Non-fixed income gains boost Travelers’ pre-tax net investment income by 10% to $677m

Written by Adam Cadle

22/01/2021

American insurance company Travelers has seen its pre-tax net investment income rise 10% to $677m, aided by gains in its non-fixed income investment portfolio.

In its Q4 2020 financial report, Travelers said higher private equity partnership returns increased net investment income compared to the same period a year earlier. Income from the fixed income portfolio decreased from the prior year quarter, primarily due to lower interest rates, partially offset by a higher average level of fixed maturity investments.

Travelers reported a core income of $1.26 bn, or $4.91 per share, in the fourth quarter ended 31 December, compared with $867m, or $3.32 per share, a year earlier. Net written premiums of $7.269 billion increased 3%.

The insurer posted $31m in pre-tax COVID losses for the quarter.

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