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The Travelers Companies, Inc. (TRV) has reported 8.89 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $943 million, or $3.28 a share in the quarter, compared with $866 million, or $2.83 a share for the same period last year.
Revenue during the quarter grew 7.71 percent to $7,193 million from $6,678 million in the previous year period. Net premium earned for the quarter increased 4.22 percent or $254 million to $6,277 million.
Total expenses move up
Benefits, losses and expenses for the quarter were at $5,891 million, or 93.85 percent of premium earned from $5,469 million or 90.80 percent of premium earned in the last year period. Operating income for the quarter was $1,302 million, compared with $1,209 million in the previous year period.
Net investment income was at $627 million for the quarter, up 15.90 percent or $86 million from year-ago period. Meanwhile, income from fees and commission for the quarter declined 7.83 percent or $9 million to $106 million. The company has recorded a gain on investments of $35 million in the quarter compared with a loss of $32 million for the previous year period.
"With our proven commitment to building meaningful and sustainable competitive advantages, our track record of successfully managing our businesses for the long term and our active capital management strategy, we remain well positioned to continue to deliver superior returns over time." said Alan Schnitzer, chief executive officer.
Operating cash flow improves
The Travelers Companies, Inc. has generated cash of $4,202 million from operating activities during the year, up 22.36 percent or $768 million, when compared with the last year.
The company has spent $1,460 million cash to meet investing activities during the year as against cash inflow of $317 million in the last year.
The company has spent $2,806 million cash to carry out financing activities during the year as against cash outgo of $3,733 million in the last year period.
Cash and cash equivalents stood at $307 million as on Dec. 31, 2016, down 19.21 percent or $73 million from $380 million on Dec. 31, 2015.
Liabilities outpace assets growth
Total assets were almost stable over the past one year at $100,245 million on Dec. 31, 2016. On the other hand, total liabilities were at $77,024 million as on Dec. 31, 2016, up 0.57 percent or $438 million from year-ago.
Return on assets stood at 1.03 percent in the quarter, up 0.07 from 0.96 percent in the last year period. At the same time, return on equity was at 4.06 percent in the quarter, up 0.39 from 3.67 percent in the last year period.
Investments remain almost stable
Investments were almost stable over the past one year at $70,488 million on Dec. 31, 2016. Meanwhile, yield on investments went up 12 basis points to 0.89 percent in the quarter.
Meanwhile, reinsurance recoverables moved down 6.99 percent or $623 million over the year to $8,287 million on Dec. 31, 2016.
Total debt was at $6,437 million as on Dec. 31, 2016, up 1.47 percent or $93 million from year-ago. Shareholders equity stood at $23,221 million as on Dec. 31, 2016, down 1.60 percent or $377 million from year-ago. As a result, debt to equity ratio went up 1 basis points to 0.28 percent in the quarter from 0.27 percent in the last year period.
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