The company spun off its Travelers Property and Casualty insurance underwriting business in 2002 . The spin off was prompted by the insurance unit 's drag on Citigroup stock price because Travelers earnings were more seasonal and vulnerable to large disasters and events such as the September 11 attacks . It was also difficult to sell insurance directly to its customers since most customers were accustomed to purchasing insurance through a broker
September 11 attacks
September 11 attacks
Citigroup