Travelers (TRV) Misses Q3 EPS by 4c
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Travelers Reports Third Quarter 2020 Net Income per Diluted Share of $3.23 and Core Income per Diluted Share of $3.12, Both Up Substantially from Prior Year Quarter
October 20, 2020 6:57 AM EDTThird Quarter Return on Equity of 12.1% and Core Return on Equity of 13.5%
Third quarter net income of $827 million and core income of $798 million. Consolidated combined ratio improved 6.6 points to a strong 94.9%; underlying combined ratio improved 2.6 points to a strong 91.5%. Net favorable prior year reserve development included the previously announced $403 million pre-tax of PG&E subrogation recoveries. Catastrophe losses of $397 million pre-tax compared to $241 million pre-tax in the prior year quarter. Net written premiums of $7.771 billion, up 3% compared to the prior year quarter. Strong renewal... More