NEW YORK (Standard&Poor's) July 23, 2004--Standard&Poor's Ratings Services said today that it affirmed its 'A+' counterparty credit and financial strength ratings on members of the St. Paul Intercompany pool, Travelers Intercompany pool, Travelers Casualty and Surety Co. of America, Travelers Casualty and Surety Co. of Europe Ltd., and Gulf Insurance Group. At the same time, Standard&Poor's affirmed its 'BBB+' counterparty credit and senior debt ratings on St. Paul Travelers Cos. The outlook is stable. "The outlook remains stable following today's announcement by St Paul Travelers Cos. that it strengthened its net reserves by about $1.6 billion on a pretax basis in the second quarter of 2004," said Standard&Poor's credit analyst John Iten.
