Following a review under our revised insurance criteria, we are affirming our 'A' ratings on The Travelers Cos. Inc. At the same time, we are affirming our various ratings on the company's subsidiaries. The outlook remains stable. The affirmation reflects the group's very strong business risk profile and very strong financial risk position. The stable outlook is based on our view that Travelers will continue to meet our expectations for the ratings. On May 22, 2013, Standard&Poor's Ratings Services affirmed its 'A' counterparty credit rating on The Travelers Cos. Inc. At the same time, we affirmed our 'AA' counterparty credit and financial strength ratings (FSRs) on Travelers' core operating subsidiaries (collectively, Travelers), as well as the 'A-1' short-term
