The Travelers Companies posted net income of $2.5bn for the fourth quarter of 2025 (Q4 2025), a 20% increase from $2.08bn in Q4 2024.  

Revenue for Q4 stood at $12.4bn, up 4% year-on-year.  

Core income reached $2.5bn, a rise of 18%, while core income per diluted share was reported at $11.13, up 22%.  

The insurer attributed the growth to underwriting gains, reduced catastrophe losses and “favourable” prior-year reserve development.

Travelers reported underwriting gains of around $2.17bn in the three months to December 2025, compared with $1.79bn a year ago.  

Net favourable reserves reduced to $321m from $262m, while catastrophe losses decreased to $95m. 

Net investment income came to $1.05bn pre-tax ($867m after-tax), a 10% increase.  

This was primarily linked to growth in average invested assets and higher average yields in its long-term fixed income portfolio. 

The insurers’ net written premiums were almost unchanged at $10.9bn, edging up by 1%. 

In terms of business segments, Business Insurance generated after-tax income of $1.29bn for the quarter, an increase of $104m.  

Bond & Specialty Insurance recorded segment income of $236m after-tax, up by $8m, while Personal Insurance posted after-tax income of $1.09bn, up by $288m. 

For the full year 2025, Travelers’ net income reached $6.29bn, up 26% from around $5bn in 2024.  

Total revenue for the year climbed 5% to $48.83bn, while core income was also up 26% to $6.32bn. 

Net written premiums rose by 2% to $44.39bn. 

Travelers’ board declared a regular quarterly dividend of $1.10 per share, payable on 31 March 2026, to shareholders on record as of 10 March 2026.  

The board also approved a further $5bn in share repurchase authorisations, in addition to the $2.01bn remaining from previous buyback approvals as of 31 December 2025. 

Travelers chairman and CEO Alan Schnitzer said: “We are pleased to report excellent fourth-quarter and full-year results driven by strong performance across both underwriting and investments. 

“Our results this year and over time reflect the power of our earnings engine fuelled by the disciplined execution of our strategy across every dimension of our business.”

Earlier this month, Definity Financial finalised its acquisition of Travelers’ personal insurance and most of its commercial insurance businesses in Canada for nearly C$3.3bn ($2.3bn) in cash. The transaction did not include the surety segment.