Travelers Stock Sinks After It Misses Revenue and Premiums Estimates

Core Insights - The Travelers Companies reported a 12% increase in quarterly revenue to $11.28 billion, but this was below forecasts [1] - Net written premiums rose 8% to a record $11.12 billion, also falling short of estimates [1] - Adjusted profit was reported at $2.51 per share, exceeding expectations [1] Financial Performance - Core income surged to $585 million from $15 million year-over-year, driven by higher underwriting gains, favorable prior year reserve development, and increased net investment income [2] - Catastrophe losses increased to $1.51 billion from $1.48 billion, attributed to severe convective storms [3] - Investment losses rose to $65 million from $35 million [3] Market Reaction - Shares of The Travelers Companies fell nearly 7% to $205.77 during intraday trading, despite being up approximately 8% in 2024 [3]