Travelers reports big profit beat as investment income triples

4 months ago 21
PR Distribution

Travelers Companies Inc. TRV, -3.28% reported Tuesday that it swung to a second-quarter nett that was good supra expectations, amid beardown maturation successful concern income and a driblet successful catastrophe losses. The insurer's banal was inactive inactive successful premarket trading. Net income for the 4th was $934 million, oregon $3.66 a share, aft a nonaccomplishment of $40 million, oregon 16 cents a share, successful the year-ago period. Excluding nonrecurring items, halfway net per stock came to $3.45, beating the FactSet statement of $2.39. Total gross grew 17% to $8.69 billion, supra the FactSet statement of $8.22 billion, arsenic nett written premiums accrued 11% to $8.14 cardinal to bushed expectations of $7.76 billion. Net concern income tripled, to $818 cardinal from $268 million, portion catastrophe losses declined 44% to $475 million. The banal has gained 7.8% twelvemonth to day done Monday, portion the SPDR S&P Insurance ETF KIE, -2.75% has precocious 9.5% and the Dow Jones Industrial Average DJIA, -2.09% has precocious 11.0%.

Read Entire Article