Exhibit 99.1

 

NYSE: TRV

 

 

Travelers Reports Record Fourth Quarter Net Income and Operating Income per Diluted Share of $3.28 and $3.20, Respectively, Up 16% and 10% from Prior Year Quarter

 

Fourth Quarter Net Income and Operating Income of $943 Million and $919 Million, Respectively, Up 9% and 4% from Prior Year Quarter

 

Fourth Quarter Return on Equity and Operating Return on Equity of 15.8% and 16.4%, Respectively

 

Full Year Net Income and Operating Income of $3.014 Billion and $2.967 Billion, Respectively, Down 12% and 14% from Prior Year

 

Full Year Return on Equity and Operating Return on Equity of 12.5% and 13.3%, Respectively

 

·             Fourth quarter consolidated combined ratio of 90.0% reflected strong performance in Business and International Insurance and Bond & Specialty Insurance and lower underwriting results in Personal Insurance due to auto.

 

·             Current quarter other income included an $82 million after-tax ($126 million pre-tax) benefit from a previously announced  settlement of a reinsurance dispute; the combined ratio did not benefit from this gain.

 

·             Fourth quarter net written premiums of $6.058 billion and full year net written premiums of $24.958 billion, both up 3% from the prior year periods.

 

·             Total capital returned to shareholders of $942 million in the quarter, including $751 million of share repurchases. Full year total capital returned to shareholders of $3.234 billion, including $2.472 billion of share repurchases.

 

·             Book value per share of $83.05 and adjusted book value per share of $80.44 increased 4% and 7%, respectively, from year-end 2015.

 

·             Board of Directors declared quarterly dividend per share of $0.67.

 

New York, January 24, 2017

— The Travelers Companies, Inc. today reported net income of $943 million, or $3.28 per diluted share, for the quarter ended December 31, 2016, compared to $866 million, or $2.83 per diluted share, in the prior year quarter. Operating income in the current quarter was $919 million, or $3.20 per diluted share, compared to $886 million, or $2.90 per diluted share, in the prior year quarter. These increases were primarily driven by the benefit from the settlement of a reinsurance dispute and higher net investment income, partially offset by a lower underwriting gain driven by higher catastrophe losses and higher loss estimates for personal auto bodily injury liability coverages. Per diluted share amounts benefited from the impact of share repurchases.

 

Consolidated Highlights

 

($ in millions, except for per share amounts, and after-tax,

 

Three Months Ended December 31,

 

Twelve Months Ended December 31,

 

except for premiums & revenues)

 

2016

 

2015

 

Change

 

2016

 

2015

 

Change

 

Net written premiums

 

$

6,058

 

$

5,864

 

3

%

$

24,958

 

$

24,121

 

3

%

Total revenues

 

$

7,193

 

$

6,678

 

8

 

$

27,625

 

$

26,815

 

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

943

 

$

866

 

9

 

$

3,014

 

$

3,439

 

(12

)

per diluted share

 

$

3.28

 

$

2.83

 

16

 

$

10.28

 

$

10.88

 

(6

)

Operating income

 

$

919

 

$

886

 

4

 

$

2,967

 

$

3,437

 

(14

)

per diluted share

 

$

3.20

 

$

2.90

 

10

 

$

10.12

 

$

10.87

 

(7

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted weighted average shares outstanding

 

285.1

 

303.3

 

(6

)

291.0

 

313.9

 

(7

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Combined ratio

 

90.0

%

86.6

%

3.4

pts

92.0

%

88.3

%

3.7

pts

Underlying combined ratio

 

92.0

%

90.7

%

1.3

pts

91.6

%

90.1

%

1.5

pts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Return on equity

 

15.8

%

14.5

%

1.3

pts

12.5

%

14.2

%

(1.7

)pts

Operating return on equity

 

16.4

%

15.8

%

0.6

pts

13.3

%

15.2

%

(1.9

)pts

 

 

 

As of December 31,

 

 

 

2016

 

2015

 

Change

 

Book value per share

 

$

83.05

 

$

79.75

 

4

%

Adjusted book value per share

 

80.44

 

75.39

 

7

%

 


The following information was filed by Travelers Companies, Inc. (TRV) on Tuesday, January 24, 2017 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.

View differences made from one year to another to evaluate Travelers Companies, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Travelers Companies, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account