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The Travelers Companies, Inc. (symbol: TRV) is a cornerstone of the insurance industry, committed to evolving with the dynamic needs of its customers. With over 150 years of experience, Travelers has become one of the largest property casualty insurers in the United States. As a proud component of the Dow Jones Industrial Average, the company boasts a workforce of more than 30,000 employees and collaborates with 13,000 independent agents.
Travelers offers a wide array of insurance products, catering to both commercial and personal lines. Its commercial operations provide comprehensive coverage options for businesses of all sizes, with a focus on midsize companies. On the personal side, the insurance offerings are split evenly between auto and homeowners coverage. Notably, the company extends its reach globally, deriving 6% of its premiums from international markets.
Travelers is well-known for its pioneering spirit and continuous innovation. From the creation of the first auto and space travel policies to the introduction of hybrid car discounts, the company has consistently set new standards in the industry. In 2009, Travelers established the Travelers Institute for Public Policy, further cementing its role as a leader and innovator in insurance.
Despite the uncertain global landscape, Travelers remains steadfast in its commitment to protecting clients from loss through its adaptive and proactive approach. The company's recent achievements and ongoing projects reflect this philosophy, ensuring they stay ahead of industry trends and customer needs. Whether you are looking for detailed coverage options or insights into industry developments, Travelers stands as a reliable and forward-thinking partner.
The Travelers Companies reported a record fourth quarter 2021 with net income of $1.333 billion or $5.37 per diluted share, a 2% increase from Q4 2020. Core income rose by 2% to $1.289 billion, driven by higher investment income and underwriting gains. For the full year, net income reached $3.662 billion, up 36%, and core income increased by 31% to $3.522 billion. The company achieved a combined ratio of 88.0% for Q4 and returned $1.017 billion to shareholders, including $801 million in share buybacks. Book value per share also grew by 4%, reflecting robust financial performance.
The Travelers Companies, Inc. (NYSE: TRV) has launched IntelliDrivePlus™, an advanced telematics auto insurance program, enhancing personalized coverage by assessing driving behaviors and mileage over the policy's life. This initiative follows the 50% growth of its predecessor, IntelliDrive®, in the last year, indicating increasing customer acceptance of behavior-based pricing. IntelliDrivePlus™ is currently available in Arkansas, Nebraska, and Ohio, marking a significant expansion of Travelers' auto insurance offerings.
The Travelers Institute announced its January to March 2022 webinar schedule under the series Wednesdays with Woodward. These sessions will feature experts discussing crucial issues for individuals and businesses, including negotiation strategies, insurance market trends, and geopolitical risks. The first webinar, scheduled for January 12, focuses on negotiation tactics with Dr. Victoria Medvec, while subsequent sessions will cover topics from insurance industry success to renewable energy growth. The series aims to inform and engage professionals amidst evolving market dynamics.
The Travelers Companies, Inc. (NYSE: TRV) will present its fourth quarter and full year results on January 20 at 9 a.m. ET. The results will be available via webcast on investor.travelers.com or by phone at 844-895-1976 in the U.S. and 647-689-5389 internationally. Post-event, replays will be accessible for one year online and for 30 days via phone. Travelers is a major property casualty insurance provider with $32 billion in revenues for 2020, employing around 30,000 people.
The Travelers Institute has announced the conclusion of its 2021 virtual event season, featuring programs focused on political and economic trends. Upcoming webinars include discussions with esteemed speakers like CNBC's Sue Herera and experts from Goldman Sachs. Key topics will cover cybersecurity, economic outlook for 2022, and the implications of the $1 trillion infrastructure deal for the U.S. economy. All events are free and open to the public, with online registration available on the Travelers Institute website.
AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and Long-Term Issuer Credit Ratings (ICR) of 'aa+' (Superior) for The Travelers Companies, Inc. (TRV) and its subsidiaries. The outlook for these ratings remains stable, reflecting the group's strong balance sheet strength, very strong operating performance, and favorable business profile. Travelers is among the top five commercial lines insurers in the U.S. and ranks as the sixth-largest property/casualty writer. The ratings also affirm support from its parent company, TRV.
The Travelers Institute will host a webinar on November 3, focusing on the opioid crisis during the pandemic. The session aims to discuss substance use disorders, chronic pain management, and strategies to improve health outcomes for families and communities. Rich Ives from Travelers will highlight their success in reducing opioid use among insured employees by approximately 80% since 2015. This event, part of the Wednesdays with Woodward® series, is free and open to the public.
The Travelers Companies reported third-quarter 2021 net income of $662 million, or $2.62 per diluted share, down from $827 million in Q3 2020. Core income decreased to $655 million, reflecting higher catastrophe losses of $501 million and unfavorable reserve development. Nonetheless, record net written premiums rose 7% to $8.324 billion. The company returned $821 million to shareholders, including $601 million in share repurchases. The board declared a quarterly dividend of $0.88 per share.
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