April 24, 2018 / 10:59 AM / a month ago

Travelers profit rises 8.4 pct on higher premiums

April 24 (Reuters) - Property and casualty insurer Travelers Cos Inc on Tuesday reported an 8.4 percent rise in quarterly profit, lifted by higher premiums, improved underwriting and lower tax expenses.

Net income rose to $669 million, or $2.42 per share, in the first quarter ended March 31 from $617 million, or $2.17 per share, a year earlier.

The No. 2 U.S. commercial property and casualty insurer’s total revenue rose 5 percent to $7.29 billion.

Reporting by Nikhil Subba in Bengaluru; Editing by Sriraj Kalluvila

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