SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C. 20549

                       -----------------------

                              FORM 8-K

                           CURRENT REPORT


               Pursuant to Section 13 or 15(d) of the

                   Securities Exchange Act of 1934

                     ---------------------------


                  Date of Report (Date of earliest
                   event reported): July 30, 2002



                    THE ST. PAUL COMPANIES, INC.
       ------------------------------------------------------
       (Exact name of Registrant as specified in its charter)


         Minnesota            001-10898            41-0518860
    ------------------- --------------------- --------------------
         (State of         (Commission File     (I.R.S. Employer
      Incorporation)           Number)         Identification No.)



    385 Washington St., St. Paul, MN            55102
    --------------------------------          ---------
    (Address of principal                     (Zip Code)
     executive offices)


                           (651) 310-7911
                 ----------------------------------
                   (Registrant's telephone number,
                        including area code)




                                 N/A
    ------------------------------------------------------------
      (Former name or former address, if changed since last
                               report)




Item 5.    Other Events
           ------------


        The following statement was derived from a press release of
    The St. Paul Companies, Inc. dated July 30, 2002 related to
    the impact of an oil rig surety ruling:

         The St. Paul Companies announced today that it believes
    the net third-quarter 2002 earnings impact from a July
    26, 2002, federal court ruling should not exceed $25 million, net of
    reinsurance, case reserves and taxes, and prior to any
    recoveries.  The company believes that the recoveries may be
    significant, but it cannot reasonably estimate them at this
    time.

         The company continues to review the ruling, rendered in
    the United States District Court for the Southern District
    of New York.  The ruling involved claims against a
    subsidiary of The St. Paul and another surety in connection
    with the construction of two rigs for a Brazilian oil
    company.

         Certain statements made by the company in this release
    may constitute forward-looking statements. Actual results
    may differ materially from those projected in the forward-
    looking statements. These forward-looking statements involve
    risks and uncertainties including, but not limited to, the
    following: competitive considerations, including the ability
    to implement price increases; the frequency and severity of
    catastrophic events; our achievement of planned expense
    savings; the timing and impact of our exiting of certain
    types of business; changes in the demand for, pricing of, or
    supply of reinsurance or insurance; increased competitive
    pressure; the loss of significant customers; worse than
    anticipated loss developments from business written in prior
    years; losses due to foreign currency exchange rate
    fluctuations; changes in our estimate of insurance industry
    losses resulting from the September 11, 2001, terrorist
    attack; the potential impact of the global war on terrorism
    and Federal solutions to make available insurance coverage
    for acts of terrorism; regulatory developments; general
    economic conditions, including changing interest rates,
    rates of inflation and the performance of the financial
    markets; judicial decisions and rulings; changes in domestic
    and foreign laws, regulations and taxes; effects of
    acquisitions and divestitures; and various other factors. We
    undertake no obligation to release publicly the results of
    any future revisions we may make to forward-looking
    statements to reflect events or circumstances after the date
    hereof or to reflect the occurrence of unanticipated events.





         Pursuant to the requirements of the Securities Exchange
    Act of 1934, the registrant has duly caused this report to
    be signed on its behalf by the undersigned thereunto duly
    authorized.


                              THE ST. PAUL COMPANIES, INC.




                              By:   Bruce A. Backberg
                                    -----------------
                                    Bruce A. Backberg
                                    Senior Vice President


    Date: July 30, 2002