Travelers Property Casualty Corp.'s much-anticipated initial public offering, slated to be completed by the end of March, was expected to raise up to $4 billion. That total would exceed the $3 billion raised last December by Prudential Financial, the largest U.S. insurance IPO to date.Travelers, one of the largest automobile, home and business insurers in the nation, planned to sell 210 million shares at $16 to $19 apiece, raising $3.4 billion to $4 billion, according to a March filing with the Securities and Exchange Commission.

Citigroup announced in December it would spin off the insurer, selling 20% of the company to the public and giving the rest to its shareholders.

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