(CercleFinance.com) – The American insurer Travelers published on Friday a quarterly profit almost doubled over a year, thanks to the rise in premiums and the good results of its investments.
The New York group posted record fourth-quarter net profit of more than $1.6 billion, or $6.99 per share, compared to $819 million ($3.44 per share) in the corresponding period of 2022. .
For comparison, the consensus was around $5.10.
Net premiums written increased 13% to $9.99 billion in the quarter, while natural catastrophe losses declined. The result from investments increased by 24%.
The combined ratio, which compares premiums collected in relation to reimbursements paid, increased by 1.4 points to 97% while remaining below the threshold of 100%, demonstrating the profitability of its activities.
Overall revenue increased 13% to $10.93 billion.
Travelers stock, one of the 30 stocks making up the Dow Jones index, gained more than 4% in pre-market trading after all these announcements.
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