Insurance service provider The Travelers Companies, Inc. (NYSE: TRV) Friday reported an increase in revenues and core earnings for the second quarter of 2024.
Second quarter net income was $534 million and core income was $585 million, vs. a net loss of $14 million and core profit of $15 million respectively in the year-ago quarterTotal revenue grew 12% annually to $11.28 billion during the three monthsIn Q2, the consolidated combined ratio improved 6.3 points from the prior year’s quarter to 100.2%Catastrophe losses were $1.509 billion pre-tax, compared to $1.481 billion pre-tax in the prior year quarterDuring the three months, the underlying combined ratio improved 3.4 points from Q2 2023 to 87.7%Q2 net written premiums rose 8% to a record of $11.115 billion, with growth across all three segmentsNet investment income increased 24% pre-tax year-over-year to $885 million, primarily due to strong fixed income returns and growth in fixed maturity investments
The post Earnings Summary: Travelers Companies reports higher revenue, core income for Q2 first appeared on AlphaStreet.
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