Insurance service provider The Travelers Companies, Inc. (NYSE: TRV) Wednesday reported an increase in revenues and earnings for the first quarter of 2024.
- First-quarter 2024 net income, on a per-share basis, increased 16% year-over-year to $4.80
- On an adjusted basis, the core net income was $4.69 per share in the March quarter, up 14% year-over-year
- Net income and core income grew in double-digits to $1.123 billion and $1.096 billion, respectively
- Total revenues increased 16% annually to $11.23 billion in Q1 from $9.7 billion in the prior-year period
- Q1 net written premiums were $10.182 billion, up 8% compared to the prior year quarter, with growth in all three segments
- The company returned a total of $620 million to shareholders during the quarter, including $388 million of share repurchases
- Book value per share was $109.28 at the end of the quarter, up 9% over March 31, 2023; adjusted book value per share rose to $125.53
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