Travelers: record Q4 net income

(CercleFinance.com) - On Friday, US insurer Travelers reported a quarterly profit that almost doubled y-o-y, thanks to higher premiums and good investment results.


The New York-based group posted record Q4 net earnings of over $1.6bn, or $6.99 per share, compared with $819m ($3.44 per share) in the corresponding period of 2022.

By way of comparison, the consensus was looking for a lot less - around $5.10.

Net written premiums rose by 13% to $9.99bn in the quarter, while catastrophe losses declined. Income from investments rose by 24%.

The combined ratio, which compares premiums collected to claims paid out, rose by 1.4 points to 97%, while remaining below the 100% threshold, testifying to the profitability of its activities.

Overall revenues rose by 13% to $10.93bn.

Travelers shares, one of the 30 stocks making up the Dow Jones index, gained over 4% in pre-market trading after all these announcements.


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