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Travelers Report Q3 Earnings, Beat Estimates

By John F. Heerdink, Jr.

The Travelers Companies, Inc. (TRV) reported third-quarter earnings this week, beating market estimates driven by lower costs, high premiums, and increasing returns from non-fixed income investments.

The Property and casualty insurer net written premiums increased 3% to $7.77 billion for the quarter. Its core income stood at $3.12 per share, above analysts’ average estimate of $3.03 per share.

Overall profit stood at $827 million for the quarter ending September 30, moved by a one-time gain of about $403 million from Pacific Gas & Electric’s emergence from bankruptcy. However, the quarter saw lower revenue from fixed-income investments but an increase in revenue from non-fixed income investments was noted, including private equity.

The company reported pretax catastrophe losses of $397 million, mainly from severe storms in several regions of the United States and wildfires.

Claims and claim adjustment expenses dropped to $4.89 billion from $5.23 billion. Travelers reported a combined ratio of 94.9% in comparison to101.5% a year earlier (a ratio below 100% depicts the insurer earns more in premiums than in claims payouts).

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. 

 

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. 

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(Read Original Story: U.S. insurer Travelers profit beats on higher premiums, lower costs in Reuters)


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