Travelers: Q3 results easily beat consensus

(CercleFinance.com) - On Thursday, the US insurance group Travelers reported quarterly results well in excess of analysts' expectations, thanks to a rise in premiums and a good investment performance.


The New York-based insurer posted Q3 net income of $1.26bn for the three months to end-September, compared with a profit of $404m a year earlier.

On a core basis, EPS was $5.24, well ahead of the consensus of $3.55 for the quarter.

Net written premiums rose by 8% to over $11.3bn in Q3, while net investment income came to $904m, compared with $769m a year earlier.

Sales rose by 9% to $11.9bn, also exceeding the consensus figure of $11.5bn.

Catastrophe losses, mainly due to Hurricane Helene, totalled $939m, compared with $850m for Q3 last year.

The combined ratio, which measures premiums collected compared with total payments, improved to 93.2 compared with 101 last year, back below the 100 threshold, reflecting the profitability of its activities.

The Dow Jones-listed property & casualty insurance specialist's stock was up over 6% in pmt on Wall Street, well on its way to beating new all-time highs.


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