Travelers Weathers Catastrophes, Posts $2.5 Billion Profit for 2018

The Travelers Co. on Tuesday reported net income for 2018 of $2.523 billion, a 23% increase from net income of $2.056 billion in 2017. For the fourth quarter, net income was $621 million, up from $551 million in the fourth quarter of 2017. The profits came despite large catastrophe losses from the California wildfires and Hurricane Michael, Alan Schnitzer, Travelers’ chairman and chief executive officer, said in a news release. Catastrophe losses of $610 million pre-tax in the fourth quarter increased, from $499 million pre-tax in the prior-year quarter. Results were boosted ...