- Operating income of $2.68 per share compares to $0.72 a year ago thanks to lower catastrophe losses ($53M during Q vs. $1.054B last year). $1B of share repurchases during Q - float is lower by 6% from last year. ROE of 15.9% is up more than 1K basis points from a year ago. Net investment income of $702M gains from $689M last year.
- Net written premiums of $5.633B up 5% Y/Y. Underlying GAAP (strips out catastrophes) combined ratio of 91.2% vs. 90.7% a year ago.
- Adjusted book value per share of $66.41 compares to $59.09 at the end of 2012.
- CC at 9 ET
- Press release, Q4 results
- TRV +2.2% premarket
Catastrophe losses disappear at Travelers
Jan 21 2014, 07:24 ET