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The Travelers Companies, Inc. Is De-Risking Cat-Prone Zones—Is This The Smartest Move For More Stable Earnings?

The Travelers Companies, Inc. reported strong third-quarter 2025 results, highlighting both positive and challenging aspects of its financial performance. The company posted core income of $1.9 billion, translating to $8.14 per diluted share, and an impressive core return on equity of 22.6%. These results were bolstered by robust underwriting performance and increased investment income. Underwriting income, pre-tax, reached $1.4 billion, more than doubling from the previous year, benefitted by lower catastrophe losses and improved underwriting outcomes across all its segments. Travelers’ investment portfolio also performed well, generating $850 million in after-tax net investment income, marking a 15% year-over-year increase. The company returned roughly $900 million to shareholders during the quarter, including $628 million in share repurchases.