8-K

                                  UNITED STATES
                       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): March 30, 2005

                     The St. Paul Travelers Companies, Inc.
             (Exact name of registrant as specified in its charter)


           Minnesota                  001-10898                41-0518860
(State or other jurisdiction   (Commission File Number)       (IRS Employer
       of incorporation)                                 Identification Number)

           385 Washington Street                                  55102
           Saint Paul, Minnesota
  (Address of principal executive offices)                     (Zip Code)

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

                                 Not Applicable
          (Former name or former address, if changed since last report)

     Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

     |_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

     |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)

     |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

     |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))



Item 2.02.   Results of Operations and Financial Condition.
Item 2.05.   Costs Associated with Exit or Disposal Activities.

On March 30, 2005, The St. Paul Travelers Companies, Inc. (the "Company") issued
a press release announcing the expected financial statement impact of the
Company's planned disposition of its ownership in Nuveen Investments, Inc. The
press release is furnished as Exhibit 99 to this Report and is hereby
incorporated by reference in these Items 2.02 and 2.05.


Item 9.01.   Financial Statements and Exhibits.

      (c)    Exhibits.

Exhibit No.  Description

99        Press release issued by The St. Paul Travelers Companies, Inc., dated
          March 30, 2005.




                                   SIGNATURES

         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 hereunto duly authorized.

Date:    March 30, 2005          THE ST. PAUL TRAVELERS COMPANIES, INC.

                                 By:     /s/ Bruce A. Backberg
                                         --------------------------------
                                         Name:  Bruce A. Backberg
                                         Title: Senior Vice President




                                  EXHIBIT INDEX

Exhibit No.   Description

99            Press release issued by The St. Paul Travelers Companies, Inc.,
              dated March 30, 2005.

EX-99

                                                                    EXHIBIT 99

[ST. PAUL TRAVELERS LOGO]


News Release

              St. Paul Travelers Issues Statement Regarding Planned
                    Disposition of Nuveen Investments, Inc.

SAINT PAUL, MINN - March 30, 2005 - The St. Paul Travelers Companies, Inc. (St.
Paul Travelers, NYSE: STA), announced today that its planned disposition of its
ownership interest in Nuveen Investments, Inc. ("Nuveen") will result in St.
Paul Travelers reporting its asset management segment as a discontinued
operation in the company's financial statements during the first quarter of
2005. As a result, for all periods presented, earnings from Nuveen will no
longer be included as a component of St. Paul Travelers' income from continuing
operations but will be included in income from discontinued operations in the
company's income statement.

In addition, St. Paul Travelers will recognize a tax charge of approximately
$690 million as part of income from discontinued operations in the first quarter
2005, reflecting the difference between the tax basis and the GAAP carrying
value of its investment in Nuveen. Based on recent prices for Nuveen's stock,
the company expects to record gains in income from discontinued operations in
subsequent quarters upon the completion of the secondary offering and the
settlement of the forward sales contracts, which were previously announced in
St. Paul Travelers' March 25, 2005 press release. These gains would partially
offset the $690 million first quarter 2005 tax charge in subsequent periods.
Also, until they are settled, the forward sales contracts will be marked to
market and any resulting gains or losses will be reflected as part of income
from discontinued operations. The actual tax payment arising from the
transactions will be largely offset by the utilization of the company's net
operating loss carryforward.

The company expects that the disposition of its investment in Nuveen will
appreciably increase its financial flexibility and liquidity, have an immaterial
impact on its income from continuing operations and result in a modest decline
in




shareholders' equity. Additionally, goodwill and other intangibles will be
substantially reduced and, as a result, tangible equity will increase
significantly.

St. Paul Travelers is a leading provider of property casualty insurance. For
more information, visit www.stpaultravelers.com.

- ----------

Forward-Looking Statements

All statements in this press release other than statements of historical facts
may be "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Actual results of matters addressed in these
forward-looking statements involve risks and uncertainties and may differ
substantially from those expressed or implied. For a discussion of factors that
could cause actual results to differ, please see the comments under the heading
'Forward-Looking Statements' in the Company's most recent annual report on Form
10-K filed with the Securities and Exchange Commission.

Contacts
Media:
Shane Boyd, 651.310.3846
Joan Palm, 651.310.2685
Marlene Ibsen, 860.277.9039

Institutional Investors:
Maria Olivo, 860.277.8330
David Punda, 212.588.8417

Individual Investors:
Marc Parr, 860.277.0779