The Travelers Companies reported net income of $534 million for Q2 2024, compared to a net loss of $14 million in Q2 2023. The significant improvement was driven by higher underwriting margins, increased net investment income, and favorable prior year reserve development. Net written premiums grew 8% to $11.1 billion.Catastrophe losses remained elevated at $1.51 billion pre-tax, slightly higher than $1.48 billion in Q2 2023. The combined ratio improved to 100.2% from 106.5% last year. Net investment income rose 24% to $885 million, benefiting from higher fixed income yields and strong returns from non-fixed income investments.For the first half of 2024, Travelers posted net income of $1.66 billion, up 72% from $961 million in 2023. The company maintained a strong capital position with shareholders' equity of $24.86 billion. Management expressed confidence in the company's performance and competitive position despite ongoing challenges in the insurance market.

The Travelers Companies reported net income of $534 million for Q2 2024, compared to a net loss of $14 million in Q2 2023. The significant improvement was driven by higher underwriting margins, increased net investment income, and favorable prior year reserve development. Net written premiums grew 8% to $11.1 billion.Catastrophe losses remained elevated at $1.51 billion pre-tax, slightly higher than $1.48 billion in Q2 2023. The combined ratio improved to 100.2% from 106.5% last year. Net investment income rose 24% to $885 million, benefiting from higher fixed income yields and strong returns from non-fixed income investments.For the first half of 2024, Travelers posted net income of $1.66 billion, up 72% from $961 million in 2023. The company maintained a strong capital position with shareholders' equity of $24.86 billion. Management expressed confidence in the company's performance and competitive position despite ongoing challenges in the insurance market.