Travelers

The carrier purchased an additional $150mn of cover.

The firm strengthened GL reserves by $250mn, for AY 2021-2023.

The carrier’s underlying combined ratio improved 3.4 points year on year to 87.7%.

Changes in investment strategy and strong results show carriers can weather financial storms.

Downward trends of DCC ratios are beginning to reverse, which could cause issues for long-tailed lines.

Corrective actions revealed by Travelers in the first-quarter earnings could set the stage for similar moves from peers

The insurer is currently transitioning Corvus' ‘profitable’ $200mn book of business.

Underlying improvement was driven by a decrease in the personal lines core CoR.

SEC filings show that Travelers’ equity ownership was valued at over $107mn in Q4.

Commercial carrier earnings continue to show mixed prior-year development.

The percentage of cases that could lead to higher losses increased in 2023.

Shares rose to over $213 at one point – from their previous close of $198.35 – after this morning’s Q4 results, which included an 8.7 point combined ratio (CoR) improvement driven by a rebound in personal lines.