This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Travelers Reports Net Income Per Diluted Share Of $2.21 And Quarterly Record Operating Income Per Diluted Share Of $2.22 For The Third Quarter

Stocks in this article: TRV

The Travelers Companies, Inc. today reported net income of $864 million, or $2.21 per diluted share, for the quarter ended September 30, 2012, compared to $333 million, or $0.79 per diluted share, in the prior year quarter. Operating income in the current quarter was $867 million, or $2.22 per diluted share, compared to $332 million, or $0.79 per diluted share, in the prior year quarter. The increase in net and operating income in the current quarter compared to the prior year quarter was primarily driven by lower catastrophe losses and higher underlying underwriting results. Catastrophe losses in the current quarter were $59 million after tax ($91 million pre tax), compared to $394 million after tax ($606 million pre tax) in the prior year quarter.

 

Consolidated Highlights

                                   
($ in millions, except for per share amounts, and after-tax, except for premiums & revenues)   Three Months Ended September 30,       Nine Months Ended September 30,  
2012   2011   Change   2012   2011   Change  
 
Net written premiums $ 5,697 $ 5,672 - % $ 17,062 $ 16,926 1 %
                           
 
Total revenues $ 6,512 $ 6,407 2 $ 19,263 $ 19,073 1
 
Operating income $ 867 $ 332 161 $ 2,163 $ 781 177

per diluted share

$ 2.22 $ 0.79 181 $ 5.48 $ 1.82 201
 
Net income $ 864 $ 333 159 $ 2,169 $ 808 168
per diluted share $ 2.21 $ 0.79 180 $ 5.50 $ 1.88 193
 

Diluted weighted average shares outstanding

387.9 418.5 (7 ) 391.5 425.6 (8 )
 
GAAP combined ratio 90.3 % 104.5 % (14.2 ) pts 94.3 % 108.2 % (13.9 ) pts
 
Operating return on equity 15.5 % 5.9 % 9.6 pts 13.1 % 4.5 % 8.6 pts
 
Return on equity 13.6 % 5.3 % 8.3 pts 11.6 % 4.3 % 7.3 pts
 
As of September 30,  
2012 2011 Change  
Book value per share $ 67.81 $ 60.98 11 %
Adjusted book value per share $ 59.13 $ 54.53 8
 
See Glossary of Financial Measures for definitions and the statistical supplement for additional financial data.
     
 

“We are very pleased with our strong results this quarter,” commented Jay Fishman, Chairman and Chief Executive Officer. “Our underwriting performance reflected a GAAP combined ratio of 90.3%, which benefited from lower weather-related losses as well as the rate gains we have achieved during the past year. Net investment income benefited from strong results in our non-fixed income portfolio.

1 of 12

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs