News about TRV

Travelers reported third-quarter core income of $1.947 billion, or $9.18 per diluted share, with a combined ratio of 86.8% and a core return on equity of 22.1%. After-tax net investment income rose 7% to $908 million, and the company returned $1.8 billion to shareholders through $1.5 billion in buybacks and $261 million in dividends. Catastrophe losses totaled $538 million, mainly from wind and hail in the Central U.S., while prior-year reserve development was a net favorable $234 million, partly offset by a $295 million charge for asbestos reserves. Management warned that lawsuit abuse keeps pressuring liability losses, and expects the full-year expense ratio to stay slightly below 29% as higher variable compensation rises with strong results.