Property and casualty insurer Travelers Cos. said Tuesday its first quarter profits soared 39% due to gains in new business and lower catastrophe losses. The New York-based insurer with major operations in Hartford said its first quarter profits totaled just over $1 billion, or $4.15 per diluted share, vs. $733 million, or $2.87 per share, in the year-ago period. The company, which in recent weeks began welcoming more of its employees back to its Hartford offices, said it recorded revenue growth in all three business segments (business, bond and specialty and personal insurance) for total net written premiums of $8.
Travelers Cos. profits soar 38% on lower catastrophe, higher revenues
