Travelers' Q3 Triumph: Strong Premium Growth And Underwriting Gains Propel Massive Earnings Beat

The Travelers Companies (NYSE:TRV) shares are trading higher premarket on Thursday after the company reported third-quarter revenue growth of 12% year-over-year to $11.904 billion, beating the consensus of $11.491 billion.

Core income per share jumped 169% to $5.24, beating the $3.64 consensus estimate.

Core income increased mainly due to improved underwriting gains, better reserve development, and higher net investment income, partially offset by higher catastrophe losses.

For the third quarter, net written premiums increased by 8% to $11.3 billion. In Business Insurance, net written premiums rose 9% to $5.5 billion, with a 10.5% increase in renewal premiums and 86% retention.

Bond & Specialty Insurance premiums grew 7% to over $1.1 billion, featuring 90% retention in management liability and a 7% increase in ...