Travelers Companies Beats On Earnings And Revenue

By Caitlin Huston Markets MarketWatch Pulse

The Travelers Companies Inc. reported fourth-quarter net income Tuesday of $943 million, or $3.28 per share, up from $866 million, or $2.83 per share, in the year-earlier period. It reported adjusted earnings per share of $3.20, above the FactSet consensus of $2.80. It reported revenue of $7.19 billion, up from $6.68 billion in the year-earlier period and above the FactSet consensus of $6.07 billion. The earnings bump was largely driven by a positive benefit from the settlement of a reinsurance dispute and higher net investment income, which was partly offset by a lower underwriting gain, the company said in a statement. Shares of Travelers Companies were up less than 1% in premarket trade. Shares have gained 8% in the past three months, compared to the S&P 500's gain of 5%.

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