not issue its first regular insurance policy until April 5, 1864, but informally entered into its first insurance agreement a month earlier. On March 1, 1864, local banker James Bolter jokingly inquired of Batterson how much it would cost to insure him up to $5,000 for accidental death for the journey from the post office to his home. Batterson replied, "Two cents," which Bolter promptly tendered; those coins have been kept by Travelers ever since. The original company logo was a knight's suit of armor. The red umbrella first appeared in Travelers advertising as early as 1870, but at that time was not yet the official logo. The company changed its official logo from a suit of armor to the Travelers Tower in 1920, and then replaced that with the red umbrella in 1959. During the 20th century, Travelers was responsible for many insurance industry firsts, including the first automobile policy (1897), the first air travel policy (1919), and the first space travel policy (late 1960s, for astronauts in the Apollo program). In 1954, the company established the world's first privately owned weather research facility, the Travelers Weather Research Center, the first organization to make weather predictions using probabilities ("20% chance of rain"). By the early 1990s, Travelers was predominantly a general property and casualty insurer that also happened to do some travel insurance on the side, and in February 1994, Travelers quietly exited its original travel insurance business by selling the unit to a retiring Travelers executive. The resulting company is now known as Travel Insured International, a Crum and Forster Company. In the 1990s, Travelers went through a series of mergers and acquisitions. It was bought by Primerica in December 1993, but the resulting company retained the Travelers name. In 1995 it became The Travelers Group. It bought Aetna's property and casualty business in 1996. In April 1998, the Travelers Group merged with Citicorp to form Citigroup. 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. Three years later, Citigroup sold Travelers Life & Annuity to MetLife. In 2003, Travelers bought renewal rights for Royal & SunAlliance Personal Insurance and Commercial businesses. In 2004, the St. Paul and Travelers Companies merged and renamed itself St. Paul Travelers,