This Day On The Street
Continue to site
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

Travelers Reports Quarterly Records For Net And Operating Income Per Diluted Share Of $2.70 And $2.68, Respectively, As Compared To $0.78 And $0.72 In The Prior Year Quarter

The Board of Directors declared a quarterly dividend of $0.50 per share. This dividend is payable March 31, 2014, to shareholders of record as of the close of business on March 10, 2014.

 

Business Insurance Segment Financial Results
                                                                     
($ in millions and pre-tax, unless noted otherwise)                                      
Three Months Ended December 31, Twelve Months Ended December 31,
2013 2012 Change 2013 2012 Change
 
Underwriting gain (loss): $ 333 $ (119 ) $ 452 $ 936 $ 252 $ 684

Underwriting gain (loss) includes:
Net favorable prior year reserve development 121 120 1 325 467 (142 )
Catastrophes, net of reinsurance (41 ) (439 ) 398 (285 ) (794 ) 509
 
Net investment income 507 498 9 1,975 2,090 (115 )
 
Other 23 9 14 158 40 118
           
Operating income before income taxes 863 388 475 3,069 2,382 687
Income tax expense   229     62     167     740     539     201  
Operating income $ 634   $ 326   $ 308   $ 2,329   $ 1,843   $ 486  

 

 
                                                                 

 
GAAP combined ratio 88.9 % 103.5 % (14.6 ) pts 91.9 % 97.4 % (5.5 ) pts
 

Impact on GAAP combined ratio
Net favorable prior year reserve development (3.9 ) pts (4.0 ) pts 0.1 pts (2.7 ) pts (4.0 ) pts 1.3 pts
Catastrophes, net of reinsurance 1.3 pts 14.7 pts (13.4 ) pts 2.4 pts 6.8 pts (4.4 ) pts
 
Underlying GAAP combined ratio 91.5 % 92.8 % (1.3 ) pts 92.2 % 94.6 % (2.4 ) pts
                                                                 
 
Net written premiums by market
Select Accounts $ 637 $ 657 (3 ) % $ 2,724 $ 2,775 (2 ) %
Commercial Accounts 750 718 4 3,197 3,101 3
National Accounts 255 244 5 1,010 907 11
Industry-Focused Underwriting 620 599 4 2,645 2,554 4
Target Risk Underwriting 410 369 11 1,799 1,666 8
Specialized Distribution 202 198 2 858 870 (1 )
Other   (1 )   (1 ) -   -     (1 ) NM
Total $ 2,873   $ 2,784   3 % $ 12,233   $ 11,872   3 %
 
NM = Not Meaningful                                                              
 

Fourth Quarter 2013 Results

(All comparisons vs. fourth quarter 2012, unless noted otherwise)

Operating income of $634 million after-tax increased $308 million or 94%, primarily reflecting improved underwriting results driven by lower catastrophe losses and a higher underlying underwriting gain.

5 of 15

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,548.00 -95.01 -0.57%
S&P 500 1,972.16 -16.71 -0.84%
NASDAQ 4,792.5470 -35.7780 -0.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs