Travelers Companies, Inc. (NYSE:TRV) announced robust second-quarter 2025 core income of $1.5 billion, or $6.51 per diluted share, far exceeding analyst forecasts of $3.60 per share. Revenue for the period totaled $12.12 billion, beating the consensus estimate of $11.62 billion.
Following the announcement, the insurance giant’s shares saw a slight decline of 0.23% in pre-market trading.
The company reported a consolidated combined ratio of 90.3%, marking a 9.9-point improvement compared to the same quarter last year. The underlying combined ratio, which excludes catastrophe losses and prior year reserve adjustments, improved by 3.0 points to 84.7%.
Travelers recorded record net written premiums of $11.54 billion, a 4% increase year-over-year, driven by growth across all three business segments. Net investment income also rose 6% on an after-tax basis compared to the previous year’s quarter.
“We are pleased to report excellent results for the quarter, with both underwriting and investment income contributing meaningfully to our performance,” said Alan Schnitzer, Chairman and Chief Executive Officer. “We earned core income of $1.5 billion, or $6.51 per diluted share, driven by excellent underlying results, strong net favorable prior year reserve development and higher investment income.”
Catastrophe losses during the quarter amounted to $927 million pre-tax, significantly less than the $1.51 billion reported in the prior-year period. Additionally, the company benefited from $315 million in net favorable prior year reserve development across all segments.
The Business Insurance segment, the largest division, saw net written premiums climb 5% to $5.79 billion. Bond & Specialty Insurance premiums increased 4% to $1.09 billion, while Personal Insurance premiums rose 3% to $4.67 billion.
Travelers returned $809 million to shareholders in the quarter, including $557 million in share repurchases. Book value per share increased 20% year-over-year to $131.11, and adjusted book value per share grew 14% to $144.57.
The Board of Directors also declared a quarterly dividend of $1.10 per share, payable on September 30, 2025, to shareholders of record as of September 10, 2025.
Travelers Companies stock price
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