Travelers CEO sees 'stable' P&C pricing environment for property and liability

By Michael Loney Oct 16 (The Insurer) — While Travelers’ business insurance renewal rate increases slowed in the third quarter, CEO Alan Schnitzer described the pricing environment as “stable” and noted modest changes in property and liability lines. Before markets opened on Friday, Travelers reported Q3 core income per share of $9.18, beating the $7.39 consensus analyst estimate and up from $8.14 in the same period of last year. The combined ratio improved 0.5 points to 86.8% with higher reserve releases outweighing the impact of higher catastrophe losses. As of 11:30 a.m. ET (1530 GMT), New York-listed Travelers' share price was up 1% compared with the previous day's close of $383.89. Travelers generated total net written premiums of $11.48 billion in the quarter, which was in line with Q3 2025. In business insurance, the insurer grew in every line other than property, generating net written premiums of $5.87 billion. On an analyst call on Friday, Schnitzer said the business insurance net written premiums were up 4% from Q3 2025 adjusting for the sale of its Canadian business. “Across the board, the triad of renewal premium change, retention and returns reflects outstanding and d