic property casualty insurance industry.

To learn more about Travelers’ sustainability efforts, visit sustainability.travelers.com.

About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $41 billion in 2023. For more information, visit Travelers.com.