(Reuters) – Real Estate / Accident Insurance Provider Travelers Cos. Inc. reported an increased quarterly result that beat analysts' estimates on Thursday, helped by a return on investment and lower disaster claims.
The company reported core revenue of $ 1.26 billion, or $ 4.91 per share, during the fourth quarter ending December 31, compared to $ 867 million or $ 3.32 per share a year earlier.
Analysts had expected an average earnings of $ 3.18 per share, according to Refinitiv data.
Travelers, often seen as a clockwork for the insurance industry, as they typically report before their industry peers, said net written-off premiums increased by 3% to $ 7.27 billion for the reported quarter. of a year of the COVID-1
Travelers' insurance profits increased to $ 955 million from $ 513 million a year earlier, while net investment before tax increased by 10% to $ 677 million, aided by gains in its portfolio of non-interest-bearing investments.
The company reported an overall share of 86.7% compared to 92.4% a year earlier.
The insurer reported catastrophic losses after reinsurance of $ 29 million during the quarter, compared to $ 85 million the year before. Total cat losses rose to $ 1.6 billion and were mainly affected by tornadoes, storms, hurricanes and unrest in the United States.