Form 8-K

8-K — TRAVELERS COMPANIES, INC.

Accession: 0000086312-26-000180

Filed: 2026-10-16

Period: 2026-10-16

CIK: 0000086312

SIC: 6331 (FIRE, MARINE & CASUALTY INSURANCE)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — trv-20261016.htm (Primary)

EX-99.1 (a991pressrelease93026.htm)

EX-99.2 (a992finsupp93026.htm)

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XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: trv-20261016.htm · Sequence: 1

trv-20261016

0000086312false00000863122026-10-162026-10-16

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________________________________

FORM 8-K

______________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 16, 2026

_______________________________________________

The Travelers Companies, Inc.

(Exact name of registrant as specified in its charter)

_______________________________________________

Minnesota 001-10898 41-0518860

(State or other jurisdiction of

incorporation) (Commission File Number) (I.R.S. Employer

Identification No.)

485 Lexington Avenue

New York, New York 10017

(Address of principal executive offices) (Zip Code)

(917) 778-6000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

_________________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common stock, without par value TRV New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02. Results of Operations and Financial Condition.

On October 16, 2026, The Travelers Companies, Inc. (the “Company”) issued a press release announcing the results of the Company’s operations for the quarter ended September 30, 2026, and the availability of the Company’s third quarter financial supplement on the Company’s web site. The press release and the financial supplement are furnished as Exhibits 99.1 and 99.2 to this Report and are hereby incorporated by reference in this Item 2.02.

As provided in General Instruction B.2 of Form 8-K, the information and exhibits contained in this Form 8-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

99.1

Press Release, dated October 16, 2026, reporting results of operations (This exhibit is furnished and not filed.)

99.2

Third Quarter 2026 Financial Supplement of The Travelers Companies, Inc. (This exhibit is furnished and not filed.)

101.1 Pursuant to Rule 406 of Regulation S-T, the cover page to this Current Report on Form 8-K is formatted in Inline XBRL.

104.1 Cover Page Interactive Data File (Embedded within the Inline XBRL document and included in Exhibit 101.1.)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, The Travelers Companies, Inc. has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

THE TRAVELERS COMPANIES, INC.

Date: October 16, 2026 By: /S/ CHRISTINE K. KALLA

Name: Christine K. Kalla

Executive Vice President and General Counsel

EX-99.1

Filename: a991pressrelease93026.htm · Sequence: 2

Document

Exhibit 99.1

The Travelers Companies, Inc.

485 Lexington Avenue

New York, NY 10017-2630

www.travelers.com

NYSE: TRV

Travelers Reports Excellent Third Quarter and Year-to-Date Results

Third Quarter 2026 Net Income per Diluted Share of $9.04 and Core Income per Diluted Share of $9.18

Third Quarter 2026 Return on Equity of 24.7% and Core Return on Equity of 22.1%

•Third quarter net income of $1.917 billion and core income of $1.947 billion.

•Underwriting income of $1.432 billion pre-tax and underlying underwriting income of $1.736 billion pre-tax.

•Strong margins with a consolidated combined ratio of 86.8% and underlying combined ratio of 84.1%.

•Net favorable prior year reserve development in all three segments totaled $234 million pre-tax.

•Net written premiums of $11.480 billion.

•Record net investment income of $1.098 billion pre-tax ($908 million after-tax) increased 6%.

•Total capital of $1.769 billion returned to shareholders, including $1.508 billion of share repurchases.

New York, October 16, 2026 — The Travelers Companies, Inc. today reported net income of $1.917 billion, or $9.04 per diluted share, for the quarter ended September 30, 2026, compared to $1.888 billion, or $8.24 per diluted share, in the prior year quarter. Core income in the current quarter was $1.947 billion, or $9.18 per diluted share, compared to $1.867 billion, or $8.14 per diluted share, in the prior year quarter. Core income increased primarily due to higher net favorable prior year reserve development and higher net investment income, partially offset by higher catastrophe losses. Net realized investment losses in the current quarter were $34 million pre-tax ($30 million after-tax), compared to net realized investment gains of $27 million pre-tax ($21 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) Three Months Ended September 30, Nine Months Ended September 30,

2026 2025 Change 2026 2025 Change

Net written premiums $ 11,480 $ 11,473 — % $ 33,347 $ 33,531 (1) %

Total revenues $ 12,412 $ 12,470 — $ 36,489 $ 36,396 —

Net income $ 1,917 $ 1,888 2 $ 5,836 $ 3,792 54

per diluted share $ 9.04 $ 8.24 10 $ 27.05 $ 16.45 64

Core income $ 1,947 $ 1,867 4 $ 5,803 $ 3,814 52

per diluted share $ 9.18 $ 8.14 13 $ 26.90 $ 16.54 63

Diluted weighted average shares outstanding 210.6 227.5 (7) 214.2 228.9 (6)

Combined ratio 86.8 % 87.3 % (0.5) pts 86.3 % 93.2 % (6.9) pts

Underlying combined ratio 84.1 % 83.9 % 0.2 pts 84.5 % 84.4 % 0.1 pts

Return on equity 24.7 % 24.7 % — pts 24.3 % 17.3 % 7.0 pts

Core return on equity 22.1 % 22.6 % (0.5) pts 22.3 % 15.8 % 6.5 pts

As of Change From

September 30, 2026 December 31, 2025 September 30, 2025 December 31, 2025 September 30, 2025

Book value per share $ 141.48 $ 151.21 $ 141.72 (6) % — %

Adjusted book value per share 172.47 158.01 150.55 9 % 15 %

See Glossary of Financial Measures for definitions and the statistical supplement for additional financial data.

“We are pleased to report excellent third quarter results,” said Alan Schnitzer, Chairman and Chief Executive Officer. “It was another in a run of successful quarters, with very strong underwriting performance across all three segments and a record result from our investment portfolio. Core income for the quarter was $1.9 billion, or $9.18 per diluted share. Core return on equity for the quarter was 22.1%, bringing core return on equity over the last four quarters to 24.1%. Third quarter underwriting income of $1.4 billion pre-tax benefited from continued strong levels of underlying underwriting income and net favorable prior year development. Profitability was excellent on both a reported and underlying basis. The combined ratio improved to 86.8%, and the underlying combined ratio remained very strong at 84.1%.

“Our high-quality investment portfolio generated after-tax net investment income of $908 million, an increase of 7%. These results, along with our exceptionally strong balance sheet, enabled us to return $1.8 billion of excess capital to our shareholders during the quarter, including $1.5 billion of share repurchases.

“Through disciplined marketplace execution across all three segments, we generated net written premiums in the quarter of $11.5 billion. In Business Insurance, we grew in every line other than Property, generating net written premiums of $5.9 billion, up 4% from the prior year quarter adjusting for the sale of our Canadian businesses. Renewal premium change in the segment was 4.1%, including renewal premium change of 5.4% in our core Middle Market business and 7.8% in our small commercial Select business. Excluding the Property line, renewal premium change in the segment was 7.0%. Retention remained very strong at 86% and was higher or stable in every line. Renewal premium change was by and large orderly and when viewed together with retention and returns reflects excellent execution. New business was a third quarter record at $699 million, up 4% over the prior year quarter.

“In Bond & Specialty Insurance, we grew net written premiums by 12% to $1.2 billion. In our high-quality Management Liability business renewal premium change improved sequentially to 3.8% while retention remained steady at an excellent 89%. New business in the segment was up 18% over the prior year quarter. In our leading Surety business, we grew net written premiums by 21%, reflecting continued strong production across the portfolio.

“In Personal Insurance, we generated net written premiums of $4.4 billion, with solid retention in both Auto and Homeowners and higher new business in our Homeowners business.

“Our strong underwriting and investment results through the first nine months of the year reflect the strength of our franchise. We are well positioned to finish the year strong. That momentum, and the advances we are making on our innovation agenda, give us real confidence heading into 2027 and beyond.”

Consolidated Results

Three Months Ended September 30, Nine Months Ended September 30,

($ in millions and pre-tax, unless noted otherwise) 2026 2025 Change 2026 2025 Change

Underwriting gain: $ 1,432 $ 1,378 $ 54 $ 4,343 $ 2,095 $ 2,248

Underwriting gain includes:

Net favorable prior year reserve development 234 22 212 1,225 715 510

Catastrophes, net of reinsurance (538) (402) (136) (1,817) (3,595) 1,778

Net investment income 1,098 1,033 65 3,176 2,905 271

Other income (expense), including interest expense

(127) (94) (33) (339) (279) (60)

Core income before income taxes 2,403 2,317 86 7,180 4,721 2,459

Income tax expense 456 450 6 1,377 907 470

Core income 1,947 1,867 80 5,803 3,814 1,989

Net realized investment gains (losses) after income taxes (30) 21 (51) 33 (22) 55

Net income $ 1,917 $ 1,888 $ 29 $ 5,836 $ 3,792 $ 2,044

Combined ratio 86.8 % 87.3 % (0.5) pts 86.3 % 93.2 % (6.9) pts

Impact on combined ratio

Net favorable prior year reserve development (2.1) pts (0.2) pts (1.9) pts (3.8) pts (2.2) pts (1.6) pts

Catastrophes, net of reinsurance 4.8 pts 3.6 pts 1.2 pts 5.6 pts 11.0 pts (5.4) pts

Underlying combined ratio 84.1 % 83.9 % 0.2 pts 84.5 % 84.4 % 0.1 pts

Net written premiums

Business Insurance $ 5,868 $ 5,675 3 % $ 17,638 $ 17,165 3 %

Bond & Specialty Insurance 1,209 1,080 12 3,512 3,164 11

Personal Insurance 4,403 4,718 (7) 12,197 13,202 (8)

Total $ 11,480 $ 11,473 — % $ 33,347 $ 33,531 (1) %

Third Quarter 2026 Results

(All comparisons vs. third quarter 2025, unless noted otherwise)

Net income of $1.917 billion increased $29 million, driven by higher core income, partially offset by net realized investment losses compared to net realized investment gains in the prior year quarter. Core income of $1.947 billion increased $80 million, primarily due to higher net favorable prior year reserve development and higher net investment income, partially offset by higher catastrophe losses. Net realized investment losses were $34 million pre-tax ($30 million after-tax), compared to net realized investment gains of $27 million pre-tax ($21 million after-tax) in the prior year quarter.

Combined ratio:

•The combined ratio of 86.8% improved 0.5 points due to higher net favorable prior year reserve development (1.9 points), partially offset by higher catastrophe losses (1.2 points) and a higher underlying combined ratio (0.2 points).

•The underlying combined ratio was an excellent 84.1%. See below for further details by segment.

•Net favorable prior year reserve development occurred in all segments, including an addition to asbestos reserves of $295 million. See below for further details by segment.

•Catastrophe losses primarily resulted from severe wind and hail storms in multiple states.

Net investment income of $1.098 billion pre-tax ($908 million after-tax) increased 6%, driven by the long-term fixed income investment portfolio which benefited from a higher yield and growth in average invested assets.

Net written premiums of $11.480 billion increased slightly over the prior year quarter. Net written premiums in the prior year quarter included $240 million related to the Canadian operations which the Company divested in the first quarter of 2026. Excluding the impact of the sale, net written premiums increased 2% over the prior year quarter. See below for further details by segment.

Year-to-Date 2026 Results

(All comparisons vs. year-to-date 2025, unless noted otherwise)

Net income of $5.836 billion increased $2.044 billion, driven by higher core income and net realized investment gains compared to net realized investment losses in the prior year period. Core income of $5.803 billion increased $1.989 billion, primarily due to lower catastrophe losses, higher net favorable prior year reserve development and higher net investment income. Net realized investment gains were $75 million pre-tax ($33 million after-tax), compared to net realized investment losses of $28 million pre-tax ($22 million after-tax) in the prior year period.

Combined ratio:

•The combined ratio of 86.3% improved 6.9 points due to lower catastrophe losses (5.4 points) and higher net favorable prior year reserve development (1.6 points), partially offset by a higher underlying combined ratio (0.1 points).

•The underlying combined ratio was an excellent 84.5%. See below for further details by segment.

•Net favorable prior year reserve development occurred in all segments. See below for further details by segment.

•Catastrophe losses included the third quarter events described above, as well as severe wind and hail storms and winter storms in multiple states in the first six months of 2026.

Net investment income of $3.176 billion pre-tax ($2.624 billion after-tax) increased 9%, driven by the same factors described above for the third quarter of 2026.

Net written premiums of $33.347 billion decreased 1%. Net written premiums in the prior year period included $736 million related to the Canadian operations which the Company divested in the first quarter of 2026. Excluding the impact of the sale, net written premiums increased 2% over the prior year period. See below for further details by segment.

Shareholders’ Equity

Shareholders’ equity of $28.995 billion decreased 12% from year-end 2025, primarily due to higher net unrealized investment losses, common share repurchases and dividends to shareholders, partially offset by net income of $5.836 billion. Net unrealized investment losses included in shareholders’ equity were $8.049 billion pre-tax ($6.352 billion after-tax), compared to $1.862 billion pre-tax ($1.478 billion after-tax) at year-end 2025. The increase in net unrealized investment losses was driven by higher interest rates. Book value per share of $141.48 decreased 6% from year-end 2025. Adjusted book value per share of $172.47, which excludes net unrealized investment losses, increased 9% over year-end 2025.

The Company repurchased 4.0 million shares of its common stock during the third quarter at an average price of $376.00 per share for a total cost of $1.508 billion. At September 30, 2026, the Company had $2.415 billion of capacity remaining under its share repurchase authorizations approved by the Board of Directors. At the end of the quarter, statutory capital and surplus was $31.596 billion, and the ratio of debt-to-capital was 25.3%. The ratio of debt-to-capital excluding after-tax net unrealized investment losses included in shareholders’ equity was 21.7%, within the Company’s target range of 15% to 25%.

The Board of Directors declared a regular quarterly dividend of $1.25 per share. The dividend is payable December 31, 2026 to shareholders of record at the close of business on December 10, 2026.

Business Insurance Segment Financial Results

Three Months Ended September 30, Nine Months Ended September 30,

($ in millions and pre-tax, unless noted otherwise) 2026 2025 Change 2026 2025 Change

Underwriting gain: $ 522 $ 392 $ 130 $ 1,580 $ 933 $ 647

Underwriting gain includes:

Net favorable (unfavorable) prior year reserve development 41 (125) 166 522 28 494

Catastrophes, net of reinsurance

(157) (139) (18) (774) (1,016) 242

Net investment income 766 727 39 2,236 2,045 191

Other income (expense) (11) (1) (10) (6) (8) 2

Segment income before income taxes 1,277 1,118 159 3,810 2,970 840

Income tax expense 241 211 30 737 567 170

Segment income $ 1,036 $ 907 $ 129 $ 3,073 $ 2,403 $ 670

Combined ratio 90.9 % 92.9 % (2.0) pts 90.5 % 94.2 % (3.7) pts

Impact on combined ratio

Net (favorable) unfavorable prior year reserve development (0.7) pts 2.2 pts (2.9) pts (3.1) pts (0.2) pts (2.9) pts

Catastrophes, net of reinsurance

2.7 pts 2.4 pts 0.3 pts 4.6 pts 6.1 pts (1.5) pts

Underlying combined ratio 88.9 % 88.3 % 0.6 pts 89.0 % 88.3 % 0.7 pts

Net written premiums by market

Domestic

Select Accounts $ 932 $ 920 1 % $ 2,978 $ 2,900 3 %

Middle Market 3,448 3,232 7 10,012 9,432 6

National Accounts 286 273 5 973 914 6

National Property and Other 809 841 (4) 2,366 2,446 (3)

Total Domestic 5,475 5,266 4 16,329 15,692 4

International 393 409 (4) 1,309 1,473 (11)

Total $ 5,868 $ 5,675 3 % $ 17,638 $ 17,165 3 %

Third Quarter 2026 Results

(All comparisons vs. third quarter 2025, unless noted otherwise)

Segment income for Business Insurance was $1.036 billion after-tax, an increase of $129 million. Segment income increased primarily due to net favorable prior year reserve development compared to net unfavorable prior year reserve development in the prior year quarter and higher net investment income, partially offset by a lower underlying underwriting gain (i.e., excluding net prior year reserve development and catastrophe losses) and higher catastrophe losses.

Combined ratio:

•The combined ratio of 90.9% improved 2.0 points due to net favorable prior year reserve development compared to net unfavorable prior year reserve development in the prior year quarter (2.9 points), partially offset by a higher underlying combined ratio (0.6 points) and higher catastrophe losses (0.3 points).

•The underlying combined ratio was an excellent 88.9%.

•Net favorable prior year reserve development was primarily driven by better than expected loss experience in all major product lines primarily for recent accident years, partially offset by an addition to asbestos reserves of $295 million.

Net written premiums of $5.868 billion increased 3%. Net written premiums in the prior year quarter included $59 million related to the Canadian operations which the Company divested in the first quarter of 2026. Excluding the impact of the sale, net written premiums grew 4%.

Year-to-Date 2026 Results

(All comparisons vs. year-to-date 2025, unless noted otherwise)

Segment income for Business Insurance was $3.073 billion after-tax, an increase of $670 million. Segment income increased primarily due to higher net favorable prior year reserve development, lower catastrophe losses and higher net investment income, partially offset by a lower underlying underwriting gain.

Combined ratio:

•The combined ratio of 90.5% improved 3.7 points due to higher net favorable prior year reserve development (2.9 points) and lower catastrophe losses (1.5 points), partially offset by a higher underlying combined ratio (0.7 points).

•The underlying combined ratio was an excellent 89.0%.

•Net favorable prior year reserve development was primarily driven by better than expected loss experience in all major product lines for recent accident years, partially offset by an addition to reserves related to run-off operations, including an addition to asbestos reserves of $295 million.

Net written premiums of $17.638 billion increased 3%. Net written premiums in the prior year period included $205 million related to the Canadian operations which the Company divested in the first quarter of 2026. Excluding the impact of the sale, net written premiums grew 4%.

Bond & Specialty Insurance Segment Financial Results

Three Months Ended September 30, Nine Months Ended September 30,

($ in millions and pre-tax, unless noted otherwise) 2026 2025 Change 2026 2025 Change

Underwriting gain: $ 246 $ 188 $ 58 $ 590 $ 554 $ 36

Underwriting gain includes:

Net favorable prior year reserve development 95 43 52 235 191 44

Catastrophes, net of reinsurance (1) — (1) (13) (24) 11

Net investment income 127 116 11 353 325 28

Other income 5 7 (2) 12 15 (3)

Segment income before income taxes 378 311 67 955 894 61

Income tax expense 69 61 8 158 180 (22)

Segment income $ 309 $ 250 $ 59 $ 797 $ 714 $ 83

Combined ratio 77.3 % 81.6 % (4.3) pts 81.0 % 81.5 % (0.5) pts

Impact on combined ratio

Net favorable prior year reserve development (8.6) pts (4.2) pts (4.4) pts (7.4) pts (6.2) pts (1.2) pts

Catastrophes, net of reinsurance 0.1 pts — pts 0.1 pts 0.4 pts 0.8 pts (0.4) pts

Underlying combined ratio 85.8 % 85.8 % — pts 88.0 % 86.9 % 1.1 pts

Net written premiums

Domestic

Management Liability $ 649 $ 613 6 % $ 1,832 $ 1,755 4 %

Surety 414 342 21 1,275 1,017 25

Total Domestic 1,063 955 11 3,107 2,772 12

International 146 125 17 405 392 3

Total $ 1,209 $ 1,080 12 % $ 3,512 $ 3,164 11 %

Third Quarter 2026 Results

(All comparisons vs. third quarter 2025, unless noted otherwise)

Segment income for Bond & Specialty Insurance was $309 million after-tax, an increase of $59 million. Segment income increased primarily due to higher net favorable prior year reserve development, a higher underlying underwriting gain and higher net investment income.

Combined ratio:

•The combined ratio of 77.3% improved 4.3 points due to higher net favorable prior year reserve development (4.4 points), partially offset by higher catastrophe losses (0.1 points).

•The underlying combined ratio was an excellent 85.8%.

•Net favorable prior year reserve development was primarily driven by better than expected loss experience in the fidelity and surety product line for recent accident years and in the general liability product line for management liability coverages for multiple accident years.

Net written premiums of $1.209 billion increased 12%. Net written premiums in the prior year quarter included $14 million related to the Canadian operations which the Company divested in the first quarter of 2026. Excluding the impact of the sale, net written premiums grew 13%.

Year-to-Date 2026 Results

(All comparisons vs. year-to-date 2025, unless noted otherwise)

Segment income for Bond & Specialty Insurance was $797 million after-tax, an increase of $83 million. Segment income increased primarily due to higher net favorable prior year reserve development, higher net investment income, a higher underlying underwriting gain and lower catastrophe losses. The underlying underwriting gain benefited from a non-recurring tax item.

Combined ratio:

•The combined ratio of 81.0% improved 0.5 points due to higher net favorable prior year reserve development (1.2 points) and lower catastrophe losses (0.4 points), partially offset by a higher underlying combined ratio (1.1 points).

•The underlying combined ratio was an excellent 88.0%.

•Net favorable prior year reserve development was primarily driven by the same factors described above for the third quarter of 2026.

Net written premiums of $3.512 billion increased 11%. Net written premiums in the prior year period included $40 million related to the Canadian operations which the Company divested in the first quarter of 2026. Excluding the impact of the sale, net written premiums grew 12%.

Personal Insurance Segment Financial Results

Three Months Ended September 30, Nine Months Ended September 30,

($ in millions and pre-tax, unless noted otherwise) 2026 2025 Change 2026 2025 Change

Underwriting gain: $ 664 $ 798 $ (134) $ 2,173 $ 608 $ 1,565

Underwriting gain includes:

Net favorable prior year reserve development 98 104 (6) 468 496 (28)

Catastrophes, net of reinsurance (380) (263) (117) (1,030) (2,555) 1,525

Net investment income 205 190 15 587 535 52

Other income 10 24 (14) 41 59 (18)

Segment income before income taxes 879 1,012 (133) 2,801 1,202 1,599

Income tax expense 173 205 (32) 564 235 329

Segment income $ 706 $ 807 $ (101) $ 2,237 $ 967 $ 1,270

Combined ratio 83.5 % 81.3 % 2.2 pts 82.0 % 94.8 % (12.8) pts

Impact on combined ratio

Net favorable prior year reserve development (2.4) pts (2.4) pts — pts (3.8) pts (3.8) pts — pts

Catastrophes, net of reinsurance 9.2 pts 6.0 pts 3.2 pts 8.4 pts 19.7 pts (11.3) pts

Underlying combined ratio 76.7 % 77.7 % (1.0) pts 77.4 % 78.9 % (1.5) pts

Net written premiums

Domestic

Automobile $ 1,892 $ 2,062 (8) % $ 5,506 $ 5,889 (7) %

Homeowners and Other 2,511 2,489 1 6,691 6,822 (2)

Total Domestic 4,403 4,551 (3) 12,197 12,711 (4)

International — 167 (100) — 491 (100)

Total $ 4,403 $ 4,718 (7) % $ 12,197 $ 13,202 (8) %

Third Quarter 2026 Results

(All comparisons vs. third quarter 2025, unless noted otherwise)

Segment income for Personal Insurance was $706 million after-tax, a decrease of $101 million. Segment income decreased primarily due to higher catastrophe losses.

Combined ratio:

•The combined ratio of 83.5% increased 2.2 points due to higher catastrophe losses (3.2 points), partially offset by an improvement in the underlying combined ratio (1.0 points).

•The underlying combined ratio of 76.7% improved 1.0 points, primarily reflecting improvement in Automobile.

•Net favorable prior year reserve development was primarily driven by better than expected loss experience in both the Homeowners and Other and Automobile product lines for recent accident years.

Net written premiums of $4.403 billion decreased 7%. Net written premiums in the prior year quarter included $167 million related to the Canadian operations which the Company divested in the first quarter of 2026. Excluding the impact of the sale, net written premiums decreased 3%.

Year-to-Date 2026 Results

(All comparisons vs. year-to-date 2025, unless noted otherwise)

Segment income for Personal Insurance was $2.237 billion after-tax, an increase of $1.270 billion. Segment income increased primarily due to lower catastrophe losses, a higher underlying underwriting gain and higher net investment income, partially offset by lower net favorable prior year reserve development.

Combined ratio:

•The combined ratio of 82.0% improved 12.8 points due to lower catastrophe losses (11.3 points) and an improvement in the underlying combined ratio (1.5 points).

•The underlying combined ratio of 77.4% improved 1.5 points, reflecting improvement in both Automobile and Homeowners and Other.

•Net favorable prior year reserve development was primarily driven by better than expected loss experience in both the Automobile and Homeowners and Other product lines for recent accident years.

Net written premiums of $12.197 billion decreased 8%. Net written premiums in the prior year period included $491 million related to the Canadian operations which the Company divested in the first quarter of 2026. Excluding the impact of the sale, net written premiums decreased 4%.

Financial Supplement and Conference Call

The information in this press release should be read in conjunction with the financial supplement that is available on our website at Travelers.com. Travelers management will discuss the contents of this release and other relevant topics via webcast at 9:00 a.m. Eastern (8:00 a.m. Central) on Friday, October 16, 2026. Investors can access the call via webcast at investor.travelers.com and by dialing 1.833.461.5787 within the United States or 1.585.542.9983 outside the United States. Prior to the webcast, a slide presentation pertaining to the quarterly earnings will be available on the Company’s website.

Following the live event, replays will be available via webcast for one year at investor.travelers.com and by telephone for seven days by dialing 1.833.309.1852 within the United States or 1.929.828.5978 outside the United States. All callers should use conference ID 686305383.

About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $49 billion in 2025. For more information, visit Travelers.com.

Travelers may use its website and/or social media outlets, such as Facebook and X, as distribution channels of material Company information. Financial and other important information regarding the Company is routinely accessible through and posted on our website at investor.travelers.com, our Facebook page at facebook.com/travelers and our X account (@Travelers) at x.com/travelers. In addition, you may automatically receive email alerts and other information about Travelers when you enroll your email address by visiting the Email Notifications section at investor.travelers.com.

Travelers is organized into the following reportable business segments:

Personal Insurance - Personal Insurance offers a broad range of property and casualty insurance products and services in the United States covering individuals’ personal risks. Personal Insurance’s primary products of automobile and homeowners insurance are complemented by a broad suite of related coverages.

* * * * *

Forward-Looking Statements

This press release contains, and management may make, certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Words such as “may,” “will,” “should,” “likely,” “probably,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “views,” “ensures,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements include, among other things, the Company’s statements about:

•the Company’s outlook, the impact of trends on its business and its future results of operations and financial condition;

•the impact of legislative or regulatory actions or court decisions;

•share repurchase plans;

•future pension plan contributions;

•the sufficiency of the Company’s reserves, including asbestos;

•the impact of emerging claims issues as well as other insurance and non-insurance litigation;

•the cost and availability of reinsurance coverage;

•catastrophe losses and modeling;

•the impact of investment, economic and underwriting market conditions, including interest rates, tariffs and inflation;

•the Company’s approach to managing its investment portfolio;

•the impact of changing climate conditions;

•strategic and operational initiatives to improve growth, profitability and competitiveness;

•the Company’s competitive advantages and innovation agenda, including executing on that agenda with respect to artificial intelligence;

•the Company’s cybersecurity policies and practices;

•new product offerings;

•the impact of developments in the tort environment; and

•the impact of developments in the geopolitical environment, including the war with Iran.

The Company cautions investors that such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond the Company’s control, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements.

Some of the factors that could cause actual results to differ include, but are not limited to, the following:

Insurance-Related Risks

•high levels of catastrophe losses;

•actual claims may exceed the Company’s claims and claim adjustment expense reserves, the estimated level of claims and claim adjustment expense reserves may increase, or increases in loss costs may not be offset with sufficient price increases, including as a result of, among other things, changes in the legal/tort, regulatory and economic environments, including increased inflation and the impact of tariffs;

•the Company’s continued exposure to asbestos claims and related litigation;

•the Company is exposed to, and may face adverse developments involving, mass tort claims; and

•the effects of emerging claim and coverage issues on the Company’s business are uncertain, and court decisions or legislative changes that take place after the Company issues its policies can result in an unexpected increase in the number of claims.

Financial, Economic and Credit Risks

•a period of financial market disruption or an economic downturn;

•the Company’s investment portfolio is subject to credit and interest rate risk, and may suffer reduced or low returns or material realized or unrealized losses;

•the Company is exposed to credit risk related to reinsurance and structured settlements, and reinsurance coverage may not be available to the Company;

•the Company is exposed to credit risk in certain of its insurance operations and with respect to certain guarantee or indemnification arrangements that it has with third parties;

•a downgrade in the Company’s claims-paying and financial strength ratings; and

•the Company’s insurance subsidiaries may be unable to pay dividends to the Company’s holding company in sufficient amounts.

Business and Operational Risks

•the intense competition that the Company faces, including with respect to attracting and retaining employees, and the impact of innovation, technological change, including with respect to artificial intelligence, and changing customer preferences on the insurance industry and the markets in which it operates;

•disruptions to the Company’s relationships with its independent agents and brokers or the Company’s inability to manage effectively a changing distribution landscape;

•the Company’s efforts to develop new products or services, expand in targeted markets, improve business processes and workflows or pursue acquisitions or dispositions may not be successful and may create enhanced risks;

•the Company's pricing and capital models may provide materially different indications than actual results;

•loss of or significant restrictions on the use of particular types of underwriting criteria, such as credit scoring, or other data or methodologies, in the pricing and underwriting of the Company’s products;

•the Company is subject to additional risks associated with its business outside the United States; and

•future pandemics.

Technology and Intellectual Property Risks

•as a result of cyber attacks (the risk of which could be exacerbated by geopolitical tensions, including the war with Iran) or otherwise, the Company may experience difficulties with technology, data and network security or outsourcing relationships;

•the Company’s dependence on effective information technology systems and on continuing to develop and implement improvements in technology, including with respect to artificial intelligence; and

•the Company may be unable to protect and enforce its own intellectual property or may be subject to claims for infringing the intellectual property of others.

Regulatory and Compliance Risks

•changes in regulation, including changes in tax laws; and

•the Company's compliance controls may not be effective.

In addition, the Company’s share repurchase plans depend on a variety of factors, including the Company’s financial position, earnings, share price, catastrophe losses, maintaining appropriate capital levels for the Company’s business operations, changes in the levels of written premiums, funding of the Company’s qualified pension plan, regulatory capital requirements of the Company’s operating subsidiaries, legal requirements, regulatory constraints, other investment opportunities (including mergers and acquisitions and related financings), market conditions, changes in tax laws and other factors.

Our forward-looking statements speak only as of the date of this press release or as of the date they are made, and we undertake no obligation to update forward-looking statements. For a more detailed discussion of these factors, see the information under the captions “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Forward Looking Statements” in the quarterly report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on October 16, 2026, and in our most recent annual report on Form 10-K filed with the SEC on February 12, 2026, in each case as updated by our periodic filings with the SEC.

GLOSSARY OF FINANCIAL MEASURES AND RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES

The following measures are used by the Company’s management to evaluate financial performance against historical results, to establish performance targets on a consolidated basis and for other reasons as discussed below. In some cases, these measures are considered non-GAAP financial measures under applicable SEC rules because they are not displayed as separate line items in the consolidated financial statements or are not required to be disclosed in the notes to financial statements or, in some cases, include or exclude certain items not ordinarily included or excluded in the most comparable GAAP financial measure. Reconciliations of these measures to the most comparable GAAP measures also follow.

In the opinion of the Company’s management, a discussion of these measures provides investors, financial analysts, rating agencies and other financial statement users with a better understanding of the significant factors that comprise the Company’s periodic results of operations and how management evaluates the Company’s financial performance.

Some of these measures exclude net realized investment gains (losses), net of tax, and/or net unrealized investment gains (losses), net of tax, included in shareholders’ equity, which can be significantly impacted by both discretionary and other economic factors and are not necessarily indicative of operating trends.

Other companies may calculate these measures differently, and, therefore, their measures may not be comparable to those used by the Company’s management.

RECONCILIATION OF NET INCOME TO CORE INCOME AND CERTAIN OTHER NON-GAAP MEASURES

Core income (loss) is consolidated net income (loss) excluding the after-tax impact of net realized investment gains (losses), discontinued operations, the effect of a change in tax laws and tax rates at enactment, and cumulative effect of changes in accounting principles when applicable. Segment income (loss) is determined in the same manner as core income (loss) on a segment basis. Management uses segment income (loss) to analyze each segment’s performance and as a tool in making business decisions. Financial statement users also consider core income (loss) when analyzing the results and trends of insurance companies. Core income (loss) per share is core income (loss) on a per common share basis.

Reconciliation of Net Income to Core Income less Preferred Dividends

Three Months Ended September 30, Nine Months Ended September 30, Twelve Months Ended September 30,

($ in millions, after-tax) 2026 2025 2026 2025 2026 2025

Net income $ 1,917 $ 1,888 $ 5,836 $ 3,792 $ 8,332 $ 5,874

Adjustments:

Net realized investment (gains) losses 30 (21) (33) 22 (18) 66

Core income $ 1,947 $ 1,867 $ 5,803 $ 3,814 $ 8,314 $ 5,940

Three Months Ended September 30, Nine Months Ended September 30,

($ in millions, pre-tax) 2026 2025 2026 2025

Net income $ 2,369 $ 2,344 $ 7,255 $ 4,693

Adjustments:

Net realized investment (gains) losses 34 (27) (75) 28

Core income $ 2,403 $ 2,317 $ 7,180 $ 4,721

Twelve Months Ended December 31, Average Annual

($ in millions, after-tax) 2025 2024 2023 2022 2021 2005 - 2020

Net income $ 6,288 $ 4,999 $ 2,991 $ 2,842 $ 3,662 $ 2,988

Less: Loss from discontinued operations — — — — — (27)

Income from continuing operations 6,288 4,999 2,991 2,842 3,662 3,015

Adjustments:

Net realized investment (gains) losses 37 26 81 156 (132) (42)

Impact of changes in tax laws and/or tax rates (1) (2) — — — — (8) 8

Core income 6,325 5,025 3,072 2,998 3,522 2,981

Less: Preferred dividends — — — — — 1

Core income, less preferred dividends $ 6,325 $ 5,025 $ 3,072 $ 2,998 $ 3,522 $ 2,980

(1) Impact is recognized in the accounting period in which the change is enacted

(2) 2017 reflects impact of Tax Cuts and Jobs Act of 2017 (TCJA)

Reconciliation of Net Income per Share to Core Income per Share on a Diluted Basis

Three Months Ended September 30, Nine Months Ended September 30,

2026 2025 2026 2025

Diluted income per share

Net income $ 9.04 $ 8.24 $ 27.05 $ 16.45

Adjustments:

Net realized investment (gains) losses, after-tax 0.14 (0.10) (0.15) 0.09

Core income $ 9.18 $ 8.14 $ 26.90 $ 16.54

Reconciliation of Segment Income to Total Core Income

Three Months Ended September 30, Nine Months Ended September 30,

($ in millions, after-tax) 2026 2025 2026 2025

Business Insurance $ 1,036 $ 907 $ 3,073 $ 2,403

Bond & Specialty Insurance 309 250 797 714

Personal Insurance 706 807 2,237 967

Total segment income 2,051 1,964 6,107 4,084

Interest Expense and Other (104) (97) (304) (270)

Total core income $ 1,947 $ 1,867 $ 5,803 $ 3,814

RECONCILIATION OF SHAREHOLDERS’ EQUITY TO ADJUSTED SHAREHOLDERS’ EQUITY AND CALCULATION OF RETURN ON EQUITY AND CORE RETURN ON EQUITY

Adjusted shareholders’ equity is shareholders’ equity excluding net unrealized investment gains (losses), net of tax, included in shareholders’ equity, net realized investment gains (losses), net of tax, for the period presented, the effect of a change in tax laws and tax rates at enactment (excluding the portion related to net unrealized investment gains (losses)), preferred stock and discontinued operations.

Reconciliation of Shareholders’ Equity to Adjusted Shareholders’ Equity

As of September 30,

($ in millions) 2026 2025

Shareholders’ equity $ 28,995 $ 31,609

Adjustments:

Net unrealized investment losses, net of tax, included in shareholders’ equity 6,352 1,970

Net realized investment (gains) losses, net of tax (33) 22

Adjusted shareholders’ equity $ 35,314 $ 33,601

As of December 31, Average Annual

($ in millions) 2025 2024 2023 2022 2021 2005 - 2020

Shareholders’ equity $ 32,894 $ 27,864 $ 24,921 $ 21,560 $ 28,887 $ 25,023

Adjustments:

Net unrealized investment (gains) losses, net of tax, included in shareholders’ equity 1,478 3,640 3,129 4,898 (2,415) (1,473)

Net realized investment (gains) losses, net of tax 37 26 81 156 (132) (42)

Impact of changes in tax laws and/or tax rates (1) (2) — — — — (8) 18

Preferred stock — — — — — (39)

Loss from discontinued operations — — — — — 27

Adjusted shareholders’ equity $ 34,409 $ 31,530 $ 28,131 $ 26,614 $ 26,332 $ 23,514

(1) Impact is recognized in the accounting period in which the change is enacted

(2) 2017 reflects impact of Tax Cuts and Jobs Act of 2017 (TCJA)

Return on equity is the ratio of annualized net income (loss) less preferred dividends to average shareholders’ equity for the periods presented. Core return on equity is the ratio of annualized core income (loss) less preferred dividends to adjusted average shareholders’ equity for the periods presented. In the opinion of the Company’s management, these are important indicators of how well management creates value for its shareholders through its operating activities and its capital management.

Average shareholders’ equity is (a) the sum of total shareholders’ equity excluding preferred stock at the beginning and end of each of the quarters for the period presented divided by (b) the number of quarters in the period presented times two. Adjusted average shareholders’ equity is (a) the sum of total adjusted shareholders’ equity at the beginning and end of each of the quarters for the period presented divided by (b) the number of quarters in the period presented times two.

Calculation of Return on Equity and Core Return on Equity

Three Months Ended September 30, Nine Months Ended September 30, Twelve Months Ended September 30,

($ in millions, after-tax) 2026 2025 2026 2025 2026 2025

Annualized net income $ 7,670 $ 7,554 $ 7,782 $ 5,057 $ 8,332 $ 5,874

Average shareholders’ equity 31,058 30,563 32,017 29,148 32,076 28,806

Return on equity 24.7 % 24.7 % 24.3 % 17.3 % 26.0 % 20.4 %

Annualized core income $ 7,788 $ 7,467 $ 7,738 $ 5,085 $ 8,314 $ 5,940

Adjusted average shareholders’ equity 35,228 33,053 34,762 32,197 34,568 31,817

Core return on equity 22.1 % 22.6 % 22.3 % 15.8 % 24.1 % 18.7 %

Twelve Months Ended December 31, Average Annual

($ in millions, after-tax) 2025 2024 2023 2022 2021 2005 - 2020

Net income, less preferred dividends $ 6,288 $ 4,999 $ 2,991 $ 2,842 $ 3,662 $ 2,987

Average shareholders’ equity 29,924 25,993 22,031 23,384 28,735 24,830

Return on equity 21.0 % 19.2 % 13.6 % 12.2 % 12.7 % 12.0 %

Core income, less preferred dividends $ 6,325 $ 5,025 $ 3,072 $ 2,998 $ 3,522 $ 2,980

Adjusted average shareholders’ equity 32,643 29,295 26,772 26,588 25,718 23,421

Core return on equity 19.4 % 17.2 % 11.5 % 11.3 % 13.7 % 12.7 %

RECONCILIATION OF NET INCOME TO UNDERWRITING GAIN EXCLUDING CERTAIN ITEMS

Underwriting gain (loss) is net earned premiums and fee income less claims and claim adjustment expenses and insurance-related expenses. In the opinion of the Company’s management, it is important to measure the profitability of each segment excluding the results of investing activities, which are managed separately from the insurance business. This measure is used to assess each segment’s business performance and as a tool in making business decisions. Underwriting gain, excluding the impact of catastrophes and net favorable (unfavorable) prior year loss reserve development, is the underwriting gain adjusted to exclude claims and claim adjustment expenses, reinstatement premiums and assessments related to catastrophes and loss reserve development related to time periods prior to the current year. In the opinion of the Company’s management, this measure is meaningful to users of the financial statements to understand the Company’s periodic earnings and the variability of earnings caused by the unpredictable nature (i.e., the timing and amount) of catastrophes and loss reserve development. This measure is also referred to as underlying underwriting gain, underlying underwriting margin, underlying underwriting income or underlying underwriting result.

core income (loss) and claims and claim adjustment expense reserves upon occurrence. A catastrophe may result in the payment of reinsurance reinstatement premiums and assessments from various pools.

The Company’s threshold for disclosing catastrophes is primarily determined at the reportable segment level. If a threshold for one segment or a combination thereof is reached and the other segments have losses from the same event, losses from the event are identified as catastrophe losses in the segment results and for the consolidated results of the Company. Additionally, an aggregate threshold is applied for international business across all reportable segments. The threshold for 2026 ranges from $20 million to $30 million of losses before reinsurance and taxes.

Net favorable (unfavorable) prior year loss reserve development is the increase or decrease in incurred claims and claim adjustment expenses as a result of the re-estimation of claims and claim adjustment expense reserves at successive valuation dates for a given group of claims, which may be related to one or more prior years. In the opinion of the Company’s management, a discussion of loss reserve development is meaningful to users of the financial statements as it allows them to assess the impact between prior and current year development on incurred claims and claim adjustment expenses, net and core income (loss), and changes in claims and claim adjustment expense reserve levels from period to period.

Reconciliation of Net Income to Pre-Tax Underlying Underwriting Income (also known as Underlying Underwriting Gain)

Three Months Ended September 30, Nine Months Ended September 30,

($ in millions, after-tax, except as noted) 2026 2025 2026 2025

Net income $ 1,917 $ 1,888 $ 5,836 $ 3,792

Net realized investment (gains) losses 30 (21) (33) 22

Core income 1,947 1,867 5,803 3,814

Net investment income (908) (850) (2,624) (2,387)

Other (income) expense, including interest expense 108 82 288 241

Underwriting income 1,147 1,099 3,467 1,668

Income tax expense on underwriting results 285 279 876 427

Pre-tax underwriting income 1,432 1,378 4,343 2,095

Pre-tax impact of net favorable prior year reserve development (234) (22) (1,225) (715)

Pre-tax impact of catastrophes 538 402 1,817 3,595

Pre-tax underlying underwriting income $ 1,736 $ 1,758 $ 4,935 $ 4,975

Reconciliation of Net Income to After-Tax Underlying Underwriting Income (also known as Underlying Underwriting Gain)

Three Months Ended September 30, Nine Months Ended September 30,

($ in millions, after-tax) 2026 2025 2026 2025

Net income $ 1,917 $ 1,888 $ 5,836 $ 3,792

Net realized investment (gains) losses 30 (21) (33) 22

Core income 1,947 1,867 5,803 3,814

Net investment income (908) (850) (2,624) (2,387)

Other (income) expense, including interest expense 108 82 288 241

Underwriting income 1,147 1,099 3,467 1,668

Impact of net favorable prior year reserve development (185) (16) (966) (562)

Impact of catastrophes 424 318 1,435 2,840

Underlying underwriting income $ 1,386 $ 1,401 $ 3,936 $ 3,946

Twelve Months Ended December 31,

($ in millions, after-tax) 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016

Net income $ 6,288 $ 4,999 $ 2,991 $ 2,842 $ 3,662 $ 2,697 $ 2,622 $ 2,523 $ 2,056 $ 3,014

Net realized investment (gains) losses 37 26 81 156 (132) (11) (85) (93) (142) (47)

Impact of changes in tax laws and/or tax rates (1) (2)

— — — — (8) — — — 129 —

Core income 6,325 5,025 3,072 2,998 3,522 2,686 2,537 2,430 2,043 2,967

Net investment income (3,254) (2,952) (2,436) (2,170) (2,541) (1,908) (2,097) (2,102) (1,872) (1,846)

Other (income) expense, including interest expense 326 308 337 277 235 232 214 248 179 78

Underwriting income 3,397 2,381 973 1,105 1,216 1,010 654 576 350 1,199

Impact of net (favorable) unfavorable prior year reserve development (815) (559) (113) (512) (424) (276) 47 (409) (378) (510)

Impact of catastrophes 2,915 2,632 2,361 1,480 1,459 1,274 699 1,355 1,267 576

Underlying underwriting income $ 5,497 $ 4,454 $ 3,221 $ 2,073 $ 2,251 $ 2,008 $ 1,400 $ 1,522 $ 1,239 $ 1,265

(1) Impact is recognized in the accounting period in which the change is enacted

(2) 2017 reflects impact of Tax Cuts and Jobs Act of 2017 (TCJA)

COMBINED RATIO AND ADJUSTMENTS FOR UNDERLYING COMBINED RATIO

Combined ratio: For Statutory Accounting Practices (SAP), the combined ratio is the sum of the SAP loss and LAE ratio and the SAP underwriting expense ratio as defined in the statutory financial statements required by insurance regulators. The combined ratio, as used in this earnings release, is the equivalent of, and is calculated in the same manner as, the SAP combined ratio except that the SAP underwriting expense ratio is based on net written premiums and the underwriting expense ratio as used in this earnings release is based on net earned premiums.

For SAP, the loss and LAE ratio is the ratio of incurred losses and loss adjustment expenses less certain administrative services fee income to net earned premiums as defined in the statutory financial statements required by insurance regulators. The loss and LAE ratio as used in this earnings release is calculated in the same manner as the SAP ratio.

For SAP, the underwriting expense ratio is the ratio of underwriting expenses incurred (including commissions paid), less certain administrative services fee income and billing and policy fees and other, to net written premiums as defined in the statutory financial statements required by insurance regulators. The underwriting expense ratio as used in this earnings release, is the ratio of underwriting expenses (including the amortization of deferred acquisition costs), less certain administrative services fee income and billing and policy fees and other, to net earned premiums.

The combined ratio, loss and LAE ratio, and underwriting expense ratio are used as indicators of the Company’s underwriting discipline, efficiency in acquiring and servicing its business and overall underwriting profitability. A combined ratio under 100% generally indicates an underwriting profit. A combined ratio over 100% generally indicates an underwriting loss.

Underlying combined ratio represents the combined ratio excluding the impact of net prior year reserve development and catastrophes. The underlying combined ratio is an indicator of the Company’s underwriting discipline and underwriting profitability for the current accident year.

Other companies’ method of computing similarly titled measures may not be comparable to the Company’s method of computing these ratios.

Calculation of the Combined Ratio

Three Months Ended September 30, Nine Months Ended September 30,

($ in millions, pre-tax) 2026 2025 2026 2025

Loss and loss adjustment expense ratio

Claims and claim adjustment expenses $ 6,487 $ 6,594 $ 18,791 $ 21,389

Less:

Policyholder dividends 12 12 32 35

Allocated fee income 50 48 147 138

Loss ratio numerator $ 6,425 $ 6,534 $ 18,612 $ 21,216

Underwriting expense ratio

Amortization of deferred acquisition costs $ 1,856 $ 1,849 $ 5,408 $ 5,429

General and administrative expenses (G&A) 1,582 1,572 4,688 4,576

Less:

Non-insurance G&A 131 131 399 353

Allocated fee income 73 79 223 232

Billing and policy fees and other 22 28 69 85

Expense ratio numerator $ 3,212 $ 3,183 $ 9,405 $ 9,335

Earned premium $ 11,103 $ 11,135 $ 32,461 $ 32,766

Combined ratio (1)

Loss and loss adjustment expense ratio 57.9 % 58.7 % 57.3 % 64.7 %

Underwriting expense ratio 28.9 % 28.6 % 29.0 % 28.5 %

Combined ratio 86.8 % 87.3 % 86.3 % 93.2 %

Impact on combined ratio:

Net favorable prior year reserve development (2.1) % (0.2) % (3.8) % (2.2) %

Catastrophes, net of reinsurance 4.8 % 3.6 % 5.6 % 11.0 %

Underlying combined ratio 84.1 % 83.9 % 84.5 % 84.4 %

(1) For purposes of computing ratios, billing and policy fees and other (which are a component of other revenues) are allocated as a reduction of underwriting expenses. In addition, fee income is allocated as a reduction of losses and loss adjustment expenses and underwriting expenses. These allocations are to conform the calculation of the combined ratio with statutory accounting. Additionally, general and administrative expenses include non-insurance expenses that are excluded from underwriting expenses, and accordingly, are excluded in calculating the combined ratio.

RECONCILIATION OF BOOK VALUE PER SHARE AND SHAREHOLDERS’ EQUITY TO CERTAIN NON-GAAP MEASURES

Book value per share is total common shareholders’ equity divided by the number of common shares outstanding. Adjusted book value per share is total common shareholders’ equity excluding net unrealized investment gains and losses, net of tax, included in shareholders’ equity, divided by the number of common shares outstanding. In the opinion of the Company’s management, adjusted book value per share is useful in an analysis of a property casualty company’s book value per share as it removes the effect of changing prices on invested assets (i.e., net unrealized investment gains (losses), net of tax), which do not have an equivalent impact on unpaid claims and claim adjustment expense reserves. Tangible book value per share is adjusted book value per share excluding the after-tax value of goodwill and other intangible assets divided by the number of common shares outstanding. In the opinion of the Company’s management, tangible book value per share is useful in an analysis of a property casualty company’s book value on a nominal basis as it removes certain effects of purchase accounting (i.e., goodwill and other intangible assets), in addition to the effect of changing prices on invested assets.

Reconciliation of Shareholders’ Equity to Tangible Shareholders’ Equity, Excluding Net Unrealized Investment Gains (Losses), Net of Tax and Calculation of Book Value Per Share, Adjusted Book Value Per Share and Tangible Book Value Per Share

As of

($ in millions, except per share amounts) September 30,

2026 December 31,

2025 September 30,

2025

Shareholders’ equity $ 28,995 $ 32,894 $ 31,609

Less: Net unrealized investment losses, net of tax, included in shareholders’ equity (6,352) (1,478) (1,970)

Common shareholders’ equity, excluding net unrealized investment losses, net of tax, included in shareholders’ equity 35,347 34,372 33,579

Less:

Goodwill (includes $208 million of goodwill classified as held for sale as of December 31, 2025) 4,060 4,274 4,271

Other intangible assets (includes $1 million of other intangible assets classified as held for sale as of December 31, 2025) 326 337 342

Impact of deferred tax on other intangible assets (49) (93) (92)

Tangible shareholders’ equity, excluding net unrealized investment losses, net of tax, included in shareholders’ equity $ 31,010 $ 29,854 $ 29,058

Common shares outstanding 204.9 217.5 223.0

Book value per share $ 141.48 $ 151.21 $ 141.72

Adjusted book value per share 172.47 158.01 150.55

Tangible book value per share, excluding net unrealized investment losses, net of tax, included in shareholders’ equity 151.31 137.24 130.28

RECONCILIATION OF TOTAL CAPITALIZATION TO TOTAL CAPITALIZATION EXCLUDING NET UNREALIZED INVESTMENT GAINS (LOSSES), NET OF TAX

Total capitalization is the sum of total shareholders’ equity and debt. Debt-to-capital ratio excluding net unrealized gains (losses) on investments, net of tax, included in shareholders’ equity, is the ratio of debt to total capitalization excluding the after-tax impact of net unrealized investment gains and losses included in shareholders’ equity. In the opinion of the Company’s management, the debt-to-capital ratio is useful in an analysis of the Company’s financial leverage.

As of

($ in millions) September 30,

2026 December 31,

2025

Debt $ 9,813 $ 9,267

Shareholders’ equity 28,995 32,894

Total capitalization

38,808 42,161

Less: Net unrealized investment losses, net of tax, included in shareholders’ equity (6,352) (1,478)

Total capitalization excluding net unrealized losses on investments, net of tax, included in shareholders’ equity $ 45,160 $ 43,639

Debt-to-capital ratio 25.3 % 22.0 %

Debt-to-capital ratio excluding net unrealized investment losses, net of tax, included in shareholders’ equity 21.7 % 21.2 %

RECONCILIATION OF INVESTED ASSETS TO INVESTED ASSETS EXCLUDING NET UNREALIZED INVESTMENT GAINS (LOSSES)

As of September 30,

($ in millions) 2026 2025

Invested assets $ 100,588 $ 103,684

Less: Net unrealized investment losses, pre-tax (8,049) (2,484)

Invested assets excluding net unrealized investment losses $ 108,637 $ 106,168

As of December 31,

($ in millions) 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016

Invested assets (1) $ 104,529 $ 94,223 $ 88,810 $ 80,454 $ 87,375 $ 84,423 $ 77,884 $ 72,278 $ 72,502 $ 70,488

Less: Net unrealized investment gains (losses), pre-tax (1,862) (4,609) (3,970) (6,220) 3,060 5,175 2,853 (137) 1,414 1,112

Invested assets excluding net unrealized investment gains (losses) $ 106,391 $ 98,832 $ 92,780 $ 86,674 $ 84,315 $ 79,248 $ 75,031 $ 72,415 $ 71,088 $ 69,376

(1) Includes $3,347 million of invested assets classified as held for sale as of December 31, 2025.

OTHER DEFINITIONS

Gross written premiums reflect the direct and assumed contractually determined amounts charged to policyholders for the effective period of the contract based on the terms and conditions of the insurance contract. Net written premiums reflect gross written premiums less premiums ceded to reinsurers.

For Business Insurance and Bond & Specialty Insurance, retention is the amount of premium available for renewal that was retained, excluding rate and exposure changes. For Personal Insurance, retention is the ratio of the expected number of renewal policies that will be retained throughout the annual policy period to the number of available renewal base policies. For all of the segments, renewal rate change represents the estimated change in average premium on policies that renew, excluding exposure changes. Exposure is the measure of risk used in the pricing of an insurance product. The change in exposure is the amount of change in premium on policies that renew attributable to the change in portfolio risk. Renewal premium change represents the estimated change in average premium on policies that renew, including rate and exposure changes. New business is the amount of written premium related to new policyholders and additional products sold to existing policyholders. These are operating statistics, which are in part dependent on the use of estimates and are therefore subject to change. For Business Insurance, retention, renewal premium change and new business exclude National Accounts. For Bond & Specialty Insurance, retention, renewal premium change and new business exclude surety and other products that are generally sold on a non-recurring, project specific basis. For each of the segments, production statistics referred to herein are domestic only unless otherwise indicated.

Statutory capital and surplus represents the excess of an insurance company’s admitted assets over its liabilities, including loss reserves, as determined in accordance with statutory accounting practices.

Holding company liquidity is the total funds available at the holding company level to fund general corporate purposes, primarily the payment of shareholder dividends and debt service. These funds consist of total cash, short-term invested assets and other readily marketable securities held by the holding company.

For a glossary of other financial terms used in this press release, we refer you to the Company’s most recent annual report on Form 10-K filed with the SEC on February 12, 2026, and subsequent periodic filings with the SEC.

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Contacts

Media:

Institutional Investors:

Patrick Linehan Abbe Goldstein

917.778.6267 917.778.6825

EX-99.2

Filename: a992finsupp93026.htm · Sequence: 3

Document

The Travelers Companies, Inc.

Financial Supplement - Third Quarter 2026

Exhibit 99.2

Page Number

Consolidated Results

Financial Highlights 1

Reconciliation of Net Income to Core Income and Earnings per Share to Core Income per Share 2

Statement of Income 3

Net Income by Major Component and Combined Ratio 4

Core Income 5

Selected Statistics - Property and Casualty Operations 6

Written and Earned Premiums - Property and Casualty Operations 7

Business Insurance

Segment Income 8

Segment Income by Major Component and Combined Ratio 9

Selected Statistics 10

Net Written Premiums 11

Bond & Specialty Insurance

Segment Income 12

Segment Income by Major Component and Combined Ratio 13

Selected Statistics 14

Net Written Premiums 15

Personal Insurance

Segment Income (Loss) 16

Segment Income (Loss) by Major Component and Combined Ratio 17

Selected Statistics 18

Net Written Premiums 19

Selected Statistics - Automobile 20

Selected Statistics - Homeowners and Other 21

Supplemental Detail

Interest Expense and Other 22

Consolidated Balance Sheet 23

Investment Portfolio 24

Investment Portfolio - Fixed Maturities Data 25

Investment Income 26

Net Realized Investment Gains (Losses) and Net Unrealized Investment Gains (Losses) included in Shareholders’ Equity 27

Reinsurance Recoverables 28

Net Reserves for Losses and Loss Adjustment Expense 29

Asbestos Reserves 30

Capitalization 31

Statutory Capital and Surplus to GAAP Shareholders’ Equity Reconciliation 32

Statement of Cash Flows 33

Statement of Cash Flows (continued) 34

Glossary of Financial Measures and Description of Reportable Business Segments 35-36

The information included in the Financial Supplement is unaudited. This document should be read in conjunction with the Company’s Form 10-Q which will be filed with the Securities and Exchange Commission.

Index

The Travelers Companies, Inc.

Financial Highlights

($ and shares in millions, except for per share data) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Net income $ 395 $ 1,509 $ 1,888 $ 2,496 $ 1,711 $ 2,208 $ 1,917 $ 3,792 $ 5,836

Net income per share:

Basic $ 1.73 $ 6.63 $ 8.37 $ 11.24 $ 7.89 $ 10.41 $ 9.20 $ 16.69 $ 27.48

Diluted $ 1.70 $ 6.53 $ 8.24 $ 11.06 $ 7.78 $ 10.26 $ 9.04 $ 16.45 $ 27.05

Core income $ 443 $ 1,504 $ 1,867 $ 2,511 $ 1,696 $ 2,160 $ 1,947 $ 3,814 $ 5,803

Core income per share:

Basic $ 1.94 $ 6.61 $ 8.27 $ 11.31 $ 7.82 $ 10.19 $ 9.34 $ 16.78 $ 27.32

Diluted $ 1.91 $ 6.51 $ 8.14 $ 11.13 $ 7.71 $ 10.04 $ 9.18 $ 16.54 $ 26.90

Return on equity 5.6 % 20.9 % 24.7 % 31.0 % 21.1 % 27.1 % 24.7 % 17.3 % 24.3 %

Core return on equity 5.6 % 18.8 % 22.6 % 29.6 % 19.7 % 24.9 % 22.1 % 15.8 % 22.3 %

Total assets, at period end $ 135,977 $ 138,873 $ 143,678 $ 143,708 $ 142,309 $ 143,580 $ 142,089 $ 143,678 $ 142,089

Total equity, at period end $ 28,191 $ 29,518 $ 31,609 $ 32,894 $ 31,986 $ 33,121 $ 28,995 $ 31,609 $ 28,995

Book value per share, at period end $ 124.43 $ 131.11 $ 141.72 $ 151.21 $ 150.42 $ 158.81 $ 141.48 $ 141.72 $ 141.48

Less: Net unrealized investment gains (losses), net of tax (14.56) (13.46) (8.83) (6.80) (11.18) (9.39) (30.99) (8.83) (30.99)

Adjusted book value per share, at period end $ 138.99 $ 144.57 $ 150.55 $ 158.01 $ 161.60 $ 168.20 $ 172.47 $ 150.55 $ 172.47

Weighted average number of common shares outstanding (basic) 226.9 225.9 224.1 220.3 215.2 210.5 206.9 225.6 210.9

Weighted average number of common shares outstanding and common stock equivalents (diluted) 230.4 229.3 227.5 224.0 218.4 213.6 210.6 228.9 214.2

Common shares outstanding at period end 226.6 225.1 223.0 217.5 212.6 208.6 204.9 223.0 204.9

Common stock dividends declared $ 241 $ 252 $ 250 $ 244 $ 238 $ 266 $ 261 $ 743 $ 765

Common stock repurchased:

Under Board of Directors authorization

Shares 1.0 1.8 2.3 5.8 6.0 4.3 4.0 5.1 14.3

Cost $ 250 $ 500 $ 625 $ 1,650 $ 1,800 $ 1,300 $ 1,500 $ 1,375 $ 4,600

Other

Shares 0.4 0.3 — — 0.6 — — 0.7 0.6

Cost $ 108 $ 57 $ 3 $ 3 $ 185 $ 11 $ 8 $ 168 $ 204

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Reconciliation of Net Income to Core Income and Earnings per Share to Core Income per Share

($ and shares in millions, except earnings per share) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Net income

Net income $ 395 $ 1,509 $ 1,888 $ 2,496 $ 1,711 $ 2,208 $ 1,917 $ 3,792 $ 5,836

Net realized investment (gains) losses, after-tax 48 (5) (21) 15 (15) (48) 30 22 (33)

Core income $ 443 $ 1,504 $ 1,867 $ 2,511 $ 1,696 $ 2,160 $ 1,947 $ 3,814 $ 5,803

Basic

Net income per share $ 1.73 $ 6.63 $ 8.37 $ 11.24 $ 7.89 $ 10.41 $ 9.20 $ 16.69 $ 27.48

Net realized investment (gains) losses, after-tax 0.21 (0.02) (0.10) 0.07 (0.07) (0.22) 0.14 0.09 (0.16)

Core income per share $ 1.94 $ 6.61 $ 8.27 $ 11.31 $ 7.82 $ 10.19 $ 9.34 $ 16.78 $ 27.32

Diluted

Net income per share $ 1.70 $ 6.53 $ 8.24 $ 11.06 $ 7.78 $ 10.26 $ 9.04 $ 16.45 $ 27.05

Net realized investment (gains) losses, after-tax 0.21 (0.02) (0.10) 0.07 (0.07) (0.22) 0.14 0.09 (0.15)

Core income per share $ 1.91 $ 6.51 $ 8.14 $ 11.13 $ 7.71 $ 10.04 $ 9.18 $ 16.54 $ 26.90

Adjustments to net and core income and weighted average shares for net and core income EPS calculations:

Basic and Diluted 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Net income, as reported $ 395 $ 1,509 $ 1,888 $ 2,496 $ 1,711 $ 2,208 $ 1,917 $ 3,792 $ 5,836

Participating share-based awards - allocated net income (3) (11) (13) (19) (12) (15) (13) (27) (41)

Net income available to common shareholders - basic and diluted $ 392 $ 1,498 $ 1,875 $ 2,477 $ 1,699 $ 2,193 $ 1,904 $ 3,765 $ 5,795

Core income, as reported $ 443 $ 1,504 $ 1,867 $ 2,511 $ 1,696 $ 2,160 $ 1,947 $ 3,814 $ 5,803

Participating share-based awards - allocated core income (3) (11) (14) (18) (12) (15) (14) (28) (41)

Core income available to common shareholders - basic and diluted $ 440 $ 1,493 $ 1,853 $ 2,493 $ 1,684 $ 2,145 $ 1,933 $ 3,786 $ 5,762

Common Shares

Basic

Weighted average shares outstanding 226.9 225.9 224.1 220.3 215.2 210.5 206.9 225.6 210.9

Diluted

Weighted average shares outstanding 226.9 225.9 224.1 220.3 215.2 210.5 206.9 225.6 210.9

Weighted average effect of dilutive securities - stock options and performance shares 3.5 3.4 3.4 3.7 3.2 3.1 3.7 3.3 3.3

Diluted weighted average shares outstanding 230.4 229.3 227.5 224.0 218.4 213.6 210.6 228.9 214.2

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Statement of Income - Consolidated

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Revenues

Premiums $ 10,710 $ 10,921 $ 11,135 $ 11,148 $ 10,605 $ 10,753 $ 11,103 $ 32,766 $ 32,461

Net investment income 930 942 1,033 1,054 1,008 1,070 1,098 2,905 3,176

Fee income 119 124 127 125 121 126 123 370 370

Net realized investment gains (losses) (61) 6 27 (20) 49 60 (34) (28) 75

Other revenues 112 123 148 125 141 144 122 383 407

Total revenues 11,810 12,116 12,470 12,432 11,924 12,153 12,412 36,396 36,489

Claims and expenses

Claims and claim adjustment expenses 8,006 6,789 6,594 5,832 6,382 5,922 6,487 21,389 18,791

Amortization of deferred acquisition costs 1,778 1,802 1,849 1,837 1,766 1,786 1,856 5,429 5,408

General and administrative expenses 1,459 1,545 1,572 1,544 1,541 1,565 1,582 4,576 4,688

Interest expense 99 99 111 116 116 113 118 309 347

Total claims and expenses 11,342 10,235 10,126 9,329 9,805 9,386 10,043 31,703 29,234

Income before income taxes 468 1,881 2,344 3,103 2,119 2,767 2,369 4,693 7,255

Income tax expense 73 372 456 607 408 559 452 901 1,419

Net income $ 395 $ 1,509 $ 1,888 $ 2,496 $ 1,711 $ 2,208 $ 1,917 $ 3,792 $ 5,836

Other statistics

Effective tax rate on net investment income 17.9 % 17.9 % 17.8 % 17.7 % 17.4 % 17.4 % 17.3 % 17.9 % 17.4 %

Net investment income (after-tax) $ 763 $ 774 $ 850 $ 867 $ 833 $ 883 $ 908 $ 2,387 $ 2,624

Catastrophes, net of reinsurance:

Pre-tax $ 2,266 $ 927 $ 402 $ 95 $ 761 $ 518 $ 538 $ 3,595 $ 1,817

After-tax $ 1,790 $ 732 $ 318 $ 75 $ 601 $ 410 $ 424 $ 2,840 $ 1,435

Prior year reserve development - favorable:

Pre-tax $ 378 $ 315 $ 22 $ 321 $ 413 $ 578 $ 234 $ 715 $ 1,225

After-tax $ 297 $ 249 $ 16 $ 253 $ 325 $ 456 $ 185 $ 562 $ 966

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Net Income by Major Component and Combined Ratio - Consolidated

($ in millions, net of tax) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Underwriting gain (loss) $ (239) $ 808 $ 1,099 $ 1,729 $ 955 $ 1,365 $ 1,147 $ 1,668 $ 3,467

Net investment income 763 774 850 867 833 883 908 2,387 2,624

Other income (expense), including interest expense (81) (78) (82) (85) (92) (88) (108) (241) (288)

Core income 443 1,504 1,867 2,511 1,696 2,160 1,947 3,814 5,803

Net realized investment gains (losses) (48) 5 21 (15) 15 48 (30) (22) 33

Net income $ 395 $ 1,509 $ 1,888 $ 2,496 $ 1,711 $ 2,208 $ 1,917 $ 3,792 $ 5,836

Combined ratio (1) (2)

Loss and loss adjustment expense ratio 74.2 % 61.7 % 58.7 % 51.8 % 59.6 % 54.6 % 57.9 % 64.7 % 57.3 %

Underwriting expense ratio 28.3 % 28.6 % 28.6 % 28.4 % 29.0 % 29.0 % 28.9 % 28.5 % 29.0 %

Combined ratio 102.5 % 90.3 % 87.3 % 80.2 % 88.6 % 83.6 % 86.8 % 93.2 % 86.3 %

Impact on combined ratio:

Net favorable prior year reserve development (3.5) % (2.9) % (0.2) % (2.9) % (3.9) % (5.4) % (2.1) % (2.2) % (3.8) %

Catastrophes, net of reinsurance 21.2 % 8.5 % 3.6 % 0.9 % 7.2 % 4.9 % 4.8 % 11.0 % 5.6 %

Underlying combined ratio 84.8 % 84.7 % 83.9 % 82.2 % 85.3 % 84.1 % 84.1 % 84.4 % 84.5 %

(1) Before policyholder dividends.

(2) Billing and policy fees and other, which are a component of other revenues, are allocated as a reduction of underwriting expenses. In addition, fee income is allocated as a reduction of losses and loss adjustment expenses and underwriting expenses. These allocations are to conform the calculation of the combined ratio with statutory accounting. Additionally, general and administrative expenses include non-insurance expenses that are excluded from underwriting expenses, and accordingly, are excluded in calculating the combined ratio. See following:

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Billing and policy fees and other $ 28 $ 29 $ 28 $ 28 $ 25 $ 22 $ 22 $ 85 $ 69

Fee income:

Loss and loss adjustment expenses $ 45 $ 45 $ 48 $ 48 $ 48 $ 49 $ 50 $ 138 $ 147

Underwriting expenses 74 79 79 77 73 77 73 232 223

Total fee income $ 119 $ 124 $ 127 $ 125 $ 121 $ 126 $ 123 $ 370 $ 370

Non-insurance general and administrative expenses $ 109 $ 113 $ 131 $ 110 $ 136 $ 132 $ 131 $ 353 $ 399

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Core Income - Consolidated

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Revenues

Premiums $ 10,710 $ 10,921 $ 11,135 $ 11,148 $ 10,605 $ 10,753 $ 11,103 $ 32,766 $ 32,461

Net investment income 930 942 1,033 1,054 1,008 1,070 1,098 2,905 3,176

Fee income 119 124 127 125 121 126 123 370 370

Other revenues 112 123 148 125 141 144 122 383 407

Total revenues

11,871 12,110 12,443 12,452 11,875 12,093 12,446 36,424 36,414

Claims and expenses

Claims and claim adjustment expenses 8,006 6,789 6,594 5,832 6,382 5,922 6,487 21,389 18,791

Amortization of deferred acquisition costs 1,778 1,802 1,849 1,837 1,766 1,786 1,856 5,429 5,408

General and administrative expenses 1,459 1,545 1,572 1,544 1,541 1,565 1,582 4,576 4,688

Interest expense 99 99 111 116 116 113 118 309 347

Total claims and expenses

11,342 10,235 10,126 9,329 9,805 9,386 10,043 31,703 29,234

Core income before income taxes 529 1,875 2,317 3,123 2,070 2,707 2,403 4,721 7,180

Income tax expense 86 371 450 612 374 547 456 907 1,377

Core income $ 443 $ 1,504 $ 1,867 $ 2,511 $ 1,696 $ 2,160 $ 1,947 $ 3,814 $ 5,803

Other statistics

Effective tax rate on net investment income 17.9 % 17.9 % 17.8 % 17.7 % 17.4 % 17.4 % 17.3 % 17.9 % 17.4 %

Net investment income (after-tax) $ 763 $ 774 $ 850 $ 867 $ 833 $ 883 $ 908 $ 2,387 $ 2,624

Catastrophes, net of reinsurance:

Pre-tax $ 2,266 $ 927 $ 402 $ 95 $ 761 $ 518 $ 538 $ 3,595 $ 1,817

After-tax $ 1,790 $ 732 $ 318 $ 75 $ 601 $ 410 $ 424 $ 2,840 $ 1,435

Prior year reserve development - favorable:

Pre-tax $ 378 $ 315 $ 22 $ 321 $ 413 $ 578 $ 234 $ 715 $ 1,225

After-tax $ 297 $ 249 $ 16 $ 253 $ 325 $ 456 $ 185 $ 562 $ 966

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Selected Statistics - Property and Casualty Operations

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Statutory underwriting

Gross written premiums $ 11,890 $ 12,225 $ 12,292 $ 11,296 $ 11,750 $ 12,201 $ 12,060 $ 36,407 $ 36,011

Net written premiums $ 10,515 $ 11,516 $ 11,472 $ 10,856 $ 10,323 $ 11,525 $ 11,481 $ 33,503 $ 33,329

Net earned premiums $ 10,710 $ 10,897 $ 11,133 $ 11,146 $ 10,593 $ 10,749 $ 11,103 $ 32,740 $ 32,445

Losses and loss adjustment expenses 7,947 6,731 6,537 5,768 6,310 5,867 6,426 21,215 18,603

Underwriting expenses 3,098 3,260 3,239 3,114 3,400 3,271 3,277 9,597 9,948

Statutory underwriting gain (loss) (335) 906 1,357 2,264 883 1,611 1,400 1,928 3,894

Policyholder dividends 13 10 12 10 12 8 12 35 32

Statutory underwriting gain (loss) after policyholder dividends $ (348) $ 896 $ 1,345 $ 2,254 $ 871 $ 1,603 $ 1,388 $ 1,893 $ 3,862

Other statutory statistics

Reserves for losses and loss adjustment expenses $ 58,091 $ 59,072 $ 59,620 $ 59,747 $ 59,215 $ 59,435 $ 60,316 $ 59,620 $ 60,316

Increase (decrease) in reserves $ 1,765 $ 981 $ 548 $ 127 $ (532) $ 220 $ 881 $ 3,294 $ 569

Statutory capital and surplus $ 27,785 $ 28,364 $ 29,965 $ 31,064 $ 31,063 $ 31,433 $ 31,596 $ 29,965 $ 31,596

Net written premiums/surplus (1) 1.57:1 1.55:1 1.48:1 1.43:1 1.42:1 1.41:1 1.40:1 1.48:1 1.40:1

(1) Based on 12 months of rolling net written premiums.

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Written and Earned Premiums - Property and Casualty Operations

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Written premiums

Gross $ 11,890 $ 12,251 $ 12,293 $ 11,296 $ 11,765 $ 12,205 $ 12,059 $ 36,434 $ 36,029

Ceded (1,375) (708) (820) (440) (1,427) (676) (579) (2,903) (2,682)

Net $ 10,515 $ 11,543 $ 11,473 $ 10,856 $ 10,338 $ 11,529 $ 11,480 $ 33,531 $ 33,347

Earned premiums

Gross $ 11,487 $ 11,749 $ 11,964 $ 11,952 $ 11,438 $ 11,632 $ 11,869 $ 35,200 $ 34,939

Ceded (777) (828) (829) (804) (833) (879) (766) (2,434) (2,478)

Net $ 10,710 $ 10,921 $ 11,135 $ 11,148 $ 10,605 $ 10,753 $ 11,103 $ 32,766 $ 32,461

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Segment Income - Business Insurance

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Revenues

Premiums $ 5,465 $ 5,545 $ 5,700 $ 5,702 $ 5,493 $ 5,551 $ 5,862 $ 16,710 $ 16,906

Net investment income 656 662 727 737 708 762 766 2,045 2,236

Fee income 108 111 114 112 111 117 118 333 346

Other revenues 82 95 111 91 104 113 94 288 311

Total revenues

6,311 6,413 6,652 6,642 6,416 6,543 6,840 19,376 19,799

Claims and expenses

Claims and claim adjustment expenses 3,705 3,584 3,667 3,198 3,531 3,188 3,643 10,956 10,362

Amortization of deferred acquisition costs 917 944 973 962 938 945 1,001 2,834 2,884

General and administrative expenses 847 875 894 866 912 912 919 2,616 2,743

Total claims and expenses

5,469 5,403 5,534 5,026 5,381 5,045 5,563 16,406 15,989

Segment income before income taxes 842 1,010 1,118 1,616 1,035 1,498 1,277 2,970 3,810

Income tax expense 159 197 211 324 196 300 241 567 737

Segment income $ 683 $ 813 $ 907 $ 1,292 $ 839 $ 1,198 $ 1,036 $ 2,403 $ 3,073

Other statistics

Effective tax rate on net investment income 17.8 % 17.7 % 17.7 % 17.5 % 17.3 % 17.4 % 17.3 % 17.8 % 17.3 %

Net investment income (after-tax) $ 539 $ 545 $ 598 $ 607 $ 586 $ 629 $ 633 $ 1,682 $ 1,848

Catastrophes, net of reinsurance:

Pre-tax $ 509 $ 368 $ 139 $ 57 $ 379 $ 238 $ 157 $ 1,016 $ 774

After-tax $ 402 $ 291 $ 110 $ 44 $ 299 $ 188 $ 124 $ 803 $ 611

Prior year reserve development - favorable (unfavorable):

Pre-tax $ 74 $ 79 $ (125) $ 205 $ 162 $ 319 $ 41 $ 28 $ 522

After-tax $ 58 $ 62 $ (99) $ 162 $ 127 $ 252 $ 32 $ 21 $ 411

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Segment Income by Major Component and Combined Ratio - Business Insurance

($ in millions, net of tax) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Underwriting gain $ 157 $ 274 $ 318 $ 690 $ 261 $ 572 $ 418 $ 749 $ 1,251

Net investment income 539 545 598 607 586 629 633 1,682 1,848

Other income (expense) (13) (6) (9) (5) (8) (3) (15) (28) (26)

Segment income $ 683 $ 813 $ 907 $ 1,292 $ 839 $ 1,198 $ 1,036 $ 2,403 $ 3,073

Combined ratio (1) (2)

Loss and loss adjustment expense ratio 66.8 % 63.7 % 63.3 % 55.1 % 63.3 % 56.5 % 61.2 % 64.6 % 60.3 %

Underwriting expense ratio 29.4 % 29.9 % 29.6 % 29.3 % 30.5 % 30.3 % 29.7 % 29.6 % 30.2 %

Combined ratio 96.2 % 93.6 % 92.9 % 84.4 % 93.8 % 86.8 % 90.9 % 94.2 % 90.5 %

Impact on combined ratio:

Net (favorable) unfavorable prior year reserve development (1.3) % (1.4) % 2.2 % (3.6) % (2.9) % (5.7) % (0.7) % (0.2) % (3.1) %

Catastrophes, net of reinsurance 9.3 % 6.7 % 2.4 % 1.0 % 6.9 % 4.3 % 2.7 % 6.1 % 4.6 %

Underlying combined ratio 88.2 % 88.3 % 88.3 % 87.0 % 89.8 % 88.2 % 88.9 % 88.3 % 89.0 %

(1) Before policyholder dividends.

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Billing and policy fees and other $ 4 $ 5 $ 4 $ 4 $ 4 $ 3 $ 4 $ 13 $ 11

Fee income:

Loss and loss adjustment expenses $ 45 $ 45 $ 48 $ 48 $ 48 $ 49 $ 50 $ 138 $ 147

Underwriting expenses 63 66 66 64 63 68 68 195 199

Total fee income $ 108 $ 111 $ 114 $ 112 $ 111 $ 117 $ 118 $ 333 $ 346

Non-insurance general and administrative expenses $ 91 $ 93 $ 112 $ 89 $ 107 $ 105 $ 105 $ 296 $ 317

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Selected Statistics - Business Insurance

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Statutory underwriting

Gross written premiums $ 6,740 $ 6,359 $ 6,284 $ 5,840 $ 6,791 $ 6,527 $ 6,298 $ 19,383 $ 19,616

Net written premiums $ 5,698 $ 5,765 $ 5,674 $ 5,514 $ 5,771 $ 5,980 $ 5,869 $ 17,137 $ 17,620

Net earned premiums $ 5,465 $ 5,521 $ 5,698 $ 5,700 $ 5,481 $ 5,547 $ 5,862 $ 16,684 $ 16,890

Losses and loss adjustment expenses 3,650 3,530 3,614 3,138 3,463 3,138 3,586 10,794 10,187

Underwriting expenses 1,700 1,704 1,654 1,615 1,787 1,742 1,726 5,058 5,255

Statutory underwriting gain 115 287 430 947 231 667 550 832 1,448

Policyholder dividends 9 5 9 5 8 4 8 23 20

Statutory underwriting gain after policyholder dividends $ 106 $ 282 $ 421 $ 942 $ 223 $ 663 $ 542 $ 809 $ 1,428

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Net Written Premiums - Business Insurance

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Net written premiums by market

Domestic

Select Accounts $ 976 $ 1,004 $ 920 $ 930 $ 1,006 $ 1,040 $ 932 $ 2,900 $ 2,978

Middle Market 3,166 3,034 3,232 3,109 3,329 3,235 3,448 9,432 10,012

National Accounts 312 329 273 348 343 344 286 914 973

National Property and Other 720 885 841 666 691 866 809 2,446 2,366

Total Domestic 5,174 5,252 5,266 5,053 5,369 5,485 5,475 15,692 16,329

International 524 540 409 461 417 499 393 1,473 1,309

Total $ 5,698 $ 5,792 $ 5,675 $ 5,514 $ 5,786 $ 5,984 $ 5,868 $ 17,165 $ 17,638

Net written premiums by product line

Domestic

Workers’ compensation $ 950 $ 821 $ 792 $ 786 $ 980 $ 835 $ 824 $ 2,563 $ 2,639

Commercial automobile 1,030 1,019 1,030 1,017 1,106 1,106 1,118 3,079 3,330

Commercial property 873 1,051 961 820 821 1,042 926 2,885 2,789

General liability 753 878 998 967 847 964 1,062 2,629 2,873

Commercial multi-peril 1,532 1,486 1,447 1,461 1,580 1,537 1,506 4,465 4,623

Other 36 (3) 38 2 35 1 39 71 75

Total Domestic 5,174 5,252 5,266 5,053 5,369 5,485 5,475 15,692 16,329

International 524 540 409 461 417 499 393 1,473 1,309

Total $ 5,698 $ 5,792 $ 5,675 $ 5,514 $ 5,786 $ 5,984 $ 5,868 $ 17,165 $ 17,638

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Segment Income - Bond & Specialty Insurance

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Revenues

Premiums $ 995 $ 1,021 $ 1,042 $ 1,049 $ 1,018 $ 1,056 $ 1,103 $ 3,058 $ 3,177

Net investment income 102 107 116 120 113 113 127 325 353

Other revenues 6 5 8 8 5 6 6 19 17

Total revenues 1,103 1,133 1,166 1,177 1,136 1,175 1,236 3,402 3,547

Claims and expenses

Claims and claim adjustment expenses 434 418 451 461 441 458 425 1,303 1,324

Amortization of deferred acquisition costs 187 195 197 199 194 204 215 579 613

General and administrative expenses 205 214 207 217 219 218 218 626 655

Total claims and expenses 826 827 855 877 854 880 858 2,508 2,592

Segment income before income taxes 277 306 311 300 282 295 378 894 955

Income tax expense 57 62 61 64 28 61 69 180 158

Segment income $ 220 $ 244 $ 250 $ 236 $ 254 $ 234 $ 309 $ 714 $ 797

Other statistics

Effective tax rate on net investment income 18.4 % 18.5 % 17.7 % 18.4 % 18.5 % 18.4 % 17.6 % 18.2 % 18.1 %

Net investment income (after-tax) $ 83 $ 88 $ 95 $ 98 $ 92 $ 93 $ 104 $ 266 $ 289

Catastrophes, net of reinsurance:

Pre-tax $ 19 $ 5 $ — $ 1 $ 8 $ 4 $ 1 $ 24 $ 13

After-tax $ 15 $ 4 $ — $ 1 $ 7 $ 3 $ — $ 19 $ 10

Prior year reserve development - favorable:

Pre-tax $ 67 $ 81 $ 43 $ 30 $ 65 $ 75 $ 95 $ 191 $ 235

After-tax $ 52 $ 65 $ 33 $ 24 $ 51 $ 59 $ 75 $ 150 $ 185

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Segment Income by Major Component and Combined Ratio - Bond & Specialty Insurance

($ in millions, net of tax) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Underwriting gain $ 133 $ 154 $ 150 $ 132 $ 159 $ 138 $ 202 $ 437 $ 499

Net investment income 83 88 95 98 92 93 104 266 289

Other income 4 2 5 6 3 3 3 11 9

Segment income $ 220 $ 244 $ 250 $ 236 $ 254 $ 234 $ 309 $ 714 $ 797

Combined ratio (1)

Loss and loss adjustment expense ratio 43.2 % 40.5 % 42.9 % 43.5 % 43.0 % 43.0 % 38.2 % 42.2 % 41.3 %

Underwriting expense ratio 39.3 % 39.8 % 38.7 % 39.5 % 40.3 % 39.8 % 39.1 % 39.3 % 39.7 %

Combined ratio 82.5 % 80.3 % 81.6 % 83.0 % 83.3 % 82.8 % 77.3 % 81.5 % 81.0 %

Impact on combined ratio:

Net favorable prior year reserve development (6.7) % (8.0) % (4.2) % (2.8) % (6.4) % (7.2) % (8.6) % (6.2) % (7.4) %

Catastrophes, net of reinsurance 1.9 % 0.5 % — % 0.1 % 0.8 % 0.4 % 0.1 % 0.8 % 0.4 %

Underlying combined ratio 87.3 % 87.8 % 85.8 % 85.7 % 88.9 % 89.6 % 85.8 % 86.9 % 88.0 %

(1) Billing and policy fees and other, which are a component of other revenues, are allocated as a reduction of underwriting expenses to conform the calculation of the combined ratio with statutory accounting. Additionally, general and administrative expenses include non-insurance expenses that are excluded from underwriting expenses, and accordingly, are excluded in calculating the combined ratio. See following:

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Billing and policy fees and other $ — $ — $ 1 $ — $ — $ 1 $ — $ 1 $ 1

Non-insurance general and administrative expenses $ 1 $ 2 $ 1 $ 2 $ 2 $ 2 $ 1 $ 4 $ 5

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Selected Statistics - Bond & Specialty Insurance

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Statutory underwriting

Gross written premiums $ 1,129 $ 1,166 $ 1,160 $ 1,192 $ 1,211 $ 1,333 $ 1,317 $ 3,455 $ 3,861

Net written premiums $ 999 $ 1,085 $ 1,080 $ 1,098 $ 1,066 $ 1,237 $ 1,209 $ 3,164 $ 3,512

Net earned premiums $ 995 $ 1,021 $ 1,042 $ 1,049 $ 1,018 $ 1,056 $ 1,103 $ 3,058 $ 3,177

Losses and loss adjustment expenses 430 414 447 457 437 453 421 1,291 1,311

Underwriting expenses 422 434 424 433 676 469 467 1,280 1,612

Statutory underwriting gain (loss) 143 173 171 159 (95) 134 215 487 254

Policyholder dividends 4 5 3 5 4 4 4 12 12

Statutory underwriting gain (loss) after policyholder dividends $ 139 $ 168 $ 168 $ 154 $ (99) $ 130 $ 211 $ 475 $ 242

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Net Written Premiums - Bond & Specialty Insurance

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Net written premiums by market

Domestic

Management Liability $ 553 $ 589 $ 613 $ 571 $ 572 $ 611 $ 649 $ 1,755 $ 1,832

Surety 333 342 342 337 381 480 414 1,017 1,275

Total Domestic 886 931 955 908 953 1,091 1,063 2,772 3,107

International 113 154 125 190 113 146 146 392 405

Total $ 999 $ 1,085 $ 1,080 $ 1,098 $ 1,066 $ 1,237 $ 1,209 $ 3,164 $ 3,512

Net written premiums by product line

Domestic

Fidelity and surety $ 394 $ 400 $ 407 $ 395 $ 447 $ 536 $ 482 $ 1,201 $ 1,465

General liability 440 469 475 458 455 491 508 1,384 1,454

Other 52 62 73 55 51 64 73 187 188

Total Domestic 886 931 955 908 953 1,091 1,063 2,772 3,107

International 113 154 125 190 113 146 146 392 405

Total $ 999 $ 1,085 $ 1,080 $ 1,098 $ 1,066 $ 1,237 $ 1,209 $ 3,164 $ 3,512

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Segment Income (Loss) - Personal Insurance

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Revenues

Premiums $ 4,250 $ 4,355 $ 4,393 $ 4,397 $ 4,094 $ 4,146 $ 4,138 $ 12,998 $ 12,378

Net investment income 172 173 190 197 187 195 205 535 587

Fee income 11 13 13 13 10 9 5 37 24

Other revenues 24 23 29 26 32 25 22 76 79

Total revenues 4,457 4,564 4,625 4,633 4,323 4,375 4,370 13,646 13,068

Claims and expenses

Claims and claim adjustment expenses 3,867 2,787 2,476 2,173 2,410 2,276 2,419 9,130 7,105

Amortization of deferred acquisition costs 674 663 679 676 634 637 640 2,016 1,911

General and administrative expenses 396 444 458 448 397 422 432 1,298 1,251

Total claims and expenses 4,937 3,894 3,613 3,297 3,441 3,335 3,491 12,444 10,267

Segment income (loss) before income taxes (480) 670 1,012 1,336 882 1,040 879 1,202 2,801

Income tax expense (benefit) (106) 136 205 250 178 213 173 235 564

Segment income (loss) $ (374) $ 534 $ 807 $ 1,086 $ 704 $ 827 $ 706 $ 967 $ 2,237

Other statistics

Effective tax rate on net investment income 18.1 % 18.0 % 18.0 % 17.7 % 17.1 % 17.1 % 17.1 % 18.0 % 17.1 %

Net investment income (after-tax) $ 141 $ 141 $ 157 $ 162 $ 155 $ 161 $ 171 $ 439 $ 487

Catastrophes, net of reinsurance:

Pre-tax $ 1,738 $ 554 $ 263 $ 37 $ 374 $ 276 $ 380 $ 2,555 $ 1,030

After-tax $ 1,373 $ 437 $ 208 $ 30 $ 295 $ 219 $ 300 $ 2,018 $ 814

Prior year reserve development - favorable:

Pre-tax $ 237 $ 155 $ 104 $ 86 $ 186 $ 184 $ 98 $ 496 $ 468

After-tax $ 187 $ 122 $ 82 $ 67 $ 147 $ 145 $ 78 $ 391 $ 370

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Segment Income (Loss) by Major Component and Combined Ratio - Personal Insurance

($ in millions, net of tax) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Underwriting gain (loss) $ (529) $ 380 $ 631 $ 907 $ 535 $ 655 $ 527 $ 482 $ 1,717

Net investment income 141 141 157 162 155 161 171 439 487

Other income 14 13 19 17 14 11 8 46 33

Segment income (loss) $ (374) $ 534 $ 807 $ 1,086 $ 704 $ 827 $ 706 $ 967 $ 2,237

Combined ratio (1)

Loss and loss adjustment expense ratio 91.0 % 64.0 % 56.4 % 49.4 % 58.8 % 54.9 % 58.4 % 70.3 % 57.4 %

Underwriting expense ratio 24.2 % 24.4 % 24.9 % 24.6 % 24.1 % 24.6 % 25.1 % 24.5 % 24.6 %

Combined ratio 115.2 % 88.4 % 81.3 % 74.0 % 82.9 % 79.5 % 83.5 % 94.8 % 82.0 %

Impact on combined ratio:

Net favorable prior year reserve development (5.6) % (3.6) % (2.4) % (1.9) % (4.5) % (4.5) % (2.4) % (3.8) % (3.8) %

Catastrophes, net of reinsurance 40.9 % 12.7 % 6.0 % 0.8 % 9.1 % 6.7 % 9.2 % 19.7 % 8.4 %

Underlying combined ratio 79.9 % 79.3 % 77.7 % 75.1 % 78.3 % 77.3 % 76.7 % 78.9 % 77.4 %

(1) Billing and policy fees and other, which are a component of other revenues, and fee income are allocated as a reduction of underwriting expenses to conform the calculation of the combined ratio with statutory accounting. Additionally, general and administrative expenses include non-insurance expenses that are excluded from underwriting expenses, and accordingly, are excluded in calculating the combined ratio. See following:

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Billing and policy fees and other $ 24 $ 24 $ 23 $ 24 $ 21 $ 18 $ 18 $ 71 $ 57

Fee income $ 11 $ 13 $ 13 $ 13 $ 10 $ 9 $ 5 $ 37 $ 24

Non-insurance general and administrative expenses $ 6 $ 6 $ 5 $ 6 $ 14 $ 12 $ 12 $ 17 $ 38

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Selected Statistics - Personal Insurance

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Statutory underwriting

Gross written premiums $ 4,021 $ 4,700 $ 4,848 $ 4,264 $ 3,748 $ 4,341 $ 4,445 $ 13,569 $ 12,534

Net written premiums $ 3,818 $ 4,666 $ 4,718 $ 4,244 $ 3,486 $ 4,308 $ 4,403 $ 13,202 $ 12,197

Net earned premiums $ 4,250 $ 4,355 $ 4,393 $ 4,397 $ 4,094 $ 4,146 $ 4,138 $ 12,998 $ 12,378

Losses and loss adjustment expenses 3,867 2,787 2,476 2,173 2,410 2,276 2,419 9,130 7,105

Underwriting expenses 976 1,122 1,161 1,066 937 1,060 1,084 3,259 3,081

Statutory underwriting gain (loss) $ (593) $ 446 $ 756 $ 1,158 $ 747 $ 810 $ 635 $ 609 $ 2,192

Policies in force (in thousands)

Automobile 3,118 3,083 3,050 3,025 2,819 2,801 2,769 3,050 2,769

Homeowners and Other 5,980 5,882 5,768 5,679 5,449 5,411 5,373 5,768 5,373

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Net Written Premiums - Personal Insurance

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Net written premiums by product line

Domestic

Automobile $ 1,859 $ 1,968 $ 2,062 $ 1,856 $ 1,756 $ 1,858 $ 1,892 $ 5,889 $ 5,506

Homeowners and Other 1,813 2,520 2,489 2,229 1,730 2,450 2,511 6,822 6,691

Total Domestic 3,672 4,488 4,551 4,085 3,486 4,308 4,403 12,711 12,197

International 146 178 167 159 — — — 491 —

Total $ 3,818 $ 4,666 $ 4,718 $ 4,244 $ 3,486 $ 4,308 $ 4,403 $ 13,202 $ 12,197

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Selected Statistics - Personal Insurance - Automobile

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Statutory underwriting

Gross written premiums $ 1,967 $ 2,083 $ 2,177 $ 1,967 $ 1,767 $ 1,861 $ 1,899 $ 6,227 $ 5,527

Net written premiums $ 1,955 $ 2,074 $ 2,165 $ 1,956 $ 1,756 $ 1,858 $ 1,892 $ 6,194 $ 5,506

Net earned premiums $ 2,071 $ 2,091 $ 2,091 $ 2,075 $ 1,892 $ 1,897 $ 1,874 $ 6,253 $ 5,663

Losses and loss adjustment expenses 1,270 1,320 1,300 1,393 1,145 1,137 1,192 3,890 3,474

Underwriting expenses 444 477 495 458 415 442 445 1,416 1,302

Statutory underwriting gain $ 357 $ 294 $ 296 $ 224 $ 332 $ 318 $ 237 $ 947 $ 887

Other statistics

Combined ratio (1):

Loss and loss adjustment expense ratio 61.3 % 63.1 % 62.1 % 67.1 % 60.6 % 59.9 % 63.6 % 62.2 % 61.4 %

Underwriting expense ratio 22.1 % 22.2 % 22.8 % 22.3 % 22.3 % 22.9 % 23.5 % 22.3 % 22.9 %

Combined ratio 83.4 % 85.3 % 84.9 % 89.4 % 82.9 % 82.8 % 87.1 % 84.5 % 84.3 %

Impact on combined ratio:

Net favorable prior year reserve development (6.0) % (5.0) % (4.3) % (3.0) % (6.3) % (4.5) % (1.3) % (5.1) % (4.1) %

Catastrophes, net of reinsurance 1.9 % 1.3 % 0.9 % 0.2 % 0.9 % 1.5 % 1.1 % 1.3 % 1.2 %

Underlying combined ratio 87.5 % 89.0 % 88.3 % 92.2 % 88.3 % 85.8 % 87.3 % 88.3 % 87.2 %

Catastrophes, net of reinsurance:

Pre-tax $ 39 $ 27 $ 19 $ 4 $ 15 $ 29 $ 22 $ 85 $ 66

After-tax $ 30 $ 22 $ 15 $ 3 $ 12 $ 23 $ 17 $ 67 $ 52

Prior year reserve development - favorable:

Pre-tax $ 125 $ 104 $ 89 $ 61 $ 120 $ 85 $ 25 $ 318 $ 230

After-tax $ 98 $ 83 $ 70 $ 47 $ 95 $ 67 $ 20 $ 251 $ 182

Policies in force (in thousands) 3,118 3,083 3,050 3,025 2,819 2,801 2,769

Change from prior year quarter (2.9) % (3.1) % (3.4) % (4.0) % (9.6) % (9.1) % (9.2) %

Change from prior quarter (1.0) % (1.1) % (1.1) % (0.8) % (6.8) % (0.6) % (1.1) %

(1) Billing and policy fees and other, which are a component of other revenues, and fee income are allocated as a reduction of underwriting expenses.

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Billing and policy fees and other $ 14 $ 15 $ 14 $ 14 $ 13 $ 12 $ 11 $ 43 $ 36

Fee income $ 6 $ 6 $ 7 $ 7 $ 5 $ 4 $ 3 $ 19 $ 12

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Selected Statistics - Personal Insurance - Homeowners and Other

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Statutory underwriting

Gross written premiums $ 2,054 $ 2,617 $ 2,671 $ 2,297 $ 1,981 $ 2,480 $ 2,546 $ 7,342 $ 7,007

Net written premiums $ 1,863 $ 2,592 $ 2,553 $ 2,288 $ 1,730 $ 2,450 $ 2,511 $ 7,008 $ 6,691

Net earned premiums $ 2,179 $ 2,264 $ 2,302 $ 2,322 $ 2,202 $ 2,249 $ 2,264 $ 6,745 $ 6,715

Losses and loss adjustment expenses 2,597 1,467 1,176 780 1,265 1,139 1,227 5,240 3,631

Underwriting expenses 532 645 666 608 522 618 639 1,843 1,779

Statutory underwriting gain (loss) $ (950) $ 152 $ 460 $ 934 $ 415 $ 492 $ 398 $ (338) $ 1,305

Other statistics

Combined ratio (1):

Loss and loss adjustment expense ratio 119.2 % 64.8 % 51.1 % 33.6 % 57.4 % 50.7 % 54.2 % 77.7 % 54.1 %

Underwriting expense ratio 26.3 % 26.5 % 26.9 % 26.7 % 25.6 % 26.0 % 26.3 % 26.6 % 26.0 %

Combined ratio 145.5 % 91.3 % 78.0 % 60.3 % 83.0 % 76.7 % 80.5 % 104.3 % 80.1 %

Impact on combined ratio:

Net favorable prior year reserve development (5.1) % (2.2) % (0.7) % (1.1) % (3.0) % (4.4) % (3.3) % (2.6) % (3.5) %

Catastrophes, net of reinsurance 78.0 % 23.2 % 10.7 % 1.5 % 16.3 % 11.0 % 15.8 % 36.6 % 14.4 %

Underlying combined ratio 72.6 % 70.3 % 68.0 % 59.9 % 69.7 % 70.1 % 68.0 % 70.3 % 69.2 %

Catastrophes, net of reinsurance:

Pre-tax $ 1,699 $ 527 $ 244 $ 33 $ 359 $ 247 $ 358 $ 2,470 $ 964

After-tax $ 1,343 $ 415 $ 193 $ 27 $ 283 $ 196 $ 283 $ 1,951 $ 762

Prior year reserve development - favorable:

Pre-tax $ 112 $ 51 $ 15 $ 25 $ 66 $ 99 $ 73 $ 178 $ 238

After-tax $ 89 $ 39 $ 12 $ 20 $ 52 $ 78 $ 58 $ 140 $ 188

Policies in force (in thousands) 5,980 5,882 5,768 5,679 5,449 5,411 5,373

Change from prior year quarter (4.1) % (4.6) % (5.5) % (6.3) % (8.9) % (8.0) % (6.8) %

Change from prior quarter (1.3) % (1.6) % (1.9) % (1.5) % (4.1) % (0.7) % (0.7) %

(1) Billing and policy fees and other, which are a component of other revenues, and fee income are allocated as a reduction of underwriting expenses.

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Billing and policy fees and other $ 10 $ 9 $ 9 $ 10 $ 8 $ 6 $ 7 $ 28 $ 21

Fee income $ 5 $ 7 $ 6 $ 6 $ 5 $ 5 $ 2 $ 18 $ 12

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Interest Expense and Other

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Revenues

Other revenues $ — $ — $ — $ — $ — $ — $ — $ — $ —

Claims and expenses

Interest expense 99 99 111 116 116 113 118 309 347

General and administrative expenses 11 12 13 13 13 13 13 36 39

Total claims and expenses 110 111 124 129 129 126 131 345 386

Loss before income tax benefit (110) (111) (124) (129) (129) (126) (131) (345) (386)

Income tax benefit (24) (24) (27) (26) (28) (27) (27) (75) (82)

Loss $ (86) $ (87) $ (97) $ (103) $ (101) $ (99) $ (104) $ (270) $ (304)

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Consolidated Balance Sheet

($ and shares in millions) September 30,

2026 December 31,

2025

Assets

Fixed maturities, available for sale, at fair value (amortized cost $97,423 and $91,717; allowance for expected credit losses of $2 and $3)

$ 89,372 $ 89,833

Equity securities, at fair value (cost $414 and $457)

640 618

Real estate investments 883 900

Short-term securities 5,561 5,716

Other investments 4,132 4,115

Total investments 100,588 101,182

Cash (including restricted cash of $147 and $132)

766 842

Investment income accrued 860 877

Premiums receivable (net of allowance for expected credit losses of $69 and $58)

12,142 10,992

Reinsurance recoverables (net of allowance for estimated uncollectible reinsurance of $142 and $129)

8,078 7,886

Ceded unearned premiums 1,488 1,283

Deferred acquisition costs 3,763 3,518

Deferred taxes 2,268 887

Contractholder receivables (net of allowance for expected credit losses of $13 and $16)

3,041 3,010

Goodwill 4,060 4,066

Other intangible assets 326 336

Other assets 4,709 4,279

Assets held for sale (1) — 4,550

Total assets $ 142,089 $ 143,708

Liabilities

Claims and claim adjustment expense reserves $ 68,130 $ 65,737

Unearned premium reserves 23,525 22,431

Contractholder payables 3,054 3,026

Payables for reinsurance premiums 828 529

Debt 9,813 9,267

Other liabilities 7,744 7,282

Liabilities held for sale (1) — 2,542

Total liabilities 113,094 110,814

Shareholders’ equity

Common stock (1,750.0 shares authorized; 204.9 and 217.5 shares issued and outstanding)

26,307 25,910

Retained earnings 60,002 54,931

Accumulated other comprehensive loss (7,063) (2,500)

Treasury stock, at cost (590.8 and 575.9 shares)

(50,251) (45,447)

Total shareholders’ equity 28,995 32,894

Total liabilities and shareholders’ equity $ 142,089 $ 143,708

(1) Amounts relate to the Canadian operations divested by the Company in the first quarter of 2026.

The Travelers Companies, Inc.

Investment Portfolio

(at carrying value, $ in millions) September 30,

2026 Pre-tax Book

Yield (1) December 31,

2025 (2) Pre-tax Book

Yield (1)

Investment portfolio

Taxable fixed maturities $ 63,036 4.26 % $ 63,051 4.11 %

Tax-exempt fixed maturities 26,336 3.48 % 26,782 3.29 %

Total fixed maturities 89,372 4.02 % 89,833 3.86 %

Non-redeemable preferred stocks 33 2.02 % 34 1.64 %

Common stocks 607 584

Total equity securities 640 618

Real estate investments 883 900

Short-term securities 5,561 3.93 % 5,716 3.86 %

Private equities 2,753 2,749

Hedge funds 207 212

Real estate partnerships 806 832

Other investments 366 322

Total other investments 4,132 4,115

Total investments $ 100,588 $ 101,182

Net unrealized investment gains (losses), net of tax, included in shareholders’ equity $ (6,352) $ (1,478)

(1) Yields are provided for those investments with an embedded book yield.

(2) Excludes $3,347 million of total investments classified as held for sale.

The Travelers Companies, Inc.

Investment Portfolio - Fixed Maturities Data

(at carrying value, $ in millions) September 30,

2026 December 31,

2025 (1)

Fixed maturities

U.S. Treasury securities and obligations of U.S. Government corporations and agencies $ 3,022 $ 3,857

Obligations of U.S. states and political subdivisions:

Pre-refunded 241 416

All other 30,300 30,962

Total 30,541 31,378

Debt securities issued by foreign governments 408 312

Mortgage-backed securities - principally obligations of U.S. Government agencies 12,507 13,232

Corporate and all other bonds 42,894 41,054

Total fixed maturities $ 89,372 $ 89,833

Fixed Maturities

Quality Characteristics (2)

September 30, 2026 December 31, 2025 (1)

Amount % of Total Amount % of Total

Quality Ratings

Aaa $ 24,385 27.3 % $ 24,898 27.7 %

Aa 31,321 35.0 33,027 36.7

A 20,929 23.4 19,660 21.9

Baa 11,687 13.1 11,198 12.5

Total investment grade 88,322 98.8 88,783 98.8

Ba 810 0.9 812 1.0

B 207 0.3 205 0.2

Caa and lower 33 — 33 —

Total below investment grade 1,050 1.2 1,050 1.2

Total fixed maturities $ 89,372 100.0 % $ 89,833 100.0 %

Average weighted quality Aa3, AA- Aa2, AA

Weighted average duration of fixed maturities and short-term securities, net of securities lending activities and net receivables and payables on investment sales and purchases 5.3 4.7

(1) Excludes $3,243 million of fixed maturities classified as held for sale.

(2) Rated using external rating agencies or by Travelers when a public rating does not exist. Below investment grade assets refer to securities rated “Ba” or below.

The Travelers Companies, Inc.

Investment Income

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Gross investment income

Fixed maturities $ 812 $ 833 $ 874 $ 914 $ 899 $ 930 $ 955 $ 2,519 $ 2,784

Short-term securities 57 55 73 68 75 53 59 185 187

Other 76 67 101 82 47 100 97 244 244

945 955 1,048 1,064 1,021 1,083 1,111 2,948 3,215

Investment expenses 15 13 15 10 13 13 13 43 39

Net investment income, pre-tax 930 942 1,033 1,054 1,008 1,070 1,098 2,905 3,176

Income taxes 167 168 183 187 175 187 190 518 552

Net investment income, after-tax $ 763 $ 774 $ 850 $ 867 $ 833 $ 883 $ 908 $ 2,387 $ 2,624

Effective tax rate 17.9 % 17.9 % 17.8 % 17.7 % 17.4 % 17.4 % 17.3 % 17.9 % 17.4 %

Average invested assets (1) (2) $101,000 $102,173 $105,655 $107,932 $106,666 $107,067 $108,727 $103,086 $107,566

Average yield pre-tax (1) 3.7 % 3.7 % 3.9 % 3.9 % 3.8 % 4.0 % 4.0 % 3.8 % 3.9 %

Average yield after-tax 3.0 % 3.0 % 3.2 % 3.2 % 3.1 % 3.3 % 3.3 % 3.1 % 3.3 %

(1) Excludes net unrealized investment gains (losses), and is adjusted for cash, receivables for investment sales, payables on investment purchases and accrued investment income.

(2) Includes $3,347 million of invested assets classified as held for sale as of December 31, 2025.

The Travelers Companies, Inc.

Net Realized Investment Gains (Losses) and Net Unrealized Investment Gains (Losses) included in Shareholders' Equity

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Net realized investment gains (losses)

Fixed maturities $ (31) $ (17) $ (2) $ (19) $ (22) $ (32) $ (16) $ (50) $ (70)

Equity securities (22) 20 39 8 1 91 (15) 37 77

Other (1) (8) 3 (10) (9) 70 1 (3) (15) 68

Realized investment gains (losses) before tax (61) 6 27 (20) 49 60 (34) (28) 75

Related taxes (13) 1 6 (5) 34 12 (4) (6) 42

Net realized investment gains (losses) $ (48) $ 5 $ 21 $ (15) $ 15 $ 48 $ (30) $ (22) $ 33

Gross investment gains $ 4 $ 41 $ 45 $ 13 $ 277 $ 99 $ 5 $ 90 $ 381

Gross investment losses before impairments (63) (35) (18) (33) (224) (32) (39) (116) (295)

Net investment gains (losses) before impairments (59) 6 27 (20) 53 67 (34) (26) 86

Net impairment (charges) recoveries (2) — — — (4) (7) — (2) (11)

Net realized investment gains (losses) before tax (61) 6 27 (20) 49 60 (34) (28) 75

Related taxes (13) 1 6 (5) 34 12 (4) (6) 42

Net realized investment gains (losses) $ (48) $ 5 $ 21 $ (15) $ 15 $ 48 $ (30) $ (22) $ 33

($ in millions) March 31,

2025 June 30,

2025 September 30,

2025 December 31,

2025 March 31,

2026 June 30,

2026 September 30,

2026

Net unrealized investment gains (losses), net of tax, included in shareholders’ equity, by asset type

Fixed maturities $ (4,171) $ (3,833) $ (2,481) $ (1,859) $ (3,003) $ (2,477) $ (8,049)

Other (1) 2 (3) (3) (5) (1) —

Unrealized investment gains (losses) before tax (4,172) (3,831) (2,484) (1,862) (3,008) (2,478) (8,049)

Related taxes (873) (800) (514) (384) (630) (518) (1,697)

Balance, end of period $ (3,299) $ (3,031) $ (1,970) $ (1,478) $ (2,378) $ (1,960) $ (6,352)

(1) Other net realized investment gains in the first quarter of 2026 were driven by net realized investment gains related to the Canadian operations divested by the Company in the first quarter of 2026.

The Travelers Companies, Inc.

Reinsurance Recoverables

($ in millions) September 30, 2026 December 31, 2025

Gross reinsurance recoverables on paid and unpaid claims and claim adjustment expenses (1) $ 4,555 $ 4,352

Gross structured settlements (2) 2,269 2,469

Mandatory pools and associations (3) 1,396 1,485

Gross reinsurance recoverables (4) 8,220 8,306

Allowance for estimated uncollectible reinsurance (5) (142) (135)

Less amounts classified as held for sale — 285

Net reinsurance recoverables $ 8,078 $ 7,886

(1) The Company’s top five reinsurer groups, including retroactive reinsurance, included in gross reinsurance recoverables is as follows:

Reinsurer A.M. Best Rating of Group's Predominant Reinsurer September 30, 2026

Swiss Re Group A+ second highest of 16 ratings $ 635

Berkshire Hathaway A++ highest of 16 ratings 421

Munich Re Group A+ second highest of 16 ratings 350

Sompo Group A+ second highest of 16 ratings 277

Arch Insurance Group A+ second highest of 16 ratings 267

The gross reinsurance recoverables on paid and unpaid claims and claim adjustment expenses represent the current and estimated future amounts due from reinsurers on known and incurred but not reported claims. The ceded reserves are estimated in a manner consistent with the underlying direct and assumed reserves. Although this total comprises recoverables due from nearly one thousand different reinsurance entities, over half is attributable to 10 reinsurer groups.

(2) Included in reinsurance recoverables are certain amounts related to structured settlements, which comprise annuities purchased from various life insurance companies to settle certain personal physical injury claims, of which workers’ compensation claims comprise a significant portion. In cases where the Company did not receive a release from the claimant, the amounts due from the life insurance company related to the structured settlement are included in both the claims and claim adjustment expense reserves and reinsurance recoverables in the Company’s consolidated balance sheet, as the Company retains the liability to pay the claimant in the event that the life insurance company fails to make the required annuity payments. The Company would be required to make such payments, to the extent the purchased annuities are not covered by state guaranty associations.

The Company’s top five groups included in gross structured settlements is as follows:

Group A.M. Best Rating of Group's Predominant Insurer September 30, 2026

Fidelity & Guaranty Life Group A third highest of 16 ratings $ 619

Genworth Financial Group B- eighth highest of 16 ratings 310

Pacific Life Group A+ second highest of 16 ratings 200

Symetra Financial Corporation A third highest of 16 ratings 171

Brighthouse Financial, Inc. A third highest of 16 ratings 157

(3) The mandatory pools and associations represent various involuntary assigned risk pools that the Company is required to participate in. These pools principally involve workers’ compensation and automobile insurance, which provide various insurance coverages to insureds that otherwise are unable to purchase coverage in the open market. The costs of these mandatory pools in most states are usually charged back to the participating members in proportion to voluntary writings of related business in that state. In the event that a member of the pool becomes insolvent, the remaining members assume an additional pro rata share of the pool’s liabilities.

(4) Of the total reinsurance recoverables at September 30, 2026, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance, $6.21 billion, or 91%, were rated by A.M. Best Company. The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 95% were rated A- or better. The remaining 9% of reinsurance recoverables comprised the following: 5% related to captive insurance companies, 1% related to voluntary pools and 3% were balances from other companies not rated by A.M. Best Company. Certain of the Company's reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements.

(5) The Company reports its reinsurance recoverables net of an allowance for estimated uncollectible reinsurance. The allowance is based upon the Company’s ongoing review of amounts outstanding, length of collection periods, changes in reinsurer credit standing, disputes, applicable coverage defenses and other relevant factors. For structured settlements, the allowance is also based upon the Company’s ongoing review of life insurers’ creditworthiness and estimated amounts of coverage that would be available from state guaranty funds if a life insurer defaults. A probability-of-default methodology which reflects current and forecasted economic conditions is used to estimate the amount of uncollectible reinsurance due to credit-related factors and the estimate is reported in an allowance for estimated uncollectible reinsurance. The allowance also includes estimated uncollectible amounts related to dispute risk with reinsurers.

The Travelers Companies, Inc.

Net Reserves for Losses and Loss Adjustment Expense

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Statutory Reserves for Losses and Loss Adjustment Expenses

Business Insurance

Beginning of period $ 42,909 $ 43,742 $ 44,477 $ 45,148 $ 45,383 $ 45,599 $ 45,760 $ 42,909 $ 45,383

Incurred 3,650 3,530 3,614 3,138 3,463 3,138 3,586 10,794 10,187

Paid (2,847) (2,890) (2,915) (2,912) (2,635) (2,973) (2,776) (8,652) (8,384)

Foreign exchange and other (1) 30 95 (28) 9 (612) (4) (2) 97 (618)

End of period $ 43,742 $ 44,477 $ 45,148 $ 45,383 $ 45,599 $ 45,760 $ 46,568 $ 45,148 $ 46,568

Bond & Specialty Insurance

Beginning of period $ 4,938 $ 5,072 $ 5,249 $ 5,304 $ 5,367 $ 5,331 $ 5,448 $ 4,938 $ 5,367

Incurred 430 414 447 457 437 453 421 1,291 1,311

Paid (325) (307) (372) (396) (336) (334) (361) (1,004) (1,031)

Foreign exchange and other (1) 29 70 (20) 2 (137) (2) — 79 (139)

End of period $ 5,072 $ 5,249 $ 5,304 $ 5,367 $ 5,331 $ 5,448 $ 5,508 $ 5,304 $ 5,508

Personal Insurance

Beginning of period $ 8,479 $ 9,277 $ 9,346 $ 9,168 $ 8,997 $ 8,285 $ 8,227 $ 8,479 $ 8,997

Incurred 3,867 2,787 2,476 2,173 2,410 2,276 2,419 9,130 7,105

Paid (3,069) (2,767) (2,635) (2,357) (2,213) (2,334) (2,406) (8,471) (6,953)

Foreign exchange and other (1) — 49 (19) 13 (909) — — 30 (909)

End of period $ 9,277 $ 9,346 $ 9,168 $ 8,997 $ 8,285 $ 8,227 $ 8,240 $ 9,168 $ 8,240

Total

Beginning of period $ 56,326 $ 58,091 $ 59,072 $ 59,620 $ 59,747 $ 59,215 $ 59,435 $ 56,326 $ 59,747

Incurred 7,947 6,731 6,537 5,768 6,310 5,867 6,426 21,215 18,603

Paid (6,241) (5,964) (5,922) (5,665) (5,184) (5,641) (5,543) (18,127) (16,368)

Foreign exchange and other (1) 59 214 (67) 24 (1,658) (6) (2) 206 (1,666)

End of period $ 58,091 $ 59,072 $ 59,620 $ 59,747 $ 59,215 $ 59,435 $ 60,316 $ 59,620 $ 60,316

Prior Year Reserve Development: Unfavorable (Favorable)

Business Insurance

Asbestos $ — $ — $ 277 $ — $ — $ — $ 295 $ 277 $ 295

All other (74) (79) (152) (205) (162) (319) (336) (305) (817)

Total Business Insurance (2) (74) (79) 125 (205) (162) (319) (41) (28) (522)

Bond & Specialty Insurance (67) (81) (43) (30) (65) (75) (95) (191) (235)

Personal Insurance (237) (155) (104) (86) (186) (184) (98) (496) (468)

Total $ (378) $ (315) $ (22) $ (321) $ (413) $ (578) $ (234) $ (715) $ (1,225)

(1) The amount for 1Q2026 includes the impact of net reserves disposed of related to the Canadian operations divested by the Company in the first quarter of 2026.

(2) Excludes accretion of discount.

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Asbestos Reserves

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Asbestos reserves

Beginning reserves:

Gross $ 1,708 $ 1,636 $ 1,555 $ 1,798 $ 1,700 $ 1,623 $ 1,525 $ 1,708 $ 1,700

Ceded (370) (357) (318) (352) (345) (330) (310) (370) (345)

Net 1,338 1,279 1,237 1,446 1,355 1,293 1,215 1,338 1,355

Incurred losses and loss expenses:

Gross — — 327 — — — 376 327 376

Ceded — — (50) — — — (81) (50) (81)

Paid loss and loss expenses:

Gross 72 83 84 98 77 98 90 239 265

Ceded (13) (39) (16) (8) (15) (20) (15) (68) (50)

Foreign exchange and other:

Gross — 2 — — — — — 2 —

Ceded — — — (1) — — — — —

Ending reserves:

Gross 1,636 1,555 1,798 1,700 1,623 1,525 1,811 1,798 1,811

Ceded (357) (318) (352) (345) (330) (310) (376) (352) (376)

Net $ 1,279 $ 1,237 $ 1,446 $ 1,355 $ 1,293 $ 1,215 $ 1,435 $ 1,446 $ 1,435

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Capitalization

($ in millions) September 30,

2026 December 31,

2025

Debt

Short-term debt

Commercial paper $ 100 $ 100

7.75% Senior notes due April 15, 2026 — 200

Total short-term debt 100 300

Long-term debt

7.625% Junior subordinated debentures due December 15, 2027 125 125

4.95% Senior notes due July 24, 2031 (1) 750 —

6.375% Senior notes due March 15, 2033 (1) 500 500

5.05% Senior notes due July 24, 2035 (1) 500 500

6.75% Senior notes due June 20, 2036 (1) 400 400

6.25% Senior notes due June 15, 2037 (1) 800 800

5.35% Senior notes due November 1, 2040 (1) 750 750

4.60% Senior notes due August 1, 2043 (1) 500 500

4.30% Senior notes due August 25, 2045 (1) 400 400

8.50% Junior subordinated debentures due December 15, 2045 56 56

3.75% Senior notes due May 15, 2046 (1) 500 500

8.312% Junior subordinated debentures due July 1, 2046 73 73

4.00% Senior notes due May 30, 2047 (1) 700 700

4.05% Senior notes due March 7, 2048 (1) 500 500

4.10% Senior notes due March 4, 2049 (1) 500 500

2.55% Senior notes due April 27, 2050 (1) 500 500

3.05% Senior notes due June 8, 2051 (1) 750 750

5.45% Senior notes due May 25, 2053 (1) 750 750

5.70% Senior notes due July 24, 2055 (1) 750 750

Total long-term debt 9,804 9,054

Unamortized fair value adjustment 29 31

Unamortized debt issuance costs (120) (118)

9,713 8,967

Total debt 9,813 9,267

Common equity (excluding net unrealized investment gains (losses), net of tax, included in shareholders’ equity) 35,347 34,372

Total capital (excluding net unrealized investment gains (losses), net of tax, included in shareholders’ equity) $ 45,160 $ 43,639

Total debt to capital (excluding net unrealized investment gains (losses), net of tax, included in shareholders’ equity) 21.7 % 21.2 %

(1) Redeemable anytime with “make-whole” premium.

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Statutory Capital and Surplus to GAAP Shareholders' Equity Reconciliation

($ in millions) September 30,

2026 (1) December 31,

2025

Statutory capital and surplus $ 31,596 $ 31,064

GAAP adjustments

Goodwill and intangible assets 3,428 3,640

Investments (7,327) (1,238)

Noninsurance companies (4,818) (4,876)

Deferred acquisition costs 3,589 3,478

Deferred federal income tax 864 (446)

Current federal income tax (14) (6)

Reinsurance recoverables 150 41

Furniture, equipment & software 1,036 948

Agents balances 358 182

Other 133 107

Total GAAP adjustments (2,601) 1,830

GAAP shareholders’ equity $ 28,995 $ 32,894

(1) Estimated and Preliminary

See Glossary of Financial Measures and Description of Reportable Business Segments on pages 35 and 36.

The Travelers Companies, Inc.

Statement of Cash Flows

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Cash flows from operating activities

Net income $ 395 $ 1,509 $ 1,888 $ 2,496 $ 1,711 $ 2,208 $ 1,917 $ 3,792 $ 5,836

Adjustments to reconcile net income to net cash provided by operating activities:

Net realized investment (gains) losses 61 (6) (27) 20 (49) (60) 34 28 (75)

Depreciation and amortization 188 164 166 162 193 170 174 518 537

Deferred federal income tax expense (benefit) 31 (83) 320 (58) 51 (58) (59) 268 (66)

Amortization of deferred acquisition costs 1,778 1,802 1,849 1,837 1,766 1,786 1,856 5,429 5,408

Equity in income from other investments (53) (42) (74) (57) (23) (75) (72) (169) (170)

Premiums receivable (459) (438) 412 370 (434) (961) 241 (485) (1,154)

Reinsurance recoverables (97) 78 (250) 132 (108) (23) (68) (269) (199)

Deferred acquisition costs (1,822) (1,917) (1,877) (1,757) (1,837) (1,912) (1,907) (5,616) (5,656)

Claims and claim adjustment expense reserves 1,818 725 845 (88) 1,211 319 903 3,388 2,433

Unearned premium reserves 419 495 331 (661) 351 559 198 1,245 1,108

Other (899) 47 644 289 (634) (37) 661 (208) (10)

Net cash provided by operating activities 1,360 2,334 4,227 2,685 2,198 1,916 3,878 7,921 7,992

Cash flows from investing activities

Proceeds from maturities of fixed maturities 2,801 3,071 2,886 2,902 3,014 2,963 2,823 8,758 8,800

Proceeds from sales of investments:

Fixed maturities 253 348 178 53 251 134 532 779 917

Equity securities 68 32 31 29 52 64 18 131 134

Real estate investments — — — — — 17 — — 17

Other investments 63 79 68 111 60 65 78 210 203

Purchases of investments:

Fixed maturities (4,296) (4,847) (5,376) (4,252) (5,356) (4,799) (5,386) (14,519) (15,541)

Equity securities (25) (35) (34) (32) (25) (31) (21) (94) (77)

Real estate investments (7) (6) (10) (25) (12) (10) (12) (23) (34)

Other investments (96) (80) (86) (84) (69) (112) (89) (262) (270)

Net sales (purchases) of short-term securities 239 (215) (2,051) 1,082 (945) 2,081 (982) (2,027) 154

Securities transactions in the course of settlement 308 64 (4) (224) 430 (400) 352 368 382

Proceeds from the divestiture of the Canadian business — — — — 2,384 — 4 — 2,388

Other (116) (127) (155) (135) (119) (137) (130) (398) (386)

Net cash used in investing activities (808) (1,716) (4,553) (575) (335) (165) (2,813) (7,077) (3,313)

The Travelers Companies, Inc.

Statement of Cash Flows (Continued)

($ in millions) 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 YTD 3Q2025 YTD 3Q2026

Cash flows from financing activities

Treasury stock acquired - share repurchase authorizations (250) (500) (619) (1,635) (1,785) (1,313) (1,487) (1,369) (4,585)

Treasury stock acquired - net employee share-based compensation (102) (22) (1) (2) (149) (5) (5) (125) (159)

Dividends paid to shareholders (240) (250) (247) (242) (237) (263) (259) (737) (759)

Payment of debt — — — — — (200) — — (200)

Issuance of debt — — 1,233 — — — 744 1,233 744

Issuance of common stock - employee share options 57 70 36 51 86 38 88 163 212

Net cash provided by (used in) financing activities (535) (702) 402 (1,828) (2,085) (1,743) (919) (835) (4,747)

Effect of exchange rate changes on cash and restricted cash 8 19 (6) 2 (5) (2) (1) 21 (8)

Net increase (decrease) in cash and restricted cash 25 (65) 70 284 (227) 6 145 30 (76)

Cash and restricted cash at beginning of period 699 724 659 729 842 615 621 699 842

Less amounts classified as held for sale at end of period — — — 171 — — — — —

Cash and restricted cash at end of period $ 724 $ 659 $ 729 $ 842 $ 615 $ 621 $ 766 $ 729 $ 766

Supplemental disclosure of cash flow information

Income taxes paid $ 24 $ 538 $ 194 $ 518 $ 12 $ 1,100 $ 575 $ 756 $ 1,687

Interest paid $ 61 $ 136 $ 60 $ 136 $ 94 $ 136 $ 94 $ 257 $ 324

The Travelers Companies, Inc.

Glossary of Financial Measures and Description of Reportable Business Segments

The following measures are used by the Company’s management to evaluate financial performance against historical results, to establish performance targets on a consolidated basis, and for other reasons as discussed below. In some cases, these measures are considered non-GAAP financial measures under applicable SEC rules because they are not displayed as separate line items in the consolidated financial statements or are not required to be disclosed in the notes to financial statements or, in some cases, include or exclude certain items not ordinarily included or excluded in the most comparable GAAP financial measure.

Other companies may calculate these measures differently, and, therefore, their measures may not be comparable to those used by the Company’s management.

Average shareholders’ equity is (a) the sum of total shareholders’ equity at the beginning and end of each of the quarters for the period presented divided by (b) the number of quarters in the period presented times two. Adjusted shareholders’ equity is shareholders’ equity excluding net realized investment gains (losses), net of tax, net unrealized investment gains (losses), net of tax, included in shareholders’ equity for the periods presented and the effect of a change in tax laws and tax rates at enactment (excluding the portion related to net unrealized investment gains (losses)). Adjusted average shareholders’ equity is (a) the sum of total adjusted shareholders’ equity at the beginning and end of each of the quarters for the period presented divided by (b) the number of quarters in the period presented times two.

Reconciliation of Shareholders’ Equity to Adjusted Shareholders’ Equity

As of

($ in millions) March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 September 30, 2026

Shareholders’ equity $ 28,191 $ 29,518 $ 31,609 $ 32,894 $ 31,986 $ 33,121 $ 28,995

Adjustments:

Net unrealized investment (gains) losses, net of tax, included in shareholders’ equity 3,299 3,031 1,970 1,478 2,378 1,960 6,352

Net realized investment (gains) losses, net of tax 48 43 22 37 (15) (63) (33)

Adjusted shareholders’ equity $ 31,538 $ 32,592 $ 33,601 $ 34,409 $ 34,349 $ 35,018 $ 35,314

Return on equity is the ratio of annualized net income (loss) to average shareholders’ equity for the periods presented. Core return on equity is the ratio of annualized core income (loss) to adjusted average shareholders’ equity for the periods presented. In the opinion of the Company’s management, these are important indicators of how well management creates value for its shareholders through its operating activities and its capital management.

A catastrophe is a severe loss designated, or reasonably expected by the Company to be designated, a catastrophe by one or more industry recognized organizations that track and report on insured losses resulting from catastrophic events, such as Property Claim Services (PCS) for events in the United States and Canada. Catastrophes can be caused by various natural events, including, among others, hurricanes, tornadoes and other windstorms, earthquakes, hail, wildfires, severe winter weather, floods, tsunamis, volcanic eruptions and other naturally-occurring events, such as solar flares. Catastrophes can also be man-made, such as terrorist attacks and other intentionally destructive acts including those involving nuclear, biological, chemical and radiological events, cyber events, explosions and destruction of infrastructure. Each catastrophe has unique characteristics and catastrophes are not predictable as to timing or amount. Their effects are included in net and core income and claims and claim adjustment expense reserves upon occurrence. A catastrophe may result in the payment of reinsurance reinstatement premiums and assessments from various pools. The Company’s threshold for disclosing catastrophes is primarily determined at the reportable segment level. If a threshold for one segment or a combination thereof is reached and the other segments have losses from the same event, losses from the event are identified as catastrophe losses in the segment results and for the consolidated results of the Company. Additionally, an aggregate threshold is applied for international business across all reportable segments. The threshold for 2026 ranges from $20 million to $30 million of losses before reinsurance and taxes.

The Travelers Companies, Inc.

Glossary of Financial Measures and Description of Reportable Business Segments

Combined ratio For Statutory Accounting Practices (SAP), the combined ratio is the sum of the SAP loss and LAE ratio and the SAP underwriting expense ratio as defined in the statutory financial statements required by insurance regulators. The combined ratio, as used in this financial supplement, is the equivalent of, and is calculated in the same manner as, the SAP combined ratio except that the SAP underwriting expense ratio is based on net written premiums and the underwriting expense ratio as used in this financial supplement is based on net earned premiums. For SAP, the loss and LAE ratio is the ratio of incurred losses and loss adjustment expenses less certain administrative services fee income to net earned premiums as defined in the statutory financial statements required by insurance regulators. The loss and LAE ratio as used in this financial supplement is calculated in the same manner as the SAP ratio. For SAP, the underwriting expense ratio is the ratio of underwriting expenses incurred (including commissions paid), less certain administrative services fee income and billing and policy fees and other, to net written premiums as defined in the statutory financial statements required by insurance regulators. The underwriting expense ratio as used in this financial supplement, is the ratio of underwriting expenses (including the amortization of deferred acquisition costs), less certain administrative services fee income and billing and policy fees, to net earned premiums. Underlying combined ratio is the combined ratio adjusted to exclude the impact of prior year reserve development and catastrophes, net of reinsurance.

Other companies’ method of computing similarly titled measures may not be comparable to the Company’s method of computing these ratios.

Total capital is the sum of total shareholders’ equity and debt. Debt-to-capital ratio excluding net unrealized gain (loss) on investments, net of tax, included in shareholders’ equity is the ratio of debt to total capital excluding net unrealized investment gains and losses, net of tax, included in shareholders’ equity. In the opinion of the Company’s management, the debt to capital ratio is useful in an analysis of the Company’s financial leverage.

Travelers has organized its businesses into the following reportable business segments:

Business Insurance - Business Insurance offers a broad array of property and casualty insurance products and services to its customers, primarily in the United States, as well as in the United Kingdom, the Republic of Ireland and throughout other parts of the world, including as a corporate member of Lloyd’s. Business Insurance is organized as follows: Select Accounts; Middle Market including Commercial Accounts, Construction, Technology & Life Sciences, Public Sector Services, Energy, Excess Casualty, Inland Marine, Ocean Marine, and Boiler & Machinery; National Accounts; National Property and Other including National Property, Northland Transportation, Agribusiness, Northfield and National Programs; and International, including Global Services and a 20% quota-share reinsurance agreement with subsidiaries of Pelagos Insurance Capital Limited (formerly known as Fidelis Insurance Holdings Limited). Business Insurance also includes Simply Business, a leading provider of small business insurance policies primarily in the United Kingdom, and Business Insurance Other, which primarily comprises the Company’s asbestos and environmental liabilities and other runoff operations, including certain assumed reinsurance arrangements.

Bond & Specialty Insurance - Bond & Specialty Insurance offers surety, fidelity, management liability, professional liability, and other property and casualty coverages and related risk management services to its customers, primarily in the United States, and certain surety and/or specialty insurance products in Canada, the United Kingdom, the Republic of Ireland and Brazil (through a joint venture as described below), in each case utilizing various degrees of financially-based underwriting approaches. The range of coverages includes performance, payment and commercial surety bonds for construction and general commercial enterprises; management liability coverages including directors’ and officers’ liability, employment practices liability, fidelity liability, fiduciary liability and cyber risk for public corporations, private companies, not-for-profit organizations and financial institutions; professional liability coverage for a variety of professionals including, among others, lawyers and design professionals; in the United States only, property, workers’ compensation, auto and general liability for financial institutions; and transactional liability coverages to public and private companies.

Bond & Specialty Insurance’s surety business in Brazil is conducted through Junto Holding Brasil S.A. (Junto). The Company owns 49.5% of Junto, a market leader in surety coverages in Brazil. This joint venture investment is accounted for using the equity method and is included in “other investments” on the consolidated balance sheet.

Personal Insurance - Personal Insurance offers a broad range of property and casualty insurance products and services in the United States covering individuals’ personal risks. The primary products of automobile and homeowners insurance are complemented by a broad suite of related coverages.

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v3.26.3

Cover Page

Oct. 16, 2026

Cover [Abstract]

Document type

8-K

Document period end date

Oct. 16, 2026

Registrant name

Travelers Companies, Inc.

Entity incorporation, state

Entity file number

001-10898

Entity tax identification number

41-0518860

Entity address, address line one

485 Lexington Avenue

Entity address, city

New York

Entity address, state

Entity address, postal zip code

10017

City area code

917

Local phone number

778-6000

Written communications

false

Soliciting material

false

Pre-commencement communications pursuant to Rule 14d-2(b)

false

Pre-commencement communications pursuant to Rule 13e-4(c)

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Title of 12(b) security

Common stock, without par value

Trading symbol

TRV

Security exchange name

NYSE

Entity emerging growth company

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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

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No definition available.

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dei_DocumentPeriodEndDate

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xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

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Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Name of the City or Town

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No definition available.

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Name:

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Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Code for the postal or zip code

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No definition available.

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Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Name of the state or province.

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No definition available.

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Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

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Data Type:

dei:stateOrProvinceItemType

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Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityCentralIndexKey

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

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Data Type:

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duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

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Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityRegistrantName

Namespace Prefix:

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xbrli:normalizedStringItemType

Balance Type:

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

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Data Type:

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Period Type:

duration

- Definition

Local phone number for entity.

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No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Name:

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Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Name:

dei_Security12bTitle

Namespace Prefix:

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Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

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Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

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Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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