ST. PAUL (dpa-AFX) - Travelers Companies, Inc. (TRV) Tuesday reported third-quarter earnings which increased, as the insurer saw a decline in catastrophe losses and a rise in investment income from private equity.
For the three months to September, net earnings were $919 million or $2.69 per share, up from $864 million or $2.30 per share a year earlier.
Excluding net realized investment gains, earnings totaled $893 million or $2.61 per share.
Analysts polled by Thomson-Reuters had a consensus earnings estimate of $2.27. Analysts' estimates typically exclude one-time items.
Revenues rose to $6.89 billion, from $6.45 billion a year earlier. Analysts expected revenues of $5.99 billion.
Net written premiums increased 6 percent to $6.03 billion, the company said.
Underlying combined ratio increased to 90.5 percent from 90 percent a year earlier.
The board recommended a $0.55 per share quarterly dividend, payable on December 31 to shareholders of record on December 10.
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