SECURITIES AND EXCHANGE COMMISSION
                   Washington, D.C. 20549

                   -----------------------

                          FORM 8-K

                       CURRENT REPORT


           Pursuant to Section 13 or 15(d) of the

               Securities Exchange Act of 1934

                 ---------------------------


              Date of Report (Date of earliest
             event reported): September 19, 2001



                THE ST. PAUL COMPANIES, INC.
   ------------------------------------------------------
   (Exact name of Registrant as specified in its charter)


     Minnesota            001-10898            41-0518860
------------------- --------------------  ---------------------
     (State of         (Commission File     (I.R.S. Employer
  Incorporation)           Number)         Identification No.)



385 Washington St., St. Paul, MN              55102
--------------------------------            ---------
(Address of principal                       (Zip Code)
executive offices)


                       (651) 310-7911
             ----------------------------------
               (Registrant's telephone number,
                    including area code)




                             N/A
------------------------------------------------------------
    (Former name or former address, if changed since last
                           report)




Item 5.    Other Events and Regulation FD Disclosure
           -----------------------------------------

     The following information was derived from a press
release of The St. Paul Companies, Inc. dated September 19,
2001:

     The St. Paul Companies announced today that the
terrorist attacks of Sept. 11 will likely result in
estimated net pretax losses of approximately $700 million to
the company from its U.S. primary insurance, reinsurance and
Lloyd's of London operations.  The company's estimate is
based on a total insured loss of between $30 billion and $35
billion for the industry.  However, it will take more time
before the total industry loss is clear.

     The St. Paul's net loss comprises all losses from all
lines of insurance, and takes into account the company's
various reinsurance arrangements, its catastrophe
reinsurance program, the corporate reinsurance program, and
a provision for potentially unrecoverable reinsurance.

     Certain statements made by the company herein may
constitute forward-looking statements.  Actual results may
differ materially from those projected in the forward-
looking statements.  These forward-looking statements
involve risks and uncertainties including, but not limited
to, the identification and development of losses resulting
from the terrorist attacks of September 11, the payment of
related losses by our reinsurers, potential government
intervention, and various other factors.  The company
undertakes no obligation to release publicly the results of
any future revisions it may make to forward-looking
statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.


     Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned thereunto duly
authorized.


                              THE ST. PAUL COMPANIES, INC.




                              By  /s/ Bruce A. Backberg
                                  ---------------------
                                  Bruce A. Backberg
                                  Senior Vice President


Date: September 20, 2001