Travelers' Q2 Earnings Beat Expectations With Strong Core Income
Travelers' Q2 Earnings Beat Expectations With Strong Core Income
The Travelers Companies (NYSE:TRV) shares are trading higher on Friday after the company reported Q2 revenue growth of 12% Y/Y to $11.283 billion, missing the consensus of $11.341 billion.
旅行者財產險集團（NYSE：TRV）的股票在週五交易期間上漲，公司報告顯示2021年第二季度營業收入同比增長12％至112.83億美元，未達到113.41億美元的共識。
Core income per share reached $2.51, up from 6 cents a year ago, beating the $1.98 consensus forecast.
每股核心收益爲2.51美元，比去年同期的6美分增長，超過了1.98美元的共識預測。
Core income increased mainly due to improved underwriting gains, better reserve development, and higher net investment income, partially offset by higher catastrophe losses.
核心收益主要增長源於優化承保收益、更好的儲備發展和更高的淨投資收入，部分抵消了較高的災難損失。
For the second quarter, net written premiums increased by 8% Y/Y to $11.12 billion.
第二季度淨保費收入同比增長8％至111.2億美元。
In Business Insurance, net written premiums rose 7% to $5.5 billion, with a 10.1% increase in renewal premiums, 85% retention, and record new business of $732 million.
在業務保險方面，淨保費收入增長7％至55億美元，續保保費增長10.1％，保留率85％，新業務保費創紀錄，達到73200萬美元。
Bond & Specialty Insurance premiums grew 8% to over $1 billion, featuring 90% retention in management liability and an 11% increase in surety premiums.
債券與專業保險保費增長8％至超過10億美元，管理責任險保留率達到90％，按金保費增長11％。
Personal Insurance saw a 9% boost in net written premiums, driven by 10% growth in Auto and 8% in Home.
個人保險淨保費收入增長9％，其中車險和房屋險分別增長10％和8％。
Net realized investment losses stood at $65 million pre-tax ($51 million after-tax), up from $35 million pre-tax ($29 million after-tax) in the same quarter last year.
淨實現投資虧損達到6500萬美元的稅前（稅後5100萬美元），去年同期爲3500萬美元的稅前（稅後2900萬美元）。
Catastrophe losses were mainly due to severe wind and hail storms across several states.
災害損失主要是由於數個州遭受嚴重的風暴和冰雹。
Underlying combined ratio improved 3.4 points Y/Y to 87.7% in the quarter. The lower the ratio, the more profitable the insurance company, and vice versa.
底層綜合損失率從上一年的91.1％降至87.7％，下降3.4個百分點。綜合損失率越低，保險公司越賺錢，反之亦然。
The quarterly net investment income increased 24% Y/Y to $885 million pre-tax ($727 million after-tax). Income from the fixed-income portfolio rose from the previous year due to higher average yields and increased fixed-maturity investments.
季度淨投資收入同比增長24％至8850萬美元稅前（稅後7270萬美元）。由於收益率平均水平更高和固定到期投資增加，固定收益組合的收益從去年同期上升。
Dividend: The Board declared a quarterly dividend per share of $1.05, payable on Sept. 30, 2024, to shareholders of record as of Sept. 10, 2024.
股息：董事會宣佈，每股股息爲1.05美元，將於2024年9月30日支付給截至2024年9月10日的股東。
Alan Schnitzer, chairman and chief executive officer said, "Our results for the first half of the year include strong premium growth, excellent underlying underwriting profitability, record operating cash flow and steadily rising investment returns in our growing fixed income portfolio."
公司主席兼首席執行官阿蘭·施內澤（Alan Schnitzer）表示：“本年度上半年的業績包括強勁的保費增長、優秀的底層承保盈利能力、創紀錄的營運現金流和日益增長的固定收益組合投資回報。”
Travelers Companies stock gained around 29% in the last 12 months. Investors can gain exposure to the stock via Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) and IShares U.S. Insurance ETF (NYSE:IAK).
在過去的12個月中，旅行者公司的股票上漲約29％。投資者可以通過Invesco KBW財產與財產險ETF（納斯達克：KBWP）和iShares美國保險ETF（紐交所：IAK）獲得該股票的受益。
Price Action: TRV shares are down 3.10% at $213.66 during early morning trading Friday.
價格行動：星期五早上交易中，TRV股票下跌3.10％至213.66美元。
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譯文內容由第三人軟體翻譯。