The Travelers Companies, Inc. (NYSE:TRV) recorded its third quarter earnings results on Tuesday 20th October 2020 before market open.
The commercial and personal property insurance provider, reported $ 3.23 income per share for the quarter
On adjusted basis, The Travelers Companies, Inc. reported income for the quarter of $ 3.12 per share, missed the consensus estimate of $ 3.16 income per share by $ 0.04 or 1.27 percent.
The quarterly earnings 115.33 percent compared with the same quarter last year.
The Travelers Companies, Inc. had revenue of $ 8,275.00 million for the quarter, compared to the consensus estimate of $ 7554.24 million. The revenues outshined analysts estimates by $ 720.76 million or 9.54 percent.
The financial report showed revenues improved 3.27 percent versus third quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
Alan Schnitzer, Chairman and Chief Executive Officer, commented, The underlying loss ratio benefited from disciplined underwriting and earned rate in excess of loss trend. The underlying expense ratio continues to benefit from our strategic focus on productivity and efficiency. Core income in the quarter also included favorable prior year reserve development, driven by our previously-announced PG&E subrogation recoveries.
The Board of Directors declared a regular quarterly dividend of $0.85 per share, payable on December 31, 2020, to shareholders of record at the close of business on December 10, 2020.
