The Travelers Companies Inc. has reported net income of $796 million for the first quarter of 2019, a 19% increase from $669 million in the prior-year quarter.
In the business insurance segment, first-quarter income was $414 million after tax, a decrease of $38 million. Gross written premiums in the segment grew 6% in the quarter, to $4.73 billion.
The decreased income in the business insurance segment was mainly due to net unfavorable prior-year reserve development, compared to net favorable prior-year reserve development in the first quarter of 2018, as well as lower net investment income,...
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