Travelers Companies reported strong Q3 2024 results with net income surging 212% to $1.26 billion, or $5.42 per diluted share. Total revenues increased 12% to $11.9 billion, driven by earned premium growth of 10% to $10.7 billion and net investment income rising 18% to $904 million. The combined ratio improved significantly to 93.2% from 101.0% in Q3 2023.The improved performance was driven by higher underlying underwriting margins, net favorable prior year reserve development of $126 million compared to unfavorable development in 2023, and increased investment returns. Business Insurance segment income rose 49% to $698 million, while Personal Insurance swung to a profit of $384 million from a loss last year. Bond & Specialty Insurance income declined 16% to $222 million.Catastrophe losses totaled $939 million pre-tax, primarily from Hurricane Helene and severe storms. The company maintained strong capital management, returning $496 million to shareholders through $253 million in share repurchases and $243 million in dividends. Total capital returned year-to-date was $1.46 billion. Book value per share increased to $122.00, reflecting both earnings growth and lower unrealized investment losses.

Travelers Companies reported strong Q3 2024 results with net income surging 212% to $1.26 billion, or $5.42 per diluted share. Total revenues increased 12% to $11.9 billion, driven by earned premium growth of 10% to $10.7 billion and net investment income rising 18% to $904 million. The combined ratio improved significantly to 93.2% from 101.0% in Q3 2023.The improved performance was driven by higher underlying underwriting margins, net favorable prior year reserve development of $126 million compared to unfavorable development in 2023, and increased investment returns. Business Insurance segment income rose 49% to $698 million, while Personal Insurance swung to a profit of $384 million from a loss last year. Bond & Specialty Insurance income declined 16% to $222 million.Catastrophe losses totaled $939 million pre-tax, primarily from Hurricane Helene and severe storms. The company maintained strong capital management, returning $496 million to shareholders through $253 million in share repurchases and $243 million in dividends. Total capital returned year-to-date was $1.46 billion. Book value per share increased to $122.00, reflecting both earnings growth and lower unrealized investment losses.