Travelers Q1 2025 earnings summary

Net income was 395 million dollars or 1.70 per share, down 65 percent from Q1 2024. Core income was 443 million dollars or 1.91 per share, down 60 percent, mainly due to 2.27 billion dollars in catastrophe losses from California wildfires. Underlying underwriting income rose 32 percent to 1.58 billion dollars pre-tax. The underlying combined ratio improved 2.9 points to 84.8 percent. Net investment income increased 10 percent to 930 million dollars. Net written premiums rose 3 percent to 10.52 billion dollars.

Segment performance

Business Insurance income was 683 million dollars, down 11 percent, with 2 percent premium growth. Bond and Specialty Insurance income rose 13 percent to 220 million dollars with 6 percent premium growth. Personal Insurance reported a loss of 374 million dollars due to 1.7 billion dollars in catastrophe losses, though premiums rose 5 percent.

Capital return and outlook

Travelers repurchased 358 million dollars in shares. The dividend was raised 5 percent to 1.10 dollars per share, marking 21 consecutive years of increases. Return on equity was 5.6 percent. Core return on equity was also 5.6 percent. Book value per share was 124.43 dollars; adjusted book value was 138.99 dollars.

Despite heavy catastrophe losses, core underwriting and investment performance remained strong.

Travelers Launches Enhanced Cyber Risk Services for Policyholders

The Travelers Companies, Inc. has introduced *Travelers Cyber Risk Services*, a comprehensive set of capabilities included with all cyber liability insurance policies. These services aim to help businesses anticipate, prevent, and recover from cyberattacks more effectively.

The suite features a 24/7 Cyber Risk Dashboard for monitoring threats, expert consultations to strengthen defenses, and personalized onboarding with tailored recommendations and vendor access. These enhancements reflect the growing concern over cybersecurity, highlighted in the recent Travelers Risk Index.

Travelers has further bolstered its cyber capabilities by acquiring Corvus, a cyber insurance underwriter known for its proprietary technology and solutions. The company says these services will help businesses maintain operations and avoid costly recovery efforts following cyber incidents.

Travelers Cyber Risk Services are available at no additional cost with a Travelers cyber insurance policy. The company continues to expand its leadership in cybersecurity support, leveraging both internal expertise and innovative technology.

Travelers Recognizes 2025 Personal Insurance Agent of the Year Honorees

The Travelers Companies, Inc. (NYSE: TRV) announced the recipients of its prestigious *2025 Personal Insurance Agent of the Year Award*, celebrating top-performing independent agents for their outstanding customer service, community dedication, profitable growth, and long-standing partnership with Travelers.

The honorees were recognized during the company’s annual leadership conference for top independent agents and brokers. Michael Klein, EVP and President of Personal Insurance, praised the recipients as leaders in delivering personalized insurance solutions and trusted guidance.

2025 Honorees Include:
- Greg Dunn, NFP Canada
- Peter Feltner, The Feltner Group
- Holly Herron, Assure Alliance LLC
- Suzette Moniz, Lapointe Insurance
- Drew Monroe, Evertree Insurance
- Dan Scroggins, AAA Club Alliance Inc.
- Shane Tatum, Integra Insurance Services
- Tim Wilson, C.V. Mason Insurance Agency
- Jeff Wingate, Rate Insurance LLC
- Derick Wolsleger, Agents United

Travelers partners with over 13,000 independent agents across the U.S., emphasizing their role in connecting communities to trusted insurance protection.

For more information, visit [Travelers.com](https://www.travelers.com).

The Travelers Companies, Inc. (NYSE: TRV ) will review its first quarter 2025 results at 9 a.m. ET on Wednesday, April 16, following the release of results earlier that morning.

Travelers has introduced Travelers Synergy, a new customizable product liability insurance designed for life sciences companies. The coverage helps medical technology, pharmaceutical, biopharmaceutical, and digital health companies manage product-related claims throughout the development lifecycle.

Key features include errors and omissions liability, product recall expense reimbursement, and clinical trial medical expenses coverage. Customers also gain access to specialized claims support, risk management tools, and training services.

Travelers Synergy will be available in most states for policies effective from April 1, 2025. More details are available through insurance agents or at Travelers.com.

Travelers has released its Q4 2024 Cyber Threat Report, highlighting a rise in ransomware activity. The report, based on data from ransomware leak sites, shows that cybercriminals continue to use basic but effective attack methods, such as exploiting weak VPN credentials and bypassing systems without multifactor authentication (MFA).

Jason Rebholz, Vice President and Cyber Risk Officer at Travelers, emphasized the importance of security controls like MFA to prevent attacks. Travelers provides cybersecurity support to policyholders, including pre-breach services, real-time monitoring, and expert assistance to minimize risks and recover from cyber incidents.

The report also identifies an increase in new ransomware groups, likely due to law enforcement disruptions of established Ransomware-as-a-Service (RaaS) platforms. IT services and consulting firms have become prime targets, amplifying cyber risks across industries due to their interconnected client networks. Government agencies also saw a surge in attacks in late 2024. Additionally, the construction sector and healthcare organizations remained frequent ransomware targets.

This latest report follows Travelers' acquisition of Corvus, a cyber insurance provider, in early 2024. Travelers continues to strengthen its cybersecurity offerings as part of its broader property and casualty insurance services.

The Travelers Companies, Inc. filed a Form 8-K on January 27, 2025, announcing that senior leaders will participate in a series of meetings with investors and analysts. In preparation for these meetings, the company has posted a slide presentation on its website's Investors page. The slide presentation, intended to guide discussions during the meetings, is included as Exhibit 99.1 to the report but is not deemed to be filed under the Securities Exchange Act of 1934.

The company's participation in these meetings will not be webcast or publicly disclosed, aligning with its practice of selective engagement with stakeholders.

The Travelers Companies, Inc. has announced its outstanding financial performance for Q4 and the full year of 2024. Net income for the fourth quarter surged to $2.082 billion ($8.96 per diluted share), up 28% from Q4 2023. Similarly, core income rose to $2.126 billion ($9.15 per diluted share), reflecting a 31% year-over-year growth. For the full year, net income reached $5 billion, marking a significant 67% increase compared to 2023, driven by strong growth across all segments.

Key highlights include an improved consolidated combined ratio of 83.2% for Q4 (a 2.6-point improvement from 2023) and net written premiums totaling $10.742 billion for the quarter, up 7% year-over-year. The company achieved record full-year net written premiums of $43.356 billion, an 8% increase, with all segments contributing to this growth. Investment income also increased by 23% for Q4, supporting the company's financial strength.

By business segment, Business Insurance experienced an 8% increase in net written premiums for the year, supported by robust renewal premium changes and retention. Bond & Specialty Insurance achieved 7% growth, while Personal Insurance delivered a substantial turnaround with a $1.249 billion after-tax income for the year, up from a loss in 2023. The segment benefited from a 10.4-point improvement in the combined ratio, driven by better underwriting results and favorable reserve developments.

Travelers ended the year with a book value per share of $122.97 (up 13% from 2023) and an adjusted book value per share of $139.04. The company repurchased $252 million in shares during Q4 and declared a quarterly dividend of $1.05 per share, underscoring its commitment to delivering value to shareholders.

CEO Alan Schnitzer expressed confidence in the company's continued momentum, highlighting its robust financial position and strategic execution across all segments. Travelers remains well-poised for sustained growth in 2025, supported by strong underwriting results, effective investments, and disciplined capital management.