TRAVELERS COMPANIES, INC. (TRV) financial statements: income statement, balance sheet and cash flow

TRAVELERS COMPANIES, INC.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), TRAVELERS COMPANIES, INC. reported revenue of $48.8B (+5.2% year on year) and net income of $6.3B (+25.8% year on year).

Income statement

TRAVELERS COMPANIES, INC. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Premiums	$43.9B	$41.9B	$37.8B	$33.8B
Net investment income	$4.0B	$3.6B	$2.9B	$2.6B
Fee income	$495.0M	$473.0M	$433.0M	$412.0M
Net realized investment losses	($48.0M)	($30.0M)	($105.0M)	($204.0M)
Other revenues	$508.0M	$449.0M	$353.0M	$351.0M
Total revenues	$48.8B	$46.4B	$41.4B	$36.9B
Claims and claim adjustment expenses	$27.2B	$27.1B	$26.2B	$22.9B
Amortization of deferred acquisition costs	$7.3B	$7.0B	$6.2B	$5.5B
General and administrative expenses	$6.1B	$5.8B	$5.2B	$4.8B
Interest expense	$425.0M	$392.0M	$376.0M	$351.0M
Total claims and expenses	$41.0B	$40.2B	$38.0B	$33.5B
Income before income taxes	$7.8B	$6.2B	$3.4B	$3.4B
Income tax expense	$1.5B	$1.2B	$380.0M	$512.0M
Net income	$6.3B	$5.0B	$3.0B	$2.8B
Basic (in dollars per share)	$27.83	$21.76	$12.93	$11.91
Diluted (in dollars per share)	$27.43	$21.47	$12.79	$11.77
Basic (in shares)	224.2M	228.0M	229.7M	237.0M
Diluted (in shares)	227.6M	231.1M	232.2M	239.7M

TRAVELERS COMPANIES, INC. income statement, quarters

Line item	Sep 30, 2026 · Q3	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3
Premiums	$11.1B	$10.8B	$10.6B	$11.1B
Net investment income	$1.1B	$1.1B	$1.0B	$1.0B
Fee income	$123.0M	$126.0M	$121.0M	$127.0M
Net realized investment gains (losses)	($34.0M)	$60.0M	$49.0M	$27.0M
Other revenues	$122.0M	$144.0M	$141.0M	$148.0M
Total revenues	$12.4B	$12.2B	$11.9B	$12.5B
Claims and claim adjustment expenses	$6.5B	$5.9B	$6.4B	$6.6B
Amortization of deferred acquisition costs	$1.9B	$1.8B	$1.8B	$1.8B
General and administrative expenses	$1.6B	$1.6B	$1.5B	$1.6B
Interest expense	$118.0M	$113.0M	$116.0M	$111.0M
Total claims and expenses	$10.0B	$9.4B	$9.8B	$10.1B
Income before income taxes	$2.4B	$2.8B	$2.1B	$2.3B
Income tax expense	$452.0M	$559.0M	$408.0M	$456.0M
Net income	$1.9B	$2.2B	$1.7B	$1.9B
Basic (in dollars per share)	$9.20	$10.41	$7.89	$8.37
Diluted (in dollars per share)	$9.04	$10.26	$7.78	$8.24
Basic (in shares)	206.9M	210.5M	215.2M	224.1M
Diluted (in shares)	210.6M	213.6M	218.4M	227.5M
Cash dividends declared per common share (in dollars per share)	$1.25	$1.25	$1.10	$1.10

Balance sheet

TRAVELERS COMPANIES, INC. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Fixed maturities, available for sale, at fair value (amortized cost $91,717 and $88,277; allowance for expected credit losses of $3 and $2)	$89.8B	$83.7B	$77.8B	$71.2B
Equity securities, at fair value (cost $457 and $544)	$618.0M	$687.0M	$608.0M	$807.0M
Real estate investments	$900.0M	$902.0M	$959.0M	$952.0M
Short-term securities	$5.7B	$4.8B	$5.1B	$3.5B
Other investments	$4.1B	$4.2B	$4.3B	$4.1B
Total investments	$101.2B	$94.2B	$88.8B	$80.5B
Cash (including restricted cash of $132 and $131)	$842.0M	$699.0M	$650.0M	$799.0M
Investment income accrued	$877.0M	$752.0M	$688.0M	$650.0M
Premiums receivable (net of allowance for expected credit losses of $58 and $58)	$11.0B	$11.1B	$10.3B	$8.9B
Reinsurance recoverables (net of allowance for estimated uncollectible reinsurance of $129 and $119)	$7.9B	$8.0B	$8.1B	$8.1B
Ceded unearned premiums	$1.3B	$1.2B	$1.1B	$1.0B
Deferred acquisition costs	$3.5B	$3.5B	$3.3B	$2.8B
Deferred taxes	$887.0M	$1.8B	$1.5B	$1.9B
Contractholder receivables (net of allowance for expected credit losses of $16 and $18)	$3.0B	$3.2B	$3.2B	$3.6B
Goodwill	$4.1B	$4.2B	$4.0B	$4.0B
Other intangible assets	$336.0M	$360.0M	$277.0M	$287.0M
Other assets	$4.3B	$4.2B	$3.9B	$3.3B
Assets held for sale	$4.5B	—	—	—
Total assets	$143.7B	$133.2B	$126.0B	$115.7B
Claims and claim adjustment expense reserves	$65.7B	$64.1B	$61.6B	$58.6B
Unearned premium reserves	$22.4B	$22.3B	$20.9B	$18.2B
Contractholder payables	$3.0B	$3.2B	$3.3B	$3.6B
Payables for reinsurance premiums	$529.0M	$550.0M	$518.0M	$419.0M
Debt	$9.3B	$8.0B	$8.0B	$7.3B
Other liabilities	$7.3B	$7.2B	$6.7B	$6.0B
Liabilities held for sale	$2.5B	—	—	—
Total liabilities	$110.8B	$105.3B	$101.1B	$94.2B
Common stock (1,750.0 shares authorized; 217.5 and 226.6 shares issued and outstanding)	25.9B	25.5B	24.9B	24.6B
Retained earnings	$54.9B	$49.6B	$45.6B	$43.5B
Accumulated other comprehensive loss	($2.5B)	($5.0B)	($4.5B)	($6.4B)
Treasury stock, at cost (575.9 and 564.3 shares)	-45.4B	-42.3B	—	—
Total shareholders’ equity	$32.9B	$27.9B	$24.9B	$21.6B
Total liabilities and shareholders’ equity	$143.7B	$133.2B	$126.0B	$115.7B

TRAVELERS COMPANIES, INC. balance sheet, quarters

Line item	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025
Fixed maturities, available for sale, at fair value (amortized cost $97,423 and $91,717; allowance for expected credit losses of $2 and $3)	$89.4B	$92.9B	$90.7B	$91.1B
Equity securities, at fair value (cost $414 and $457)	$640.0M	$652.0M	$591.0M	$692.0M
Real estate investments	$883.0M	$884.0M	$899.0M	$888.0M
Short-term securities	$5.6B	$4.6B	$6.7B	$6.8B
Other investments	$4.1B	$4.1B	$4.1B	$4.2B
Total investments	$100.6B	$103.2B	$103.0B	$103.7B
Cash (including restricted cash of $147 and $132)	$766.0M	$621.0M	$615.0M	$729.0M
Investment income accrued	$860.0M	$911.0M	$801.0M	$776.0M
Premiums receivable (net of allowance for expected credit losses of $69 and $58)	$12.1B	$12.4B	$11.4B	$11.6B
Reinsurance recoverables (net of allowance for estimated uncollectible reinsurance of $142 and $129)	$8.1B	$8.0B	$8.0B	$8.3B
Ceded unearned premiums	$1.5B	$1.7B	$1.9B	$1.7B
Deferred acquisition costs	$3.8B	$3.7B	$3.6B	$3.7B
Deferred taxes	$2.3B	$1.0B	$1.1B	$1.0B
Contractholder receivables (net of allowance for expected credit losses of $13 and $16)	$3.0B	$3.1B	$3.1B	$3.1B
Goodwill	$4.1B	$4.1B	$4.1B	$4.3B
Other intangible assets	$326.0M	$325.0M	$331.0M	$342.0M
Other assets	$4.7B	$4.6B	$4.5B	$4.5B
Total assets	$142.1B	$143.6B	$142.3B	$143.7B
Claims and claim adjustment expense reserves	$68.1B	$67.2B	$66.9B	$67.7B
Unearned premium reserves	$23.5B	$23.3B	$22.8B	$23.6B
Contractholder payables	$3.1B	$3.1B	$3.1B	$3.1B
Payables for reinsurance premiums	$828.0M	$1.0B	$1.1B	$946.0M
Debt	$9.8B	$9.1B	$9.3B	$9.3B
Other liabilities	$7.7B	$6.7B	$7.2B	$7.4B
Total liabilities	$113.1B	$110.5B	$110.3B	$112.1B
Common stock (1,750.0 shares authorized; 204.9 and 217.5 shares issued and outstanding)	26.3B	26.2B	26.1B	25.8B
Retained earnings	$60.0B	$58.3B	$56.4B	$52.7B
Accumulated other comprehensive loss	($7.1B)	($2.7B)	($3.1B)	($3.1B)
Treasury stock, at cost (590.8 and 575.9 shares)	-50.3B	-48.7B	-47.4B	-43.8B
Total shareholders’ equity	$29.0B	$33.1B	$32.0B	$31.6B
Total liabilities and shareholders’ equity	$142.1B	$143.6B	$142.3B	$143.7B

Cash flow statement

TRAVELERS COMPANIES, INC. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$6.3B	$5.0B	$3.0B	$2.8B
Net realized investment losses	$48.0M	$30.0M	$105.0M	$204.0M
Depreciation and amortization	$680.0M	$715.0M	$722.0M	$826.0M
Deferred federal income tax expense (benefit)	$210.0M	($152.0M)	($163.0M)	($186.0M)
Amortization of deferred acquisition costs	$7.3B	$7.0B	$6.2B	$5.5B
Equity in income from other investments	($226.0M)	($294.0M)	($157.0M)	($336.0M)
Premiums receivable	($115.0M)	($859.0M)	($1.3B)	($877.0M)
Reinsurance recoverables	($137.0M)	$111.0M	($63.0M)	$344.0M
Deferred acquisition costs	($7.4B)	($7.2B)	($6.7B)	($5.8B)
Claims and claim adjustment expense reserves	$3.3B	$2.7B	$2.8B	$2.0B
Unearned premium reserves	$584.0M	$1.5B	$2.6B	$1.9B
Other operating activities	$81.0M	$556.0M	$647.0M	$45.0M
Net cash provided by operating activities	$10.6B	$9.1B	$7.7B	$6.5B
Proceeds from maturities of fixed maturities	$11.7B	$8.5B	$6.4B	$6.8B
Fixed maturities	$832.0M	$1.6B	$5.0B	$5.7B
Equity securities	$160.0M	$143.0M	$138.0M	$138.0M
Real estate investments	$0	$64.0M	$0	$10.0M
Other investments	$321.0M	$422.0M	$255.0M	$302.0M
Fixed maturities	($18.8B)	($17.1B)	($15.7B)	($15.9B)
Equity securities	($126.0M)	($124.0M)	($105.0M)	($136.0M)
Real estate investments	($48.0M)	($48.0M)	($67.0M)	($41.0M)
Other investments	($346.0M)	($396.0M)	($495.0M)	($574.0M)
Net sales (purchases) of short-term securities	($945.0M)	$370.0M	($1.7B)	$355.0M
Securities transactions in the course of settlement	$144.0M	$56.0M	($83.0M)	$21.0M
Acquisition, net of cash acquired	$0	($382.0M)	$0	($4.0M)
Other investing activities	($533.0M)	($408.0M)	($462.0M)	($385.0M)
Net cash used in investing activities	($7.7B)	($7.3B)	($6.8B)	($3.7B)
Treasury stock acquired — share repurchase authorizations	($3.0B)	($1.0B)	($958.0M)	($2.0B)
Treasury stock acquired — net employee share-based compensation	($127.0M)	($114.0M)	($64.0M)	($61.0M)
Dividends paid to shareholders	($979.0M)	($951.0M)	($908.0M)	($875.0M)
Issuance of debt	$1.2B	$0	$738.0M	$0
Issuance of common stock — employee share options	$214.0M	$321.0M	$141.0M	$267.0M
Net cash used in financing activities	($2.7B)	($1.7B)	($1.1B)	($2.7B)
Effect of exchange rate changes on cash and restricted cash	$23.0M	($14.0M)	$12.0M	—
Net increase (decrease) in cash and restricted cash	$314.0M	$49.0M	($149.0M)	$38.0M
Cash and restricted cash at beginning of year	$699.0M	$650.0M	$799.0M	$761.0M
Less amounts classified as held for sale at end of period	$171.0M	—	—	—
Cash and restricted cash at end of year	$842.0M	$699.0M	—	—
Income taxes paid	$1.3B	$1.3B	$201.0M	$817.0M
Interest paid	$393.0M	$390.0M	$370.0M	$349.0M

TRAVELERS COMPANIES, INC. cash flow statement, quarters

Line item	Sep 30, 2026 · YTD	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD
Net income	$5.8B	$3.9B	$1.7B	$3.8B
Net realized investment (gains) losses	($75.0M)	($109.0M)	($49.0M)	$28.0M
Depreciation and amortization	$537.0M	$363.0M	$193.0M	$518.0M
Deferred federal income tax expense (benefit)	($66.0M)	($7.0M)	$51.0M	$268.0M
Amortization of deferred acquisition costs	$5.4B	$3.6B	$1.8B	$5.4B
Equity in income from other investments	($170.0M)	($98.0M)	($23.0M)	($169.0M)
Premiums receivable	($1.2B)	($1.4B)	($434.0M)	($485.0M)
Reinsurance recoverables	($199.0M)	($131.0M)	($108.0M)	($269.0M)
Deferred acquisition costs	($5.7B)	($3.7B)	($1.8B)	($5.6B)
Claims and claim adjustment expense reserves	$2.4B	$1.5B	$1.2B	$3.4B
Unearned premium reserves	$1.1B	$910.0M	$351.0M	$1.2B
Other operating activities	($10.0M)	($671.0M)	($634.0M)	($208.0M)
Net cash provided by operating activities	$8.0B	$4.1B	$2.2B	$7.9B
Proceeds from maturities of fixed maturities	$8.8B	$6.0B	$3.0B	$8.8B
Fixed maturities	$917.0M	$385.0M	$251.0M	$779.0M
Equity securities	$134.0M	$116.0M	$52.0M	$131.0M
Real estate investments	$17.0M	$17.0M	—	$0
Other investments	$203.0M	$125.0M	$60.0M	$210.0M
Fixed maturities	($15.5B)	($10.2B)	($5.4B)	($14.5B)
Equity securities	($77.0M)	($56.0M)	($25.0M)	($94.0M)
Real estate investments	($34.0M)	($22.0M)	($12.0M)	($23.0M)
Other investments	($270.0M)	($181.0M)	($69.0M)	($262.0M)
Net sales (purchases) of short-term securities	$154.0M	$1.1B	($945.0M)	($2.0B)
Securities transactions in the course of settlement	$382.0M	$30.0M	$430.0M	$368.0M
Proceeds from the divestiture of the Canadian business	$2.4B	$2.4B	$2.4B	—
Other investing activities	($386.0M)	($256.0M)	($119.0M)	($398.0M)
Net cash used in investing activities	($3.3B)	($500.0M)	($335.0M)	($7.1B)
Treasury stock acquired — share repurchase authorizations	($4.6B)	($3.1B)	($1.8B)	($1.4B)
Treasury stock acquired — net employee share-based compensation	($159.0M)	($154.0M)	($149.0M)	($125.0M)
Dividends paid to shareholders	($759.0M)	($500.0M)	($237.0M)	($737.0M)
Payment of debt	($200.0M)	($200.0M)	—	—
Issuance of debt	$744.0M	—	—	$1.2B
Issuance of common stock — employee share options	$212.0M	$124.0M	$86.0M	$163.0M
Net cash used in financing activities	($4.7B)	($3.8B)	($2.1B)	($835.0M)
Effect of exchange rate changes on cash and restricted cash	($8.0M)	($7.0M)	($5.0M)	$21.0M
Net increase (decrease) in cash and restricted cash	($76.0M)	($221.0M)	($227.0M)	$30.0M
Cash and restricted cash at beginning of year	$842.0M	$842.0M	$842.0M	$699.0M
Cash and restricted cash at end of period	$766.0M	$621.0M	$615.0M	$729.0M
Income taxes paid	$1.7B	$1.1B	$12.0M	$756.0M
Interest paid	$324.0M	$230.0M	$94.0M	$257.0M

TRAVELERS COMPANIES, INC. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.