UPDATE: Travelers Q3 Profit Beats Street View

The Travelers Companies

reported upbeat results for the third quarter. The New York-based company posted quarterly earnings of $919 million, or $2.69 per share, compared to $864 million, or $2.30 per share, in the year-ago quarter. Its revenue climbed 7% to $6.89 billion, while net written premiums rose 6% to $6.03 billion. However, analysts were expecting earnings of $2.27 per share on revenue of $5.99 billion. Its operating income increased to $893 million from $883 million. Net written premiums rose 6% to $6.033 billion. Travelers repurchased 8.1 million shares during the quarter at a total cost of $751 million. The company's board declared a quarterly dividend today of $0.55 per share. Jay Fishman, Chairman and Chief Executive Officer said, “Our results were driven by strong underwriting performance across all of our business segments, as reflected in our consolidated combined ratio of 90.0%, and higher investment returns driven by private equity performance.” Travelers shares rose 1.88% to $94.99 in pre-market trading.