Travelers Q1 profit surges 333% as catastrophe losses plunge; accelerates buybacks to $2B

Filed April 16, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 16, 2025 · ~2 min read

Key Changes

• high

  Net income jumped to $1.71B ($7.78/share) from $395M ($1.70/share) as catastrophe losses fell 67% to $761M. Prior year included $1.73B from California wildfires; Q1 2026 losses primarily wind/hail storms.

  MD&A: Catastrophe Losses verify on EDGAR →
• high

  Combined ratio improved 13.9 points to 88.6% from 102.5%, driven almost entirely by lower catastrophe impact (7.2 points vs 21.2 points). Underlying combined ratio ticked up 0.5 points, indicating slightly weaker base underwriting margins.

  MD&A: Combined Ratio verify on EDGAR →
• high

  Share repurchases surged to $1.8B (6.0M shares at $300.30 avg) from $358M prior year. Board approved new $5B authorization in January 2026; quarterly dividend raised 14% to $1.25/share vs 5% increase prior year.

  MD&A: Capital Management verify on EDGAR →