The Travelers Companies, a US-based provider of property casualty insurance for auto, home and business, has reported a net income of $670m, or $1.35 per diluted share, for the quarter ended June 30, 2010, compared to $740m, or $1.27 per diluted share, for the quarter ended June 30, 2009.
Operating income in the second quarter was $690m, or $1.39 per diluted share, compared to $732m, or $1.25 per diluted share, in the prior year quarter.
Net written premiums for the second quarter of 2010 increased 1% to $5.68bn from $5.6bn in the same quarter of 2009.
Jay Fishman, chairman and CEO of Travelers, said: “Book value per share increased 18% to $55.67 since June 30, 2009, after repurchasing 106 million common shares for $5.4bn and paying $682m in common stock dividends over the last 12 months.
“We are encouraged by the operating environment we experienced in our personal insurance segment in the second quarter. Renewal premium changes continued to be strong and we were pleased with the improving rate of change of policies in force across both our Auto and Homeowners book of business.”