Travelers Q3 Net Income Soars 50% on Lower Catastrophe Losses

Third quarter net income at The Travelers Cos. increased 50% compared with the same period a year ago, to about $1.9 billion on lower catastrophe losses.

Catastrophe losses for the third quarter this year were $402 million pretax, compared with $939 million a year ago.

The combined ratio for the New York-based insurer improved nearly 6 points to 87.3 for the third quarter. Underwriting income of about $1.4 billion more than doubled compared to the prior year quarter. Favorable prior year reserve development fell to $22 million from $126 million a year ago during Q3.

For the nine months of 2025, net income is up 30% to about $3.8 billion. The combined ratio for the insurer as of the Sept. 30 stood at 93.2, a 2.5-point improvement.

For Q3, total net premiums were up 1% to about $11.5 billion. Travelers’ business insurance segment grew net premiums 3% to about $5.7 billion, led by domestic growth. Underwriting income was $392 million for Q3 2025 compared with $219 a year ago.

Within the segment, middle-market and Select Accounts small business grew 7% and 4%, respectively. The Q3 combined ratio for business insurance was 92.9 compared with 95.8 for Q3 2024.

In personal lines, underwriting income for Q3 went up more than $500 million to nearly $800 million. Catastrophe losses net of reinsurance were $263 million compared with $595 million a year ago. The Q3 combined ratio improved 11.2 points to finish at 81.3. Domestic net premiums were about flat compared to a year ago at $4.55 billion. There was 3% growth in Travelers’ homeowners business.

Topics Catastrophe Profit Loss