- Travelers (NYSE:TRV) Q3 core EPS $2.54, beating consensus estimate of $2.27, and more than double from 91 cents a year ago.
- "Net investment income of $646M pretax was very strong, increasing by 10% over the prior year quarter due to higher returns in both our fixed income and private equity portfolios," says Chairman and CEO Alan Schnitzer.
- Q3 net written premiums $7.06B, up 6% from $6.66B a year ago.
- Combined ratio of 96.6% vs. 103.2% a year ago; underlying combined ratio of 93.0% vs. 92.8%.
- Q3 catastrophe losses of $264M pretax, down from $700M pretax a year ago.
- Q3 return on equity 12.6% vs 4.9% a year ago; core ROE 12.0% vs. 4.5%.
- Book value per share $84.82 at Sept. 30, 2018 vs. $87.46 at Dec 31, 2017; adjusted book value per share $86.51 at Sept. 30, 2018 vs. $83.36 at Dec. 31, 2017.
- TRV +0.4% in premarket trading.
- Previously: The Travelers Companies beats by $0.27, beats on revenue (Oct. 18)
- Now read: Travelers: A Story Built On Share Repurchases
Original article