Travelers Companies Q2 2026 Earnings Call Transcript

On Friday, Travelers Companies (NYSE: TRV ) discussed second-quarter financial results during its earnings call.

The full transcript is provided below.

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View the webcast at Watch the full earnings call below: Summary Travelers Companies reported a strong second quarter with core income of $2.2 billion, or $10.04 per diluted share, and a core return on equity of 24.9%.

The company achieved underwriting income of $1.7 billion pre-tax and a combined ratio improvement to 83.6%, driven by strong underwriting performance across all segments.

Net written premiums reached $11.5 billion, with notable growth in business insurance and bond and specialty insurance lines.

Travelers returned over $1.5 billion of excess capital to shareholders, including $1.3 billion in share repurchases, and maintained a strong balance sheet.

Strategic investments in technology and AI are contributing to efficiency gains and improved underwriting, supporting long-term profitable growth.

The management reaffirmed their commitment to disciplined underwriting and capital management, emphasizing the importance of maintaining competitive advantages.

Future guidance suggests continued strong premium levels and underlying margins, supported by innovation and investment strategies.

Full Transcript OPERATOR Good morning, ladies and gentlemen.

Welcome to the second quarter results teleconference for Travelers.

We ask that you hold all questions until the completion of formal remarks, at which time you will be given instructions for the question and answer session.

As a reminder, this conference is being recorded on July 17, 2026.

At this time, I would like to turn the conference over to Ms.

Abby Goldstein, Senior Vice President of Investor Relations.

Ms.

Goldstein, you may begin.

Abby Goldstein, Senior Vice President of Investor Relations Thank you.

Good morning and welcome to Travelers' discussion of our second quarter 2026 results.

We released our press release, financial supplement, and webcast presentation earlier this morning.

All of these materials can be found on our website at travelers.com under the Investors Section.

Speaking today will be Alan Schnitzer, Chairman and CEO; Dan Frey, Chief Financial Officer; and our three segment presidents, Greg Teslowski of Business Insurance, Jeff Klank of Bond and Specialty Insurance, and Michael Klein of Personal Insurance.

They will discuss the financial results of our business and the current market environment.

They will refer to the webcast presentation as they go through prepared remarks, and then we will take your questions.

Before I turn the call over to Alan, I'd like to draw your attention to the explanatory note included at the end of the webcast presentation.

Our presentation today includes forward-looking statements.

The company cautions investors that any forward-looking statement involves risks and uncertainties and is not a guarantee of future performance.

Actual results may differ materially from those expressed or implied in the forward-looking statements due to a variety of factors.

These factors are described under forward-looking statements in our earnings press release and in our most recent 10-Q and 10-K filed with the SEC.

We do not undertake any obligation to update forward-looking statements.

Also, in our remarks or responses to questions, we may mention some non-GAAP financial measures.

Reconciliations are included in our recent earnings press release, financial supplement, and other material available in the Investors section on our website.

And now I'd like to turn the call over to Alan Schnitzer.

Alan Schnitzer, Chairman and CEO Thank you, Abby.