Travelers Beats Q3 Estimates on Strong Underwriting, Investment Gains

Travelers Companies reported third-quarter earnings that exceeded Wall Street expectations, driven by higher underwriting gains and increased investment income. Catastrophe losses totaled more than $930 million. However, Travelers' underlying combined ratio improved to nearly 85%, reflecting better profitability in its core operations. Despite significant catastrophe losses from hurricanes and severe storms, Travelers' shares rose nearly 7%.