Travelers Companies (NYSE: TRV) unveiled its first-quarter financial results prior to the trading day.
Although the company’s earnings dipped, there was year-over-year revenue growth.
For the first quarter, the company reported Core income of $1.91 per share, surpassing the expected profit of $0.80.
Additionally, first-quarter revenues reached $11.81 billion, surpassing analysts’ forecast of $10.82 billion.
Earnings saw a 59.3 percent decline in the quarter, while revenue saw a 5.2 percent year-over-year increase.
The company noted that the quarterly core income decreased primarily due to higher catastrophe losses, partially offset by a higher underlying underwriting gain, higher net favorable prior year reserve development and higher net investment income.
