| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 11.9K | 1.0% |
| Total Income | 11.9K | 1.0% |
| Expenditure | 9.8K | 13.6% |
| PBT | 2.1K | 352.8% |
| Net Profit | 1.7K | 333.2% |
| OPM | — | |
| NPM | 14.35% | 11.00pp |
| EPS | 7.89 | 356.1% |
Travelers Reports Excellent Q1 2026 Results: Net Income per Share $7.78
27 Apr 2026 · 27 Apr, 12:10 pm
Summary
The Travelers Companies reported net income of $1.711 billion, or $7.78 per diluted share, for the quarter ended March 31, 2026. Core income for the quarter was $1.696 billion, or $7.71 per diluted share. The increase in core income was primarily due to lower catastrophe losses and higher net investment income. The company's Board of Directors declared a 14% increase in the quarterly cash dividend to $1.25 per share.
Key Highlights
- 1
The Travelers Companies reported a very strong first quarter with net income of $1.711 billion and core income of $1.696 billion.
- 2
First quarter net income per diluted share reached $7.78, and core income per diluted share was $7.71.
- 3
The company's consolidated combined ratio was excellent at 88.6%, with an underlying combined ratio of 85.3%.
- 4
Net investment income increased by 9% to $833 million after-tax.
- 5
The Board of Directors declared a 14% increase in the regular quarterly cash dividend to $1.25 per share.
- 6
Net written premiums totaled $10.338 billion for the quarter.
- 7
Total capital of $2.223 billion was returned to shareholders, including $1.985 billion in share repurchases.
Management Comments
Alan Schnitzer
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. 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.
Alan Schnitzer
These results, along with our exceptionally strong balance sheet, enabled us to return more than $2.2 billion of excess capital to our shareholders during the quarter, including $2.0 billion of share repurchases. In recognition of our very strong financial position and confidence in the outlook for our business, I am pleased to share that our Board of Directors declared a 14% increase in our quarterly cash dividend to $1.25 per share, marking 22 consecutive years of dividend increases with a compound annual growth rate of 8% over that period.
Alan Schnitzer
We are off to an excellent start for 2026. Over time and across a wide range of conditions, we have consistently delivered growth at industry-leading returns with low volatility. That performance reflects the strength of our capabilities across both sides of the balance sheet and a focus on creating shareholder value. We are confident that the advantages we have built will continue to drive strong results and extend our record of outperformance.
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