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Dec 31, 2023
Travelers Q4 2023 Earnings Report
Reported excellent results driven by underwriting and investment performance.
Key Takeaways
Travelers reported record quarterly net income of $1.626 billion and core income of $1.633 billion, driven by strong underwriting and investment results. The combined ratio improved significantly, and net written premiums grew by 13%.
Record quarterly net income of $1.626 billion and core income of $1.633 billion, driven by both underwriting and investment results.
Exceptional consolidated combined ratio of 85.8%, an 8.7 point improvement, and underlying combined ratio of 85.9%, a 5.5 point improvement.
Net written premiums of $9.994 billion for the quarter, up 13%, and full year net written premiums of $40.201 billion, up 14%; both periods reflect growth in all three segments.
Net investment income increased 24% pre-tax over the prior year quarter, primarily due to strong fixed income returns and growth in fixed maturity investments.
Travelers
Travelers
Travelers Revenue by Segment
Revenue by Segment
Business Insurance Revenue
CapyFin.comBond & Specialty Revenue
CapyFin.comPersonal Insurance Revenue
CapyFin.com Forward Guidance
Travelers anticipates continued strong performance, driven by excellent fundamentals, strategic investments, and a focus on innovation.
Positive Outlook
- Business Insurance is growing while achieving very strong margins.
- Bond & Specialty business continues to produce excellent returns.
- Personal Insurance business is showing significantly improved profitability, and the outlook is for continued improvement.
- Record cash flows have enabled strategic investments and returns to shareholders.
- Higher fixed income yields set up for higher levels of net investment income moving forward.
Revenue & Expenses
Visualization of income flow from segment revenue to net income