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TRAVELERSJ The Travelers Companies , Inc. 485 Lexington Avenue New York , NY 10017-2630 www.travelers.com NYSE : TRV Travelers Reports Strong First Quarter 2021 Net Income per Diluted Share of $ 2.87 , up 23 % , and Return on Equity of 10.2 % First Quarter 2021 Core Income per Diluted Share of $ 2.73 , up 4 % , and Core Return on Equity of 11.1 % Board of Directors Declares 4 % Increase in the Company's Regular Quarterly Cash Dividend to $ 0.88 per Share and Authorizes an Additional $ 5.0 Billion of Share Repurchases • • First quarter net income of $ 733 million and core income of $ 699 million . Consolidated combined ratio of 96.6 % ; underlying combined ratio improved 1.8 points to a very strong 89.5 % . Catastrophe losses of $ 835 million pre - tax compared to $ 333 million pre - tax in the prior year quarter . Net written premiums of $ 7.505 billion , up 2 % compared to the prior year quarter . Strong renewal premium change in all three segments . Total capital returned to shareholders of $ 613 million , including $ 397 million of share repurchases . Book value per share of $ 112.42 , up 13 % from March 31 , 2020 ; adjusted book value per share of $ 101.21 , up 9 % from March 31 , 2020 . New York , April 20 , 2021 ― The Travelers Companies , Inc. today reported net income of $ 733 million , or $ 2.87 per diluted share , for the quarter ended March 31 , 2021 , compared to $ 600 million , or $ 2.33 per diluted share , in the prior year quarter . Core income in the current quarter was $ 699 million , or $ 2.73 per diluted share , compared to $ 676 million , or $ 2.62 per diluted share , in the prior year quarter . Core income increased primarily due to higher net favorable prior year reserve development , a higher underlying underwriting gain ( i.e. , excluding net prior year reserve development and catastrophe losses ) and higher net investment income , partially offset by higher catastrophe losses . Net realized investment gains in the current quarter were $ 44 million pre - tax ( $ 34 million after- tax ) , compared to net realized investment losses of $ 98 million pre - tax ( $ 76 million after - tax ) in the prior year quarter . Per diluted share amounts benefited from the impact of share repurchases . Consolidated Highlights ( $ in millions , except for per share amounts , and after - tax , except for premiums and revenues ) Net written premiums . Total revenues . Net income . per diluted share . Core income . per diluted share . Diluted weighted average shares outstanding . Combined ratio . Underlying combined ratio . Return on equity . Core return on equity . Book value per share . Adjusted book value per share . See Glossary of Financial Measures for definitions and the statistical supplement for additional financial data . 1 Three Months Ended March 31 , 2021 2020 Change $ 7,505 $ 7,346 2 % $ 8,313 $ 7,908 5 $ 733 $ 600 22 $ 2.87 $ 2.33 23 $ 699 $ 676 3 $ 2.73 $ 2.62 4 254.1 255.9 ( 1 ) 96.6 % 95.5 % 1.1 pts 89.5 % 91.3 % ( 1.8 ) pts 10.2 % 11.1 % 9.4 % 11.5 % 0.8 pts ( 0.4 ) pts As of March 31 , 2021 December 31 , 2020 Change $ 112.42 $ 101.21 115.68 ( 3 ) % 99.54 2 %