User Notice: The site will be occasionally unavailable due to scheduled maintenance this weekend. Please accept our apologies for any inconvenience.

Buy
Sell
Share Name Share Symbol Market Type
The Travelers Companies Inc NYSE:TRV NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.31 0.19% 160.81 161.10 158.14 158.30 1,057,341 23:05:49

Travelers Posts Lower Profit as Catastrophe Losses Rise

21/04/2020 1:08pm

Dow Jones News


The Travelers Companies (NYSE:TRV)
Historical Stock Chart


From May 2019 to May 2021

Click Here for more The Travelers Companies Charts.
By Allison Prang 

Property-casualty insurance company Travelers Cos. reported lower profit in the first quarter.

Travelers' profit in the period fell to $600 million, down 25%. Earnings were $2.33 a share, down from $2.99 a share.

Travelers' core operating earnings were $676 million, down from $755 million. Those core earnings fell to $2.62 a share, down from $2.83 a share a year ago. According to FactSet, analysts were expecting $2.85 a share.

Core earnings don't include investment-portfolio losses, nonrecurring items or realized capital gains and are therefore followed closely.

Pretax catastrophe losses, net of reinsurance, were $333 million. They rose from $193 million a year earlier.

The company said it had $86 million in pretax net charges from Covid-19 and related economic conditions but that its underlying underwriting gain rose.

Revenue at Travelers rose more than 3% to $7.91 billion. Net premiums written rose over 4% to $7.35 billion.

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

April 21, 2020 07:53 ET (11:53 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

1 Year The Travelers Companies Chart

1 Year The Travelers Companies Chart

1 Month The Travelers Companies Chart

1 Month The Travelers Companies Chart
ADVFN Advertorial
Your Recent History
NYSE
TRV
The Travel..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20210508 08:49:37