Travelers: Q2 EPS below expectations
(CercleFinance.com) - Travelers Companies has reported Q2 adjusted net income that is up 9% at 537 million dollars, i.
e. 2.02 dollars per share, about thirty cents below the consensus.
The insurer explains that it benefited from a reduction in catastrophe losses and an increase in net investment income, although this was partly offset by higher losses resulting from extreme weather conditions (excluding catastrophes).
Travelers posted net premiums written that are up 4% at 7.45 billion dollars in the second quarter, reflecting growth at each of its segments, albeit with an underlying combined ratio that deteriorated to 94.9%.
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e. 2.02 dollars per share, about thirty cents below the consensus.
The insurer explains that it benefited from a reduction in catastrophe losses and an increase in net investment income, although this was partly offset by higher losses resulting from extreme weather conditions (excluding catastrophes).
Travelers posted net premiums written that are up 4% at 7.45 billion dollars in the second quarter, reflecting growth at each of its segments, albeit with an underlying combined ratio that deteriorated to 94.9%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.