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Travelers Cos., A leading property and casualty insurer, reported an increase in fourth quarter profits and reported a slight increase in net written premiums.
Net traveler’s written premiums for the fourth quarter – a significant component of the company’s revenue – rose just under 3% from a year earlier to $ 7.27 billion. According to FactSet, analysts were expecting $ 7.3 billion. While net premiums written for commercial insurance declined slightly, they increased for bond and specialty insurance and personal insurance.
Travelers’ total income rose more than 4% to $ 8.4 billion.
The company reported catastrophic pre-tax losses, net of reinsurance, of $ 29 million. A year earlier, those losses were $ 85 million. Net investment income was $ 677 million, up almost 10% from the previous year.
Travelers’ profit for the quarter was $ 1.31 billion, or $ 5.10 per share. The company’s profit for the comparable quarter a year earlier was $ 873 million, or $ 3.35 per share.
The basic income of travelers was $ 4.91 per share. According to FactSet, the consensus of Wall Street analysts was $ 3.18 per share.
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