Primary insurance group Travelers has reported a net income of $404m in the third quarter of 2023, driven by investment income growth, despite seeing an underwriting loss of $136m, as a result of higher catastrophes losses of $850m for the period.
The insurer’s net income in Q3, lower due to core income, compares to the $454mn reported in the same period last year, and was partially offset by lower net realised investment losses. Core income in the current quarter was $454mn, down from Q3 2022’s $526mn.
