Travelers to seek business insurance rate increases because of growing tort concerns
Quarterly core earnings per share $3.32.quarterly earnings per share $3.35.travelers companies - quarter-end book value per share $101.55, up 17%.quarterly consolidated combined ratio of 92.4% improved by 5.1 points.quarterly total revenue $8.06 billion, up 3%.quarterly net written premiums $7.08 billion, up 6%.quarterly catastrophe losses of $85 million pre-tax decreased from $610 million pre-tax.quarterly net investment income of $616 million versus $630 million.q4 earnings per share view $3.29, revenue view $7.07 billion -- refinitiv ibes data.cfo daniel frey says 2020 fixed net interest income will decrease by about $5 million to $10 million after-tax per quarter compared to prior year periods.business insurance exec says company will seek rate increases in response to tort environment - call.exec says company expects higher rpc in 2020 than in 2019 - call.exec says company expects business insurance underlying combined ratio for full year 2020 will be lower than in 2019 - call.exec says company experienced “a modest amount of reserve activity” spurred by "reviver statues" - call.cfo frey says company in 2019 "booked our best estimate of the ultimate loss costs" related to reviver statutes - call.cfo frey says company hasn't seen anything in the activity spurred by child victims act that would prompt changing reserves - call.
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