Travelers' Q1 Profits Up as Work Comp Leads Rate Gains

The Travelers Companies, Inc. said its profits increased 11% to $896 million in the first quarter of 2012, compared to a year ago.The insurer said written rate gains continued to exceed expected loss-cost trends in all segments. In the business insurance segment, for instance, written rate gains were between 6% and 10% across all lines, led by its workers’ compensation and commercial auto businesses.Growth in workers’ compensation residual market pools contributed to an 18% increase in net written premiums within its national accounts segment.Travelers recorded a $42 million pre-ta...