The earnings call reflected a strong financial performance in 2024, with record core income, improved combined ratios, and significant premium growth across all segments. However, the anticipated impact of the California wildfires introduces uncertainty for the upcoming quarter.

Company Guidance

During the Travelers earnings call for Q4 2024, the company reported a significant increase in core income for the full year, reaching over $5 billion, or $21.58 per diluted share, which represents a 64% year-over-year growth, and generating a core return on equity of 17.2%. The quarter's core income was $2.1 billion, marking a record for the company. Net earned premiums increased by 9% to $10.9 billion, and the combined ratio improved by 2.6 points to 83.2%, driven by strong underwriting profitability and favorable prior year reserve development. The Business Insurance segment's combined ratio improved by over 1 point to 85.2%, while the Bond & Specialty business and Personal Insurance reported combined ratios of 82.7% and 80.7%, respectively. Net investment income for the full year rose 21% to $3 billion, contributing to a 13% increase in adjusted book value per share, which reached $139.4. The company also highlighted robust growth in net written premiums, which rose 8% to more than $43 billion for the year, with notable performance in Business Insurance and Bond & Specialty segments.

Record Core Income and Return on Equity

Core income for the full year increased 64% to more than $5 billion, with a core return on equity of 17.2%.

Improved Combined Ratios Across Segments

The combined ratio improved by 2.6 points to 83.2%, driven by strong underlying profitability and favorable prior-year reserve development.

Significant Premium Growth

Net earned premiums increased by 9% to $10.9 billion in Q4, with net written premiums growing by 8% for the year to over $43 billion.

Strong Investment Income

After-tax net investment income for the full year was up 21%, totaling $3 billion.

Growth in Business Insurance

Net written premiums in Business Insurance grew by 8% in the quarter to $5.4 billion, with a renewal premium change of 9.6%.

Bond & Specialty Insurance Success

Net written premiums grew by 7%, and the segment delivered a combined ratio of 82.7%.

Record Personal Insurance Performance

Personal Insurance delivered segment income of $798 million with a combined ratio of 80.7%.

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Travelers Companies (TRV) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TRV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 19, 2018	2018 (Q2)	- / 1.81	1.92	-5.73% (-0.11)	―	―
Oct 18, 2018	2018 (Q3)	- / 2.54	0.91	179.12% (+1.63)	―	―
Jan 22, 2019	2018 (Q4)	- / 2.13	1.51	41.06% (+0.62)	―	―
Apr 18, 2019	2019 (Q1)	- / 2.83	2.46	15.04% (+0.37)	―	―
Jul 23, 2019	2019 (Q2)	- / 2.02	1.81	11.60% (+0.21)	―	―
Oct 22, 2019	2019 (Q3)	- / 1.43	2.54	-43.70% (-1.11)	―	―
Jan 23, 2020	2019 (Q4)	- / 3.32	2.13	55.87% (+1.19)	―	―
Apr 21, 2020	2020 (Q1)	- / 2.62	2.83	-7.42% (-0.21)	―	―
Jul 23, 2020	2020 (Q2)	- / -0.20	2.02	-109.90% (-2.22)	―	―
Oct 20, 2020	2020 (Q3)	- / 3.12	1.43	118.18% (+1.69)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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TRV Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 22, 2025	$239.16	$246.72	+3.16%
Oct 17, 2024	$241.94	$263.72	+9.00%
Jul 19, 2024	$218.72	$201.75	-7.76%
Apr 17, 2024	$220.13	$203.81	-7.41%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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