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

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 2 3 4 5 6 7 8 9 ... Next › Last »