TRV · The Travelers Companies, Inc.

The Travelers Companies, Inc. delivered strong first quarter 2026 results, with net income of $1.711 billion, or $7.78 per diluted share, compared to $395 million, or $1.70 per diluted share, in the prior year quarter. The significant improvement was primarily driven by lower catastrophe losses, which decreased to $761 million pre-tax from $2.266 billion in the prior year quarter, and higher net investment income. Core income for the quarter was $1.696 billion, or $7.71 per diluted share, compared to $443 million, or $1.91 per diluted share, in the prior year quarter. The consolidated combined ratio improved to 88.6% from 102.5%, reflecting the lower catastrophe impact and $413 million of net favorable prior year reserve development across all three segments. The underlying combined ratio was 85.3%. Net written premiums decreased 2% to $10.338 billion; excluding the impact of the divested Canadian operations, premiums increased slightly. Net investment income rose 8% to $1.008 billion pre-tax, benefiting from higher yields and growth in average invested assets. The Company returned $2.223 billion of capital to shareholders, including $1.985 billion of share repurchases. Reflecting confidence in the financial outlook, the Board of Directors declared a 14% increase in the regular quarterly dividend to $1.25 per share, marking 22 consecutive years of dividend increases. Book value per share was $150.42, while adjusted book value per share increased 2% from year-end 2025 to $161.60.