Travelers down more than 2% after earnings miss

|About: The Travelers Companies,... (TRV)|By:, SA News Editor

Q1 core income of $678M or $2.46 per share vs. $614M and $2.16 a year ago.

Net written premiums up 5% Y/Y to $6.824B.

Combined ratio deteriorates 50 basis points Y/Y to $95.5%; underlying combined ratio improves 70 basis points to 92.4%.

Net investment income down 7% Y/Y to $603M.

Adjusted book value per share of $84.54 up 1% for the quarter, up 4% Y/Y; $401M of buybacks during quarter. Dividend bumped 7% to $0.77 per share.

CEO Alan Schnitzer: The pricing environment in Business Insurance continues to improve, with domestic renewal premiums up 4.5% Y/Y.

Conference call at 9 ET

Previously: The Travelers Companies misses by $0.31, beats on net written premium (April 24)

Previously: The Travelers Companies declares $0.77 dividend (April 24)

TRV -2.35% premarket

Subscribe for full text news in your inbox