Travelers Stock Jumps to Record High as Insurer's Profits Top Estimates

Group 1 - The Travelers Companies reported better-than-expected profits for the third quarter, leading to a record high in share price, closing at $264.82, a more than 7$1.26 billion, significantly surpassing analysts' estimates, driven by higher premiums and investment income [1][2] - Travelers' net written premiums reached a record level of $11.3 billion, an 8$939 million, up from $850 million the previous year, primarily due to Hurricane Helene and severe storms [2] - The consolidated combined ratio improved to 93.2%, a 7.8 percentage point enhancement from the previous year, indicating an underwriting profit [3] - Travelers' shares have increased approximately 39% year-to-date in 2024, outperforming the S&P 500's nearly 23% gain [3]