Travelers Companies Reports Prelim. Q4 Results; Include Estimate For Catastrophe Losses Of $459 Mln

(RTTNews) - The Travelers Companies, Inc. (TRV) said, for the fourth quarter of 2022, the company expects to report net income of $819 million, or $3.44 per share, and core income of $810 million, or $3.40 per share. The company's fourth quarter 2022 results include the estimate for catastrophe losses of $459 million pre-tax, net of reinsurance.

Analysts polled by Thomson Reuters expect the company to report profit per share of $4.04. Analysts' estimates typically exclude special items.

Alan Schnitzer, CEO, said: "Aside from the catastrophic weather, underlying results in our commercial businesses were exceptional. Underlying results in Personal Insurance remain challenged by elevated industrywide loss costs. We recorded another quarter of progress with strong pricing and other actions to address these challenges. Across all three segments, we are also pleased with continued strong net written premium growth in the quarter, positioning us well as we enter the new year."

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