Travelers reports Q1 core EPS $7.71, consensus $7.08

Reports Q1 revenue $11.92B, consensus $11.11B. “We are pleased to report an excellent first quarter with strong underwriting performance across all three segments and a strong result from our investment portfolio,” said Alan Schnitzer, Chairman and CEO. “Core income for the quarter was $1.7 billion, or $7.71 per diluted share. Core return on equity for the quarter was 19.7%, bringing core return on equity over the last four quarters to 22.7%, driven by excellent underlying fundamentals. The first quarter’s underwriting income of $1.2 billion pre-tax benefited from strong levels of underlying underwriting income and net favorable prior year development. Our high-quality investment portfolio generated after-tax net investment income of $833 million.”