Fri, Jul 19, 11:01 AM (50 days ago)
For the quarter ended June 30, 2024, The Travelers Companies, Inc. reported net income of $534 million, or $2.29 per diluted share, compared to a net loss of $14 million, or $0.07 per diluted share, in the same period of 2023. Key drivers included higher net investment income of $885 million and net favorable prior year reserve development of $230 million. However, catastrophe losses rose to $1.51 billion. The combined ratio improved to 100.2% from 106.5% in Q2 2023, reflecting better underwriting margins and favorable reserve development. Total revenues increased by 12% to $11.28 billion, driven by higher premiums and investment income. The company returned $498 million to shareholders via dividends and share repurchases. Future performance may be influenced by market conditions, catastrophe losses, and investment income variability.