g34651mo25i001b12.gifExhibit 99.1
The Travelers Companies, Inc.
485 Lexington Avenue
New York, NY 10017-2630
www.travelers.com
NYSE: TRV

Travelers Reports Third Quarter 2019 Net Income per Diluted Share of $1.50
and Return on Equity of 6.2%

Third Quarter 2019 Core Income per Diluted Share of $1.43 and Core Return on Equity of 6.5%

Third quarter net income of $396 million and core income of $378 million.
Increasingly challenging tort environment impacted results.
Consolidated combined ratio of 101.5%; underlying combined ratio of 94.1%.
Record net written premiums of $7.569 billion, up 7%, reflecting growth in all segments.
Renewal premium change in Business Insurance of 7.4% at highest level since 2014.
Total capital returned to shareholders of $590 million, including $375 million of share repurchases. Year-to-date total capital returned to shareholders of $1.808 billion, including $1.172 billion of share repurchases.
Book value per share of $99.21, up 14% from year-end 2018. Adjusted book value per share of $90.09, up 3% from year-end 2018.
Board of Directors declared quarterly dividend per share of $0.82.

New York, October 22, 2019 — The Travelers Companies, Inc. today reported net income of $396 million, or $1.50 per diluted share, for the quarter ended September 30, 2019, compared to $709 million, or $2.62 per diluted share, in the prior year quarter. Core income in the current quarter was $378 million, or $1.43 per diluted share, compared to $687 million, or $2.54 per diluted share, in the prior year quarter. Core income decreased primarily due to net unfavorable prior year reserve development in the current quarter, including the impact of an increasingly challenging tort environment. Net realized investment gains were $23 million pre-tax ($18 million after-tax), compared to $29 million pre-tax ($22 million after-tax) in the prior year quarter. Per diluted share amounts benefited from the impact of share repurchases.

Consolidated Highlights
($ in millions, except for per share amounts, and after-tax, except for premiums and revenues)
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2019
 
2018
 
Change
 
2019
 
2018
 
Change
 
Net written premiums
 
$
7,569

 
$
7,062

 
7
 %
 
$
22,076

 
$
21,017

 
5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total revenues
 
$
8,013

 
$
7,723

 
4

 
$
23,518

 
$
22,486

 
5

 
Net income
 
$
396

 
$
709

 
(44
)
 
$
1,749

 
$
1,902

 
(8
)
 
per diluted share
 
$
1.50

 
$
2.62

 
(43
)
 
$
6.59

 
$
6.97

 
(5
)
 
Core income
 
$
378

 
$
687

 
(45
)
 
$
1,670

 
$
1,859

 
(10
)
 
per diluted share
 
$
1.43

 
$
2.54

 
(44
)
 
$
6.29

 
$
6.81

 
(8
)
 
Diluted weighted average shares outstanding
 
261.8

 
268.4

 
(2
)
 
263.4

 
271.1

 
(3
)
 
Combined ratio
 
101.5
%
 
96.6
%
 
4.9

pts
97.9
%
 
96.8
%
 
1.1

pts
Underlying combined ratio
 
94.1
%
 
93.0
%
 
1.1

pts
93.5
%
 
93.0
%
 
0.5

pts
Return on equity
 
6.2
%
 
12.6
%
 
(6.4
)
pts
9.5
%
 
11.1
%
 
(1.6
)
pts
Core return on equity
 
6.5
%
 
12.0
%
 
(5.5
)
pts
9.6
%
 
10.9
%
 
(1.3
)
pts
 
 
As of
 
Change From
 
 
September 30,
2019
 
December 31,
2018
 
September 30,
2018
 
December 31,
2018
 
September 30,
2018
Book value per share
 
$
99.21

 
$
86.84

 
$
84.82

 
14
%
 
17
%
Adjusted book value per share
 
90.09

 
87.27

 
86.51

 
3
%
 
4
%

See Glossary of Financial Measures for definitions and the statistical supplement for additional financial data.

1

The following information was filed by Travelers Companies, Inc. (TRV) on Tuesday, October 22, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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