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Travelers Q4 Net Income Soars as Cat Losses Drop

Lower catastrophe losses helped send The Travelers Companies, Inc.s 2013 fourth-quarter net income soaring 225% to $988 million, compared to 2012 fourth-quarter net income of $304 million.

By Phil Gusman | Updated on January 21, 2014

Lower catastrophe losses helped send The Travelers Companies, Inc.’s 2013 fourth-quarter net income soaring 225% to $988 million, compared to 2012 fourth-quarter net income of $304 million.

Catastrophe losses, net of reinsurance, were $53 million in the quarter, compared to $1.05 billion in 2012’s fourth quarter. The sharp drop drove a reversal in underwriting results for Travelers—a gain of $689 million in 2013’s fourth quarter compared to an underwriting loss of $338 million for the same period the year before.  The combined ratio dropped in the quarter to 87.7 compared to 105.4 in 2012′s fourth quarter.

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