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Higher Underwriting Margins Lifts Travelers

 (Image source: businessweek)

The insurer Travelers Companies Inc (NYSE:TRV) reported third quarter earnings that beat estimates due to higher underwriting margins. Travelers earned $2.35 per share for the quarter, which was 28 cents higher than higher than what Reuters expected. Net income was unchanged from a year ago at $864 million. The CEO’s policy to raise prices for insurance coverage to combat low interest rates has worked. Underwriting profits for the quarter was 11.1 cents per share, which was 1.4 cents higher than last year. The company also announced an increase of $5 billion to its share buyback program.