Travelers Reports Third Quarter Net and Operating Income per Diluted Share of $2.45 and $2.40, Respectively
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Travelers (TRV) Tops Q3 EPS by 9c
October 20, 2016 6:58 AM EDTTravelers (NYSE: TRV) reported Q3 EPS of $2.40, $0.09 better than the analyst estimate of $2.31. Revenue for the quarter came in at $6.96 billion versus the consensus estimate of $6.37 billion.
We were pleased with our third quarter operating income of $701 million and operating return on equity of 12.5%, which brings our year-to-date operating return on equity to 12.2%, commented Alan Schnitzer, Chief Executive Officer. Underwriting results for the quarter reflected lower net favorable prior year reserve development, higher non-catastrophe weather-related losses and higher-than-expected losses associated with auto bodily injury but nonetheless remained strong as reflected in our 92.9% combined ratio.... More
