Reported 1 day ago
Travelers, a leading property and casualty insurer, surpassed Wall Street's profit expectations for the fourth quarter due to robust performance in its underwriting division, despite facing significant catastrophe losses from wildfires and hurricanes. The company's net written premiums rose to $10.74 billion, marking a record annual total of $43.36 billion, as demand for insurance continues to grow, allowing them to maintain customer relationships even amid rising policy costs. Analysts warn that the California wildfires could lead to substantial impacts on first-quarter earnings.
Source: YAHOO