Travelers Property Casualty Corp (TRV, Financial) saw its stock rise significantly, reaching a historic peak with a gain of 7.74% to $261.75. This jump came after the company reported impressive third-quarter earnings that exceeded market expectations.
The insurance giant posted earnings of $5.24 per share, surpassing the anticipated $3.66. A significant highlight was the record net written premiums, a crucial measure for insurance companies representing cash from policies written during the period, which hit an all-time high of $10.7 billion for the quarter.
Travelers' CEO expressed confidence in the company's robust profit margins and consistent premium growth, underscoring the strong value of their franchise. The CEO also conveyed optimism about the business outlook beyond 2025, driven by current momentum.
