Core income and core ROE were affected by high level of catastrophe losses from the California wildfires and Hurricane Michael.
Decrease primarily due to a decrease in net favorable prior year reserve development of $126M and an increase in catastrophe losses of $111M, partly offset by an increase in underlying writing gain of $106M and in increases in net investment income of $29M.
Q4 net written premiums of $6.69B rose 4% from $6.42B a year ago.
Q4 total revenue $7.80B, up 5% from $7.45B a year ago.
Q4 catastrophes, net of reinsurance, of $610M vs. $499M a year ago.
Q4 net investment income of $630M vs. $601M a year ago.
Q4 underlying combined ratio of 91.1% vs. 92.4% a year ago.
Q4 core return on equity 10.0% vs. 11.1%.
Adjusted book value per share of $87.27 at Dec. 31, 2018 vs. $83.36 at Dec. 31, 2017.
Conference call at 9:00 AM ET.
Previously: The Travelers Companies misses by $0.01, beats on revenue (Jan. 22)
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