Travelers Companies reported strong underwriting profitability in the second quarter of 2026, with pre-tax underlying underwriting income of $1.68 billion and an underlying combined ratio improving to 84.1% from 84.7% a year earlier. For the first six months of 2026, the underlying combined ratio remained strong at 84.7%, showing profitability was not solely dependent on lower catastrophe losses. Net investment income increased 14% year over year in the second quarter, providing a second major earnings engine. The company expects its full-year 2026 underwriting expense ratio to be around 28.5%. Zacks Consensus Estimates for Travelers' third-quarter and fourth-quarter 2026 EPS have moved up 3% and 2.4%, respectively, in the past 30 days, while full-year 2026 and 2027 EPS estimates rose 9.8% and 2.7%, respectively.
The Travelers Companies IncStrong underwriting profitability and raised EPS estimates
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