The Travelers Companies 8-K
PositiveEarnings
Record $1.10B pre-tax investment income and favorable reserve development lifted earnings despite higher catastrophe losses, mainly from wind and hail.
Filed 2026-10-16 06:58 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q3 2026 and year-to-date results. Travelers reported higher net and core income; stronger prior-year reserve development and investment income supported results, partly offset in Q3 by higher catastrophe losses.
Key Figures
| Metric | Q3 2026 | YTD 3Q 2026 |
|---|---|---|
| Total revenues | $12.4B, flat Y/Y | $36.5B, flat Y/Y |
| Net written premiums | $11.5B, flat Y/Y | $33.3B, -1% Y/Y |
| Net income | $1.92B, +2% Y/Y | $5.84B, +54% Y/Y |
| Core income, non-GAAP | $1.95B, +4% Y/Y | $5.80B, +52% Y/Y |
| Diluted EPS | $9.04, +10% Y/Y | $27.05, +64% Y/Y |
| Core diluted EPS, non-GAAP | $9.18, +13% Y/Y | $26.90, +63% Y/Y |
| Combined ratio | 86.8%, vs 87.3% | 86.3%, vs 93.2% |
| Underlying combined ratio | 84.1%, vs 83.9% | 84.5%, vs 84.4% |
- Q3 net favorable prior-year reserve development was $234M pre-tax, including a $295M asbestos reserve addition; catastrophe losses were $538M pre-tax, primarily from severe wind and hail. Net investment income reached a record $1.10B pre-tax, up 6% Y/Y ($908M after-tax, up 7%). Excluding the divested Canadian operations, net written premiums grew 4% in Business Insurance and 13% in Bond & Specialty Insurance, and declined 3% in Personal Insurance.
- Travelers returned $1.769B of capital in Q3, including $1.508B to repurchase 4.0M shares at an average $376 per share. Common shares outstanding were 204.9M vs 223.0M a year earlier. The board declared a $1.25 per-share dividend, payable 12/31/2026 to holders of record 12/10/2026.
- Shareholders’ equity was $28.995B, down 12% from year-end 2025; after-tax net unrealized investment losses were $6.352B, up from $1.478B at year-end, driven by higher interest rates. Book value per share was $141.48, down 6% from year-end; adjusted book value per share was $172.47, up 9%. Debt-to-capital was 25.3%, or 21.7% excluding after-tax unrealized investment losses.
Guidance
No guidance in this filing.
The summary is written by an AI model reading the filing.
Model 005 · prompt 5998ea898f · 2026-10-16 14:34:50Z