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Monday November 25

Travelers Property Casualty Appoints Stewart R. Morrison Chief Investment Officer

Travelers Property Casualty Corp. has announced the appointment of Stewart R. Morrison as Chief Investment Officer. Mr. Morrison, who will report to Robert I. Lipp, Chairman and CEO, will manage the company's $35 billion investment portfolio and serve as a member of the senior management of the company.

"The cornerstones of our business are solid underwriting and conservative management of our investments," said Mr. Lipp. "In September, we took an important step, as a newly public company, to strengthen our investment management and oversight by creating a knowledgeable, experienced investment committee of the Board. With the addition of Stewart to our senior management team as Chief Investment Officer, we are taking another important step as an independent company. Stewart has a strong background in investment management in the financial services industry and is well suited to continuing our investment approach."

Mr. Morrison comes to Travelers from Security Benefit Group in Topeka, Kansas, where he served as Chief Investment Officer. Prior to his role there, Mr. Morrison spent more than 10 years with Keyport Life Insurance Company in Boston in a variety of strategic investment positions, including Chief Investment Officer. Before moving into the insurance field, Mr. Morrison held positions of increasing responsibility in the banking industry, beginning at Hartford National Bank.

Mr. Morrison holds both MBA and BA degrees from Cornell University.

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