ザ・トラベラーズ　２Ｑ　2024/07/19

Positive Points
The Travelers Companies Inc (TRV, Financial) reported a strong bottom-line result with core income of $585 million or $2.51 per diluted share.
Record net earned premium of $10.2 billion and a consolidated underlying combined ratio improved to 87.7%.
Net written premiums grew by 8% to $11.1 billion, with growth in all three business segments.
After-tax net investment income increased by 22% from the prior year quarter to $727 million.
The company generated strong operating cash flows for the seventh consecutive quarter, exceeding $1 billion.

Negative Points
The second-quarter results included $1.5 billion pretax catastrophe losses due to a record number of severe convective storms.
The umbrella line required $250 million of reserve strengthening for accident years 2021 through 2023. The expense ratio for the second quarter was 28.8%, which is relatively high.
Retention in the select business unit ticked down to 83% due to efforts to optimize risk return profiles in certain geographies.
New business in personal insurance was down slightly, reflecting efforts to manage auto profitability and property actions in high-risk areas.

ティッカーシンボル	社名	業種	関連銘柄	トピックス	PER	配当利回り	ROE	PSR
TRV	The Travelers Companies, Inc.	損害保険会社	金融関連	自然災害による損失があったものの、好調な自動車保険でカバー（２Ｑ）	12.0倍	1.91％	2.55％	1.17倍