The Travelers Cos. nudged net income slightly higher, the combined ratio dipped a healthy amount and net written premiums reached record levels during the 2015 third quarter.
Investors were pleased, driving Travelers’ share price up to $108.95 in late afternoon trading on October 20—a gain of nearly 2.5 percent.
Travelers Chairman and CEO Jay Fishman noted in prepared remarks that the 86.9 combined ratio for Q3 “reflected very strong performance across all of our business segments.”
Net income for the quarter reached $928 million, or $2.97 per diluted share, a 1 percent gain over the $919 million, or $2.69 per diluted share produced in the 2014 third quarter. Net written premiums nearly hit $6.2 billion, up 3 percent from $6 billion over the same period last year.
Travelers said its combined ratio landed at 86.9 compared to 90 in Q3 2014.
One blip: Net investment income dropped to $614 million versus $719 million in the same year-ago period. The drop stemmed from lower returns in both non-fixed-income and fixed-income portfolios.
Travelers returned $939 million to shareholders during the quarter, including $750 million in share repurchases. So far this year, shareholders have gotten nearly $2.8 billion back, including more than $2.2 billion of share repurchases.