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Travelers Companies Q1 Profit Beats Estimates - Quick Facts

The Travelers Companies, Inc. (TRV) reported first-quarter core income of $755 million, or $2.83 per diluted share, compared to $678 million, or $2.46 per diluted share, in the prior year quarter. Core income increased primarily due to lower catastrophe losses and a higher underlying underwriting gain, partially offset by lower net favorable prior year reserve development. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $2.74 for the quarter. Analysts' estimates typically exclude special items.

First-quarter net written premiums improved 3% to $7.06 billion from prior year. Analysts expected revenue of $7.11 billion for the quarter. Total revenues were $7.67 billion, an increase of 5% from previous year.

"We are very pleased to report first quarter core income of $755 million, up 11% over the prior year quarter, and core return on equity of 13%. We delivered strong underwriting results as reflected in our combined ratio of 93.7%," said Alan Schnitzer, CEO.

The Board of Directors declared a quarterly dividend of $0.82 per share, an increase of 6.5%. The dividend is payable on June 28, 2019, to shareholders of record at the close of business on June 10, 2019.

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