)
Visual
test
The Travelers Companies
The Travelers Companies (TRV) investor relations material
The Travelers Companies Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary21 Jan, 2026
Executive summary
Delivered excellent Q4 and full-year 2025 results, with net income per diluted share up 23% to $11.06 and core income per diluted share up 22% to $11.13, driven by strong underwriting and investments across all segments.
Full-year net income reached $6.288B and core income $6.325B, both up 26% year-over-year; return on equity was 21.0% and core return on equity 19.4%.
Board authorized an additional $5.0B in share repurchases, supplementing prior authorizations.
Returned $1.9B to shareholders in Q4, including $1.7B in share repurchases and $244M in dividends.
Continued significant investments in AI and technology, with more than $1.5B invested in 2025.
Financial highlights
Q4 net income was $2.496B, up 20% year-over-year; core income was $2.511B, up 18%; net investment income after-tax for Q4 was $867M, up 10%.
Net written premiums for Q4 were $10.9B; Business Insurance at $5.5B, Bond and Specialty at $1.1B, and Personal Insurance at $4.2B.
Adjusted book value per share increased 14% year-over-year to $158.01; book value per share rose 23% to $151.21.
Full-year cash flow from operations reached $10.606B, up from $9B in 2024.
Combined ratio improved to 80.2% in Q4 (down 3.0 pts); full year combined ratio improved to 89.9% (down 2.6 pts).
Outlook and guidance
Expect 2026 expense ratio to remain around 28.5%.
Project after-tax fixed income net investment income of ~$3.3B in 2026, starting at $800M in Q1 and rising to $870M in Q4.
Anticipate Q1 2026 share repurchases of ~$1.8B, including proceeds from the sale of Canadian operations.
Plan to issue debt annually to maintain a consistent debt-to-capital ratio.
Long-term strategy targets mid-teens core ROE over time, focusing on sustainable competitive advantages and top-tier earnings.
Balance of capital return vs tech investment in 2026
Impact of asbestos reserve on Business Insurance?
Growth strategy for Personal Insurance Auto?
AI's impact on new capability delivery speed
Implications of annual debt issuance strategy
Personal Insurance portfolio repositioning impact
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Latest summaries
- TimeTickerHeadlineOpen
- 7 FebGICRE
Net profit for the nine months surged to ₹6,62,217 lakhs, with a robust solvency ratio of 3.87. - 7 Feb517271
Strong revenue and profit growth, interim dividend, and major investments approved. - 7 Feb514167
Quarterly and nine-month results reflect solid revenue, profit, and compliance with new labour codes. - 7 FebMGL
Strong revenue growth offset by lower margins and profit; interim dividend declared. - 7 FebPGIL
Strong revenue and margin growth, with India set for further expansion and upgraded ratings. - 7 Feb504614
Strong revenue and profit growth in Q3 FY26, led by power and steel segments. - 7 FebCHEMPLASTS
Net losses widened and revenue fell year-over-year amid regulatory and market headwinds. - 7 FebSBIN
Q3 FY26 net profit reached ₹21,028.15 crore, driven by robust income and strategic divestments. - 6 FebHTOO
Resale registration for 71,429 shares via warrant, with proceeds only on exercise; financial risks persist. - 6 FebVSAT
Q3 revenue up 3% to $1.16B, net income $25M, strong cash flow, Ligado boost, satellite focus.
Next The Travelers Companies earnings date
Q1 202615 Apr, 2026
The Travelers Companies
Next The Travelers Companies earnings date
Q1 202615 Apr, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
The Travelers Companies, Inc. is a multi-line insurance holding company that provides property, casualty and life insurance products and services to businesses, governmental units, associations and individuals primarily in the United States and abroad. The Company’s segments include: Personal Insurance, National Accounts and International. The Personal Insurance segment primarily consists of individual homeowners and automobile insurance businesses. The National Accounts segment insures commercial risks throughout the United States which are not insured by the Company’s major national accounts subsidiaries. The International segment provides a range of property and casualty insurance products internationally as well as in the U.S.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage