The Travelers Companies Inc. (NYSE:TRV) stock recovered earlier losses and was trading higher on Friday after the insurer reported strong third-quarter results, with both earnings and revenue beating analyst estimates.
42. 38 billion, according to Benzinga Pro.
95 billion. Higher favorable prior-year reserve development and investment income supported the growth.
5 billion in share repurchases and $261 million in dividends. 47.
9 billion for the quarter and $8 billion year to date. Catastrophe Losses Rise, Underwriting Improves Catastrophe losses increased to $538 million before tax from $402 million a year earlier.
S. drove most of the losses.
3%, reflecting favorable prior-year reserve development. A combined ratio below 100% indicates an underwriting profit.
5 billion. 1 billion before tax.
Higher yields and growth in invested assets supported the increase. 04 billion.
9 billion, excluding the impact of the Canadian business sale. 9%.
3%. 2 billion, supported by growth in management liability and surety insurance.
4 billion in net written premiums. 7%.
AI Investments And 2027 Outlook Travelers continues to expand artificial intelligence across claims processing and underwriting to improve efficiency and manage rising liability costs. During a pilot program, more than 80% of unrepresented claimants offered a digital claims resolution tool engaged with it.
Management noted that the fourth-quarter auto underlying loss ratio has historically run 5 to 6 percentage points above the average of the first three quarters, reflecting winter weather and holiday driving. 3 billion.
6 billion in 2027. A cyber reinsurance agreement effective Oct.
1 is expected to reduce net written premiums by $165 million in the fourth quarter and $230 million in 2027, with minimal impact on earnings. Management expects disciplined underwriting, higher investment income and continued technology investments to support performance through 2027.
76 at the time of publication on Friday. 69, according to Benzinga Pro data.
