The Travelers Companies, Inc. (TRV) reported a 48% increase in quarterly profit exceeding analysts’ estimates as lower catastrophe-related claims filled up from investment losses. The company’s core income increased to $1.04 billion, or $4.22 per share, in the first quarter ended March 31, from $699 million, or $2.73 per share, a year earlier. Net written premiums rose 11% to $8.37 billion in the quarter.
Travelers’ underwriting gains increased to $659 million from $217 million a year earlier, while pretax net investment income dropped by 9% to $637 million, hurt by a decline in income from the insurer’s non-fixed income investment portfolio. The company reported a combined ratio of 91.3%, compared with 96.6% a year earlier (a ratio below 100% means the insurer earned more in premiums than it paid out in claims).
Dow 30 component, The Travelers Companies, Inc. (TRV) is an insurance provider of property-casualty insurance for home, auto, and business. To learn more about The Travelers Companies, Inc. (TRV) and to continue to track its progress please visit the Vista Partners Travelers Companies, Inc. Coverage Page.
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