Travelers reports fourth quarter 2022 net income per diluted share of $3.44 and return on equity of 15.8%

New york--( business wire )--the travelers companies, inc. today reported net income of $819 million, or $3.44 per diluted share, for the quarter ended december 31, 2022, compared to $1.333 billion, or $5.37 per diluted share, in the prior year quarter. core income in the current quarter was $810 million, or $3.40 per diluted share, compared to $1.289 billion, or $5.20 per diluted share, in the prior year quarter. core income decreased primarily due to higher catastrophe losses, a lower underlying underwriting gain (i.e., excluding net prior year reserve development and catastrophe losses) and lower net investment income, partially offset by higher net favorable prior year reserve development. net realized investment gains in the current quarter were $7 million pre-tax ($9 million after-tax), compared to $58 million pre-tax ($44 million after-tax) in the prior year quarter. per diluted share amounts benefited from the impact of share repurchases.
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