EXHIBIT 23.2


                          Independent Auditors' Consent

The Board of Directors
Travelers Property Casualty Corp.:

     We consent to the use of our reports dated January 23, 2003, with respect
to the consolidated balance sheets of Travelers Property Casualty Corp. and
subsidiaries as of December 31, 2002 and 2001, and the related consolidated
statements of income (loss), changes in shareholders' equity and cash flows for
each of the years in the three-year period ended December 31, 2002, and all
related financial statement schedules, which appear in the December 31, 2002
Annual Report on Form 10-K, incorporated herein by reference, and to the
reference to our firm under the heading "Experts" in the registration statement.

     Our reports refer to changes in the methods of accounting for goodwill and
other intangible assets in 2002 and accounting for derivative instruments and
hedging activities and for securitized financial assets in 2001.


/s/ KPMG LLP

Hartford, Connecticut
December 9, 2003