旅行者保险美股招股说明书(2025-07-23版)

The Travelers Companies, Inc. $500,000,000 5.050% Senior Notes due 2035$750,000,000 5.700% Senior Notes due 2055 We are offering $500,000,000 aggregate principal amount of 5.050% senior notes due 2035 (the “2035 notes”) and $750,000,000 aggregate principal amount of5.700% senior notes due 2055 (the “2055 notes” and, together with the 2035 notes, the “senior notes”). Interest on the senior notes is payable semi-annually in arrears onJanuary 24 and July 24 of each year, beginning on January 24, 2026. The 2035 notes will mature on July 24, 2035 and the 2055 notes will mature on July 24, 2055. Priorto (i)April24, 2035 (the date that is three months prior to the maturity date of the 2035 notes) in the case of the 2035 notes and (ii)January 24, 2055 (the date that is sixmonths prior to the maturity date of the 2055 notes) in the case of the 2055 notes, we may redeem the applicable series of notes, in whole or in part, at any time at theapplicable “make-whole” redemption price described herein. On or after April24, 2035 (the date that is three months prior to the maturity date of the 2035 notes), wemay redeem the 2035 notes, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of any 2035 notes to be redeemed plus accruedand unpaid interest to, but excluding, the redemption date, as described herein. On or after January24,2055 (the date that is six months prior to the maturity date of the2055 notes), we may redeem the 2055 notes, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of any 2055 notes to beredeemed plus accrued and unpaid interest to, but excluding, the redemption date, as described herein. The senior notes will be unsecured senior obligations of our company and will rank equally with all of our other unsecured senior indebtedness from time to timeoutstanding. The senior notes will be issued only in registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof. Investing in the senior notes involves risks. See “A Special Note Regarding Forward-Looking Statements” beginning on pageS-4,“RiskFactors” contained in our Annual Report on Form10-Kfor the year ended December 31, 2024 and other information included or incorporatedby reference in this prospectus supplement and the accompanying prospectus for a discussion of the factors you should carefully considerbefore deciding to purchase any senior notes. Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon theaccuracy or adequacy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense. (1)Plus accrued interest, if any, from and including July 24, 2025, if settlement occurs after that date. The underwriters expect to deliver the senior notes to investors on or about July 24, 2025, in book-entry form only through the facilities of The Depository TrustCompany for the accounts of its participants, including Clearstream Banking S.A., Luxembourg and Euroclear Bank SA/NV. BofASecurities USBancorp BarclaysTruistSecuritiesSiebertWilliamsShankR. Seelaus & Co., LLC CitigroupGoldman Sachs & Co. LLCWellsFargoSecuritiesIndependence Point Securities Table of Contents We have not, and the underwriters have not, authorized anyone to provide you with any information other than that contained or incorporatedby reference in this prospectus supplement, the accompanying prospectus and any related free writing prospectus issued by us. We and theunderwriters take no responsibility for, and can provide no assurance as to the reliability of, any information that others may provide to you.We are not, and the underwriters are not, making an offer to sell these securities in any jurisdiction where the offer is not permitted. You shouldnot assume that the information contained in this prospectus supplement, the accompanying prospectus, the documents incorporated byreference or any related free writing prospectus issued by us is accurate as of any date other than their respective dates. Our business, financialcondition, results of operations or prospects may have changed since those dates. TABLE OF CONTENTS About This Prospectus SupplementWhere You Can Find More InformationSummaryA Special Note Regarding Forward-Looking StatementsUse of ProceedsCapitalizationDescription of the Senior NotesMaterial U.S. Federal Income Tax Consequences toNon-U.S.HoldersCertain ERISA ConsiderationsUnderwritingLegal MattersExperts Prospectus About This ProspectusA Special Note Regarding Forward-Looking StatementsWhere You Can Find More InformationThe Travelers Companies, Inc.The TrustsRisk FactorsUse of ProceedsDescription of Debt Securities We May OfferDescription of Preferred Stock We May OfferDescription of Depositary Shares We May OfferDescription of Our Common StockDescription of Warrants We May OfferDescription of Stock Purcha