Travelers Companies Q3 Profit Misses Estimates; Revenue Up 3% - Quick Facts

(RTTNews) - The Travelers Companies, Inc. (TRV) reported third quarter core income per share of $3.12, compared to $1.43, prior year. The company said its core income increased primarily due to net favorable prior year reserve development compared to net unfavorable prior year reserve development in the prior year quarter, a higher underlying underwriting gain and higher net investment income, partially offset by higher catastrophe losses. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $3.16, for the quarter. Analysts' estimates typically exclude special items.

Third quarter total revenue was up 3 percent to $8.27 billion. Net written premiums were up 3 percent to $7.77 billion. Analysts expected revenue of $7.55 billion, for the quarter.