EXHIBIT 23.03

                           Consent of Independent Auditors
                           -------------------------------



          To the Annuity Board of The Travelers Inc. 401(k)
                            Savings Plan:


          We  consent to  incorporation by  reference  in the  Registration
          Statements (Nos. 33-32130, 33-43997 and 33-59524) on Form  S-8 of
          The Travelers Inc.  401(k) Savings Plan of our  report dated June
          16, 1994  relating  to  the  combining  statements  of  financial
          position of The Travelers Inc. 401(k) Savings Plan as of December
          31,  1993  and  1992  and  the  related combining  statements  of
          operations and  changes in plan  equity for the  years then ended
          which report is being filed with Form 10-K/A-1 as an amendment to
          the 1993 Annual Report on Form 10-K of The Travelers Inc.



                                      /s/ KPMG Peat Marwick
                                        KPMG PEAT MARWICK



          Baltimore, Maryland
          June 24, 1994


                     CONSENT OF INDEPENDENT ACCOUNTANTS
                     ----------------------------------




We consent to the incorporation by reference in the registration statement
of The Travelers Inc. on Form S-8 (File No. 33-52027) of our report, which
includes an explanatory paragraph concerning the fact that in 1993 the Plan
changed its method of accounting for amounts allocated to participants who
have elected to withdraw from the Plan, but have not yet been paid, and an
explanatory paragraph concerning the fact that net assets available for
plan benefits include securities whose values have been estimated by the
trustee of ESOP (Fund 9) and that those values may differ significantly
from the values that would have been used had a ready market for the
securities existed, dated March 18, 1994 on our audits of the statements of
net assets available for plan benefits as of December 31, 1993 and 1992,
and the related statements of changes in net assets available for plan
benefits for each of the three years in the period ended December 31, 1993
of The Travelers Savings, Investment and Stock Ownership Plan, which report
is being filed with Form 10-K/A-1 as an amendment to the 1993 Annual Report
on Form 10-K of The Travelers Inc.






                                                 /s/ Coopers & Lybrand
                                                   Coopers & Lybrand


Hartford, Connecticut
June 24, 1994






                                                    Exhibit 23.03
                                                    -------------
  
  


                      INDEPENDENT AUDITORS' CONSENT
                      -----------------------------


   The Board of Directors
   American Capital Management & Research, Inc.


   We consent to the incorporation by reference in the Registration
   Statement on Form S-8 (No. 33-37399) of our report dated May 26,
   1994 relating the financial statements of American Capital
   Management & Research, Inc. Profit Sharing and Savings Plan as of
   December 31, 1993 and 1992, and for each of the years in the two-
   year period ended December 31, 1993, which report is being filed with
   Form 10-K/A-1 as an amendment to the 1993 Annual Report on Form 10-K
   of The Travelers Inc.




                                   /s/ KPMG PEAT MARWICK
                                     KPMG PEAT MARWICK


   Houston, Texas
   June 22, 1994