Former CEO of The Travelers Companies passes away

Jay Fishman, the former chief executive officer and executive chairman of the board at The Travelers Companies, has passed away aged 63.

Fishman had most recently served as executive chairman of the board of Travelers from December 2015 until August 2016.

He had held the position of CEO at the company from the 2004 merger with The St Paul Companies with Travelers Property Casualty. He assumed the additional role of chairman in 2005.

John Dasburg succeeds Fishman as non-executive chairman of the board.

Dasburg said: “We are greatly saddened by the loss of our esteemed colleague and friend. Our thoughts are with his wife Randy and the entire Fishman family during this difficult time.

“Jay was an inspirational leader, and he built a management team that has established Travelers as a clear industry leader. Jay will be missed by the entire Travelers family.”

Alan Schnitzer, chief executive officer of Travelers, said: “Jay led Travelers with an eye towards more than just success as it is traditionally measured. In part because of that philosophy, he led Travelers to unprecedented success by every measure.

“Though he would be too humble to admit it, Jay was an icon among corporate leaders. As his friend, I’m grateful to Jay for his mentorship and counsel. As his successor, I’m grateful to Jay for everything he did to set the stage for our company’s future success.

“I’ll miss my dear and close friend, and on behalf of all of us at Travelers, our hearts go out to his wife of nearly 40 years and childhood sweetheart Randy Fishman, Jay and Randy’s children and their beloved grandchildren.”