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The Travelers Companies, Inc.
485 Lexington Avenue
New York, NY 10017-2630
Travelers Reports Record Fourth Quarter 2009 Net Income of $1.285 Billion and Record Net and Operating Income per Diluted Share of $2.36 and $2.12, Respectively
Book Value per Share of $52.54 Up 22% in 2009
Fourth Quarter Return on Equity of 18.5% and Full Year Return on Equity of 13.5%
· Fourth quarter 2009 net and operating income of $1.285 billion and $1.155 billion. Full year 2009 net and operating income of $3.622 billion and $3.600 billion.
· Fourth quarter 2009 net and operating income per diluted share increased 75 percent and 34 percent, respectively, from prior year quarter.
· Fourth quarter 2009 total revenues of $6.456 billion increased 11 percent from the prior year quarter.
· Impact of renewal rate changes on premiums remained positive across all three business segments.
· Four percent decline in net written premiums from prior year quarter attributable to reduced insured exposures due to lower levels of economic activity.
· Repurchased 30.1 million common shares for $1.55 billion in fourth quarter and 69.4 million common shares for $3.30 billion in full year 2009.
NEW YORK, January 26, 2010 The Travelers Companies, Inc. (Travelers, NYSE: TRV) today reported net income of $1.285 billion, or $2.36 per diluted share, for the quarter ended December 31, 2009, compared to $801 million, or $1.35 per diluted share, for the quarter ended December 31, 2008. Operating income in the current quarter was $1.155 billion, or $2.12 per diluted share, compared to $939 million, or $1.58 per diluted share, in the prior year quarter.
We are very pleased to report our best quarter for net income as well as net and operating income per diluted share since Travelers initial public offering in 2002, commented Jay Fishman, Chairman and Chief Executive Officer. Our operating return on equity was 18.0% for the quarter and 14.0% for the year, keeping us on track to continue to meet our long-term return target. Throughout the year our underwriting results were strong and our high quality investment portfolio continued to perform well. Finally, we continued to return capital aggressively in the quarter bringing our total repurchases to $9.5 billion and 193.2 million shares since we commenced our repurchase program in the
The following information was filed by Travelers Companies, Inc. (TRV) on Tuesday, January 26, 2010 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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