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July 20, 2021, 7:17 a.m. EDT

Travelers reports big profit beat as investment income triples

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By Tomi Kilgore

Travelers Companies Inc. /zigman2/quotes/206313935/composite TRV +0.10% reported Tuesday that it swung to a second-quarter profit that was well above expectations, amid strong growth in investment income and a drop in catastrophe losses. The insurer's stock was still inactive in premarket trading. Net income for the quarter was $934 million, or $3.66 a share, after a loss of $40 million, or 16 cents a share, in the year-ago period. Excluding nonrecurring items, core earnings per share came to $3.45, beating the FactSet consensus of $2.39. Total revenue grew 17% to $8.69 billion, above the FactSet consensus of $8.22 billion, as net written premiums increased 11% to $8.14 billion to beat expectations of $7.76 billion. Net investment income tripled, to $818 million from $268 million, while catastrophe losses declined 44% to $475 million. The stock has gained 7.8% year to date through Monday, while the SPDR S&P Insurance ETF /zigman2/quotes/205505650/composite KIE +0.07% has advanced 9.5% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.56% has advanced 11.0%.

$ 163.21
+0.16 +0.10%
Volume: 1.26M
Jan. 14, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$40.15 billion
Rev. per Employee
US : U.S.: NYSE Arca
$ 41.33
+0.03 +0.07%
Volume: 1.36M
Jan. 14, 2022 4:10p
US : Dow Jones Global
-201.81 -0.56%
Volume: 396.47M
Jan. 14, 2022 5:16p

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