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Mar 31, 2023
Travelers Q1 2023 Earnings Report
Reported strong first quarter results driven by underwriting and investment expertise, despite elevated catastrophe losses.
Key Takeaways
Travelers reported a net income of $975 million for Q1 2023, with a core income of $970 million. The company saw record net written premiums of $9.396 billion, up 12% compared to the prior year quarter. The board declared an 8% increase in the regular quarterly cash dividend to $1.00 per share and authorized an additional $5.0 billion of share repurchases.
Net income for the quarter was $975 million, and core income was $970 million.
Catastrophe losses were elevated at $535 million pre-tax ($422 million after-tax), and the quarter included a one-time tax benefit of $211 million.
The consolidated combined ratio was 95.4%, and the underlying combined ratio was 90.6%.
Total capital returned to shareholders was $680 million, including $462 million of share repurchases.
Revenue by Segment
Forward Guidance
Travelers' Board of Directors declared an 8% increase in the regular quarterly dividend to $1.00 per share and authorized an additional $5.0 billion of share repurchases.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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