Travelers’s Net Written Premiums Rose Under 3{ffaccff6b5e07cc1f8fb65d0cd045bc540f1c3f8348a05c16905532f0496f447} in Fourth Quarter

Travelers Cos., a major property-casualty insurer, logged an increase in profit in the fourth quarter and reported a modest rise in net written premiums.

Travelers’s net written premiums for the fourth quarter—a big component of the company’s revenue—rose a little under 3{ffaccff6b5e07cc1f8fb65d0cd045bc540f1c3f8348a05c16905532f0496f447} from a year earlier to $7.27 billion. According to FactSet, analysts were expecting $7.3 billion. While net written premiums for business insurance slipped slightly, they rose for bond and specialty insurance and personal insurance.

Total revenue at Travelers climbed more than 4{ffaccff6b5e07cc1f8fb65d0cd045bc540f1c3f8348a05c16905532f0496f447} to $8.4 billion.

The company reported pretax catastrophe losses, net of reinsurance, of $29 million. A year earlier, those losses were $85 million. Net investment income was $677 million, up almost 10{ffaccff6b5e07cc1f8fb65d0cd045bc540f1c3f8348a05c16905532f0496f447} from a year before.

Profit at Travelers for the quarter was $1.31 billion, or $5.10 a share. The company’s profit the comparable quarter a year before was $873 million, or $3.35 a share.

Source link

Previous post Banking Interview Questions
Next post Monetary Insurance coverage Accounting Software program