Reinsurance News
22nd April 2021
The Travelers Companies has committed to becoming carbon neutral across all its owned operations by 2030. The pledge is part of Travelers’ ongoing and broader sustainability strategy, where it has already made significant progress in reducing its carbon footprint, cutting Scope 1 and 2 emissions by more than 40% between 2011 and ... Read the full article
21st April 2021
Travelers has reported that it accumulated almost $915 million of qualifying losses towards its aggregate retention during the first quarter of 2021. The insurer lifted the attachment point of its catastrophe reinsurance structure to $1.9 billion at the January renewals, meaning it is almost halfway to triggering its coverage with only ... Read the full article
20th April 2021
The Travelers Companies, Inc. has reported a year-on-year increase in net income to $733 million for Q1 2021, despite catastrophe losses, net of reinsurance, hitting $835 million. Up from $600 million in the prior year period, the increase was driven by higher core income, higher net favourable prior year reserve development ... Read the full article
26th January 2021
A new report by Travelers reaffirms the company’s belief that the auto insurance industry will play a “critical role” as lawmakers, regulators and society adjust to innovations in transportation, including the shift towards autonomous driving. Among the key points of the report, Travelers recommends that any proposed legal and regulatory framework ... Read the full article
21st January 2021
Travelers has reported the details of its January 1st, 2021 catastrophe reinsurance renewals, revealing an increase in coverage under the firm's property aggregate catastrophe excess-of-loss reinsurance treaty. Back in 2019, Travelers added a new $500 million property aggregate cat treaty to provide it with reinsurance protection for smaller, frequency type events. Designed ... Read the full article
21st January 2021
The Travelers Companies, Inc. has today reported record net income of $1.3 billion for the fourth-quarter of 2020, driven by an improved underwriting gain, higher favourable reserve development and investment income, and a reduction in catastrophe losses. At just over $1.3 billion, the insurer's net income increased by a significant $437 ... Read the full article
9th December 2020
The Travelers Companies has entered an agreement to acquire insurance company InsuraMatch from the Plymouth Rock Group. The transaction, which is subject to customary closing conditions, is expected to close in the first quarter of 2021. The terms of the transaction were not disclosed. InsuraMatch focuses primarily on personal insurance, and offers ... Read the full article
20th October 2020
The Travelers Companies, Inc. has reported an improved net income of $827 million for the third-quarter of 2020, despite elevated catastrophe and non-catastrophe weather-related losses triggering a full recovery under the firm's Underlying Property Aggregate Catastrophe Excess-of-Loss Reinsurance Treaty. Net income improved by $431 million year-on-year in Q3 2020 as a ... Read the full article
24th July 2020
P&C insurer Travelers has provided an update on the catastrophe reinsurance treaties it renewed on July 1. The Northeast Property Catastrophe Excess-of-Loss Reinsurance Treaty provides up to $600 million part of $850 million of coverage, subject to a $2.25 billion retention for losses arising from a single occurrence, subject to one ... Read the full article
23rd July 2020
The Travelers Companies, Inc. has fallen to a net loss of $40 million for the second-quarter of 2020 as catastrophe losses spiked to $854 million (pre-tax) and net investment income declined year-on-year. The insurer's Q2 net loss of $40 million compares with net income of $557 million in the same period ... Read the full article
14th July 2020
Property and casualty insurer, The Travelers Companies, Inc., expects to report a net loss for the second-quarter of 2020 on the back of a high level of catastrophe losses and losses in its non-fixed income investment portfolio. The firm's Q2 2020 catastrophe losses are estimated at $854 million pre-tax ($673 million ... Read the full article
21st April 2020
The Travelers Companies, Inc. has reported a year-on-year decline in net income to USD 600 million for the first-quarter of 2020, as elevated catastrophe losses and charges related to the ongoing COVID-19 coronavirus pandemic dented the insurer's underwriting performance in the period. Net income fell by almost USD 200 million when ... Read the full article
8th April 2020
US primary insurer Travelers has announced plans to accelerate more than $100 million in commission payments to eligible distribution partners, building on the company’s COVID-19 relief efforts. Travelers explained that the distribution support plan will speed up payments for agents and brokers to help them address the liquidity impacts of the ... Read the full article
27th January 2020
US primary insurer Travelers has disclosed that it recovered $101 million of catastrophe losses from its aggregate reinsurance treaty during the fourth quarter of 2019. The company recorded a total of $186 million of pre-tax catastrophe losses in the quarter, but only incurred an $85 million loss after factoring in its ... Read the full article
23rd January 2020
Travelers has successfully renewed some of its catastrophe reinsurance treaties at the January 1st, 2020 renewals, which shows that the firm is to retain a much higher share of its losses this year under changes made to its underlying property aggregate catastrophe excess-of-loss reinsurance treaty. This time last year, the ... Read the full article
