Travelers (TRV) Misses Q3 EPS, Revenues Beat
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Travelers Reports Third Quarter 2023 Net Income of $404 million and Core Income of $454 million
October 18, 2023 6:57 AM EDTThird Quarter 2023 Net Income per Diluted Share of $1.74 and Return on Equity of 7.7%
Third Quarter 2023 Core Income per Diluted Share of $1.95 and Core Return on Equity of 6.9%
Excellent underlying underwriting income of $868 million pre-tax, up 43%. Consolidated combined ratio of 101.0%; and underlying combined ratio of 90.6%, a 1.9 point improvement. Catastrophe losses of $850 million pre-tax compared to $512 million pre-tax in the prior year quarter. Net unfavorable prior year reserve development of $154 million pre-tax primarily due to an addition to asbestos reserves of $284 million pre-tax. Record... More