Travelers Cos. Inc. posted first-quarter earnings marked by a nearly one-billion-dollar uptick in revenue and raised its quarterly dividends.
Revenue gains were driven by higher net written premiums and higher pricing across the company’s three business segments.
Net income, on the other hand, fell slightly as Travelers faced $535 million in catastrophe losses compared with $160 million in the same period one year ago.
The company said it raised its quarterly dividend by 7.5%, to $1 from 93 cents. An additional $5 billion in share repurchases were also approved.
Shares are down 2.3% since the start of the year and up nearly 4% since one year ago.