However, the synergies between the banking and insurance arms of the company did not work as well as planned, so Citigroup spun off Travelers Property and Casualty into a subsidiary company in 2002, although it kept the red umbrella logo.
Synergieffekten mellem forsikrings- og bankdelen fungerede imidlertid ikke efter hensigten så Citigroup fraspaltede i 2002 Travelers Property and Casualty til et datterselskab, tiltrods for at det beholdte det røde paraplylogo.