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Get filing alertsTravelers reports Q2 2026 net income of $2.21B, combined ratio of 83.6%
Filed July 17, 2026 · Period ending July 17, 2026 · ~1 min read
Key Changes
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Net income of $2.21B ($10.26/share) and core income of $2.16B ($10.04/share), up 46% and 44% year-over-year. Combined ratio improved 6.7 points to 83.6%, driven by lower catastrophe losses and favorable reserve development.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
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Exhibit 99.2 view on EDGAR →
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Catastrophe losses of $518M pre-tax, down from $927M in Q2 2025, primarily from severe wind and hail storms. The reduction contributed 3.6 points to the combined ratio improvement.
Exhibit 99.1 view on EDGAR → -
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Repurchased 4.3M shares for $1.3B at an average price of $304.06 and declared $266M in dividends. Year-to-date capital return totals $3.6B through share buybacks and dividends.
Exhibit 99.2 view on EDGAR → -
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Net investment income increased 14% to $883M after-tax, driven by higher yields and growth in average invested assets in the long-term fixed income portfolio.
Exhibit 99.1 view on EDGAR →
Summary
Travelers delivered strong second-quarter 2026 results with net income of $2.21 billion and a combined ratio of 83.6%, a 6.7-point improvement over the prior year. The performance reflects disciplined underwriting and favorable operating conditions: catastrophe losses fell by $409 million year-over-year to $518 million, while the company recognized $578 million in favorable prior-year reserve development—nearly double the prior year—driven by better-than-expected claims experience in workers' compensation and commercial property. The underlying combined ratio also improved, indicating operational strength beyond the reserve releases.
The company returned $1.58 billion to shareholders in the quarter through $1.31 billion in share repurchases and $266 million in dividends, bringing year-to-date capital return to $3.6 billion. Investment income rose 14% to $883 million after-tax on higher yields and asset growth. The results demonstrate Travelers' ability to generate strong underwriting profits and deploy capital aggressively while maintaining reserve adequacy across its book.
Section-by-Section Diff
Event · Exhibit 99.2
Added in current filing · view on EDGAR →
Net income $ 2,208 ... Core income $ 2,160 ... Combined ratio 83.6 %
Travelers disclosed second-quarter 2026 net income of $2.21 billion ($10.26 per diluted share) and core income of $2.16 billion ($10.04 per diluted share). The combined ratio was 83.6%, reflecting a loss and loss adjustment expense ratio of 54.6% and an underwriting expense ratio of 29.0%. The quarter benefited from $578 million in favorable prior-year reserve development and $518 million in catastrophe losses.
Added in current filing · view on EDGAR → · paraphrased
Prior year reserve development - favorable: Pre-tax $ 578
The company recognized $578 million in favorable prior-year reserve development in Q2 2026, up from $315 million in Q2 2025. Business Insurance contributed $319 million, Bond & Specialty $75 million, and Personal Insurance $184 million. This reflects better-than-expected claims experience on prior accident years.
Added in current filing · view on EDGAR → · paraphrased
Catastrophes, net of reinsurance: Pre-tax $ 518
Travelers incurred $518 million in pre-tax catastrophe losses during Q2 2026, down from $927 million in Q2 2025. Business Insurance accounted for $238 million, Personal Insurance $276 million, and Bond & Specialty $4 million. The lower catastrophe losses contributed to the improved combined ratio.
Added in current filing · view on EDGAR → · paraphrased
Common stock repurchased: ... Shares 4.3 ... Cost $ 1,300 ... Common stock dividends declared $ 266
The company repurchased 4.3 million shares for $1.3 billion under Board authorization in Q2 2026 and declared $266 million in dividends. Year-to-date through Q2 2026, Travelers repurchased 10.3 million shares for $3.1 billion and declared $504 million in dividends, demonstrating continued capital return to shareholders.
Added in current filing · view on EDGAR →
Proceeds from the divestiture of the Canadian business ... 2,384
Travelers completed the divestiture of its Canadian operations in Q1 2026, receiving $2.38 billion in proceeds. The cash flow statement shows this transaction under investing activities, and the balance sheet notes indicate net reserves and other amounts were disposed of in connection with the sale.
Event · Item 2.02 — Results of Operations and Financial Condition
Travelers announced Q2 2026 earnings results and published its quarterly financial supplement on its website.
Added in current filing · verify on EDGAR →
On July 17, 2026, The Travelers Companies, Inc. (the “Company”) issued a press release announcing the results of the Company’s operations for the quarter ended June 30, 2026, and the availability of the Company’s second quarter financial supplement on the Company’s web site.
Travelers disclosed its second quarter 2026 operating results through a press release and made its quarterly financial supplement available on its website. The 8-K itself does not contain the actual financial metrics; those are in the attached exhibits (press release and financial supplement).
Event · Exhibit 99.1
Added in current filing · view on EDGAR → · paraphrased
Second quarter net income of $2.208 billion and core income of $2.160 billion. ... Second Quarter 2026 Net Income per Diluted Share of $10.26 and Core Income per Diluted Share of $10.04 ... Second Quarter 2026 Return on Equity of 27.1% and Core Return on Equity of 24.9% ... Improved consolidated combined ratio of 83.6% and underlying combined ratio of 84.1%.
Travelers disclosed second quarter 2026 net income of $2.208 billion ($10.26 per diluted share) and core income of $2.160 billion ($10.04 per diluted share), representing a 46% and 44% increase respectively over the prior year quarter. The combined ratio improved 6.7 points to 83.6%, driven by lower catastrophe losses, higher net favorable prior year reserve development, and an improved underlying combined ratio. Return on equity was 27.1% and core return on equity was 24.9%.
Added in current filing · view on EDGAR →
Total capital of $1.577 billion returned to shareholders, including $1.311 billion of share repurchases. ... The Company repurchased 4.3 million shares of its common stock during the second quarter at an average price of $304.06 per share for a total cost of $1.311 billion.
Travelers returned $1.577 billion to shareholders in the second quarter, including $1.311 billion in share repurchases (4.3 million shares at an average price of $304.06 per share). The company had $3.915 billion of remaining capacity under its share repurchase authorizations at quarter end.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 20, 2026 · How we verify