Travelers posts higher first-quarter profit, raises dividend

April 23 Tue Apr 23, 2013 7:02am EDT

April 23 (Reuters) - U.S. insurer Travelers Cos Inc posted a higher first-quarter profit, helped by a decline in natural disaster losses and rising insurance rates.

Travelers also raised its quarterly dividend to 50 cents per share from 46 cents per share.

The company's first-quarter net profit rose to $896 million, or $2.33 per share, from $806 million, or $2.02 per share, a year earlier.

On an operating basis, Travelers earned $2.31 per share.