TRV - Travelers' Q2 Earnings Beat Expectations With Strong Core Income | Benzinga
The Travelers Companies (NYSE:TRV) shares are trading higher on Friday after the company reported Q2 revenue growth of 12% Y/Y to $11.283 billion, missing the consensus of $11.341 billion.
Core income per share reached $2.51, up from 6 cents a year ago, beating the $1.98 consensus forecast.
Core income increased mainly due to improved underwriting gains, better reserve development, and higher net investment income, partially offset by higher catastrophe losses.
For the second quarter, net written premiums increased by 8% Y/Y to $11.12 billion.
In Business Insurance, net written premiums rose 7% to $5.5 billion, with a 10.1% increase in renewal premiums, 85% retention, and record new business of $732 million.
Bond & Specialty Insurance premiums grew 8% ...