1998Apr, 6
Travelers Group announces an agreement to undertake the $76 billion merger between Travelers and Citicorp, and the merger is completed on October 8, of that year, forming Citibank.
The Travelers Companies, Inc., commonly known as Travelers, is an American insurance company. It is the second-largest writer of U.S. commercial property casualty insurance, and the sixth-largest writer of U.S. personal insurance through independent agents. Travelers is incorporated in Minnesota, with headquarters in New York City, and its largest office in Hartford, Connecticut. It has been a component of the Dow Jones Industrial Average since June 8, 2009.The company has field offices in every U.S. state, plus operations in the United Kingdom, Ireland, Singapore, China, Canada, and Brazil. Travelers ranked No. 98 in the 2021 Fortune 500 list of the largest United States corporations with total revenue of $32 billion.
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Events on 1998
- 4May
Unabomber
A federal judge in Sacramento, California, gives "Unabomber" Theodore Kaczynski four life sentences plus 30 years after Kaczynski accepts a plea agreement sparing him from the death penalty. - 6May
Houston Astros
Kerry Wood strikes out 20 Houston Astros to tie the major league record held by Roger Clemens. He threw a one-hitter and did not walk a batter in his fifth career start. - 26May
Ellis Island
The Supreme Court of the United States rules that Ellis Island, the historic gateway for millions of immigrants, is mainly in the state of New Jersey, not New York. - 4Jun
Oklahoma City bombing
Terry Nichols is sentenced to life in prison for his role in the Oklahoma City bombing. - 5Jun
General Motors
A strike begins at the General Motors parts factory in Flint, Michigan, that quickly spreads to five other assembly plants. The strike lasts seven weeks.