Property-casualty insurance coverage firm Travelers TRV -1.31% Cos.’s reported a rise in revenue and web written premiums for the quarter that ended final month and reported slightly below $400 million in pretax disaster losses.
Vacationers reported earnings of $827 million, which rose from $396 million a yr earlier. The insurance coverage firm’s earnings had been $3.23 a share, up from $1.50 a share. The corporate’s core revenue—which excludes some gadgets—was $3.12 a share. That was greater than $3.03 a share, the consensus estimate from Wall Road in response to FactSet.
The corporate’s outcomes had been helped by a web favorable prior yr reserve improvement. For the comparable quarter a yr in the past, that improvement was unfavorable and damage Vacationers’ outcomes.
Pretax disaster losses at Vacationers had been $397 million. A yr earlier, they had been $241 million.