Travelers' Net Income Falls 17% in Q1

The Travelers Companies Inc. has reported net income of $691 million for the quarter ending March 31, a 17% drop from net income of $833 million in the first quarter of 2015. Travelers’ net written premiums in the first quarter were $6.17 billion, a 5% increase from the prior year quarter. The company attributed the increase to higher levels of retention, new business and premium increases at renewal in each business segment. Travelers’ combined ratio rose to 92.3% in the first quarter as compared to 88.9% in the prior-year quarter. In a news release on Thursday, the compan...