The St. Paul Travelers Companies, Inc. today reported net income for the current quarter of $162 million, or $0.24 per basic share and $0.23 per diluted share, compared to net income of $340 million, or $0.51 per basic and $0.50 per diluted share, in the prior year quarter.
Catastrophe losses related to Hurricanes Katrina and Rita in the current quarter were $1.009 billion after-tax ($1.524 billion pre-tax), net of reinsurance and including $88 million after-tax ($119 million pre-tax) of reinstatement premiums. The prior year quarter included hurricane-related catastrophe losses of $402 million after-tax ($612 million pre-tax).
Operating income was $50 million for the quarter and $1.875 billion year-to-date. Excluding catastrophe losses, operating income of $1.059 billion for the quarter and $2.912 billion year-to-date.
Increases in gross and net written premiums were 2 and 1 percent, respectively, from the prior year quarter, excluding Commercial Other, the Company’s runoff operations. Excluding the impact of reinstatement premiums and Commercial Other, increase in net written premiums of 3 percent.
Net investment income increased 22 percent from the prior year quarter.
St. Paul Travelers is a leading provider of property casualty insurance based in St. Paul, Minn. For more information, visit www.stpaultravelers.com.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Florida, Louisiana Insurer Safepoint Reveals 97% Revenue Surge in IPO filing 
Ex-NFL Player Sentenced to 16 Years in Prison for $200M Medicare Fraud Scheme 
Progressive Insurance Helps First-Time Homebuyers With Down Payments 
New York State Has Budget Deal That Includes Auto Insurance Reforms: Gov. Hochul 
