Travelers Cos., a major property-casualty insurer, logged an increase in profit in the fourth quarter and reported a modest rise in net written premiums.
Travelers’s net written premiums for the fourth quarter—a big component of the company’s revenue—rose a little under 3% from a year earlier to $7.27 billion. According to FactSet, analysts were expecting $7.3 billion. While net written premiums for business insurance slipped slightly, they rose for bond and specialty insurance and personal insurance.
Total revenue at Travelers climbed more than 4% to $8.4 billion.
The company reported pretax catastrophe losses, net of reinsurance, of $29 million. A year earlier, those losses were $85 million. Net investment income was $677 million, up almost 10% from a year before.
Profit at Travelers for the quarter was $1.31 billion, or $5.10 a share. The company’s profit the comparable quarter a year before was $873 million, or $3.35 a share.
