Elevated Catastrophe Losses From Hail and Wind Storm Hurt Travelers Companies Q1 Profit, Stock Slides [Yahoo! Finance]
The Travelers Companies, Inc. (TRV)
Last the travelers companies, inc. earnings: 4/21 06:57 am
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Source: Yahoo! Finance
from $4.11 a year ago, missing the $4.90 consensus forecast . Net income per share rose to $4.80 from $4.13 a year earlier. The stock declined after the results. The New York-based company offers auto, home, and business property casualty insurance. For the first quarter, net written premiums increased by 8% to $10.18 billion, while total revenues also increased 16% Y/Y to $11.23 billion, beating the Street consensus of $10.51 billion. The company attributed performance to strong profitability, production in all three segments, and higher investment income. The quarter included an elevated level of catastrophe losses of $712 million pre-tax, compared to $535 million pre-tax in the prior year quarter. Catastrophe losses primarily resulted from severe wind and hail storms in the central and eastern regions of the United States. The company's underlying combined ratio fell from 90.6% to 87.7% in the quarter. The lower the ratio, the more profitable the insurance company, and vi
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TRV
Earnings
- 4/17/24 - Miss
TRV
Sec Filings
- 4/26/24 - Form 4
- 4/25/24 - Form 144
- 4/24/24 - Form 4
- TRV's page on the SEC website