Travelers Companies reported a net income of $801m, Q4 2008
The Travelers Companies, a provider of commercial and personal property and casualty insurance products and services, has reported a net income of $801 million, or $1.35 per diluted share, for the fourth quarter ended December 31, 2008, a decline of 25%, compared to $1.06 billion, or $1.64 per diluted share, for the fourth quarter ended December 31, 2007.
Operating income in the fourth quarter of 2008 was $939 million, or $1.58 per diluted share, compared to $1.06 billion, or $1.63 per diluted share, in the same quarter of 2007.
For the quarter, net written premiums were $5.38 billion, compared to $5.37 billion in the corresponding quarter of 2007. Net investment income of $438 million after tax represents a decline as compared to $696 million after tax in the same quarter of 2007.
Net income recorded for the year 2008 was $2.92 billion, or $4.82 per diluted share, a decrease of 36%, as compared to $4.60 billion, or $6.86 per diluted share, during the year 2007.
For the year, net written premiums were $21.68 billion, compared to $21.62 billion in the year 2007. For the year 2008, net investment income was $2.3 billion after tax, compared to $2.91 billion after tax in 2007.