Property casualty insurer Travelers, which has major Hartford operations, said its third-quarter profits jumped 6.3 percent thanks to higher written premiums and investment growth, and lower catastrophic losses.
Travelers netted $919 million in profits, or $2.69 per diluted share, for the quarter ended Sept. 30. That was up from $864 million, or $2.30, in the year-ago quarter.
Net written premiums grew from $5.71 billion to $6.03 billion, primarily because of Travelers’ $1.1 billion acquisition of Dominion of Canada General Insurance Co. in Nov. 2013.
Investment income increased 9 percent during the quarter, to $719 million, while catastrophic losses fell from $99 million to $83 million.
