Income StatementBalance SheetCash FlowSegments
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The Travelers Companies Business Segments

Business, geographic, and product segment breakdowns
Bond And Specialty Insurance (TTM)$4.1BBusiness And International Insurance (TTM)$22.4BPersonal Insurance (TTM)$17.4B

Products & Services

Claims and claim adjustment expense reserves

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile$9.7B———$10.4B—
General Liability$15.1B———$16.8B—
Other Including Impacts Of Retroactive Reinsurance$40.0M———$15.0M—
Other Insurance Contracts$6.8B———$7.3B—
Structured Settlement Annuity$2.6B———$2.4B—
Unallocated Loss Adjustment Expense Reserve$2.9B———$3.1B—

Discount (Net of Reinsurance)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accident And Health Insurance Excluding Workers Compensation$0.0———$0.0—
Automobile$0.0———$0.0—
General Liability$124.0M———$121.0M—
Other Including Impacts Of Retroactive Reinsurance$0.0———$0.0—
Other Insurance Contracts$4.0M———$5.0M—
Structured Settlement Annuity$0.0———$0.0—
Unallocated Loss Adjustment Expense Reserve$0.0———$0.0—

Liability for Unpaid Claims and Claims Adjustment Expense, Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accident And Health Insurance Excluding Workers Compensation$0.0———$0.0—
Automobile$9.1B———$9.7B—
General Liability$13.7B———$14.9B—
Other Insurance Contracts$5.0B———$5.6B—
Other Including Impacts Of Retroactive Reinsurance$92.0M———$99.0M—
Structured Settlement Annuity$0.0———$0.0—
Unallocated Loss Adjustment Expense Reserve$2.9B———$3.1B—

Net Undiscounted Claims and Claim Adjustment Expense Reserves

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accident And Health Insurance Excluding Workers Compensation$0.0———$0.0—
Automobile909300000000.0%———973200000000.0%—
General Liability1378100000000.0%———1503000000000.0%—
Other Insurance Contracts$5.0B———$5.6B—
Other Including Impacts Of Retroactive Reinsurance$92.0M———$99.0M—
Structured Settlement Annuity$0.0———$0.0—
Unallocated Loss Adjustment Expense Reserve$2.9B———$3.1B—

Reinsurance Recoverables on Unpaid Losses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accident And Health Insurance Excluding Workers Compensation$5.0M———$3.0M—
Automobile$618.0M———$630.0M—
General Liability$1.5B———$1.9B—
Other Insurance Contracts$1.7B———$1.8B—
Other Including Impacts Of Retroactive Reinsurance-$52.0M———-$84.0M—
Structured Settlement Annuity$2.6B———$2.4B—
Unallocated Loss Adjustment Expense Reserve$17.0M———$18.0M—

Cumulative Number of Reported Claims (Audited)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile129804800.0%———130077100.0%—
General Liability2779900.0%———2995500.0%—

IBNR Reserves Dec. 31, 2025 (Audited)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile305400000000.0%———322200000000.0%—
General Liability283600000000.0%———313100000000.0%—

Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance (Audited for 2025)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile3162700000000.0%———3450500000000.0%—
General Liability2319700000000.0%———2560500000000.0%—

Liability for Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance, Before Disclosed Accident Years (Audited)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile50600000000.0%———51700000000.0%—
General Liability328100000000.0%———314900000000.0%—

Liability for Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance, Disclosed Accident Years (Audited)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile858700000000.0%———921500000000.0%—
General Liability1050000000000.0%———1188100000000.0%—

Premiums

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile$2.9B$2.9B$2.9B$3.0B$3.0B$2.9B
General Liability$1.4B$1.3B$1.3B$1.4B$1.4B$1.3B

Short-Duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile2304000000000.0%———2529000000000.0%—
General Liability1269700000000.0%———1372400000000.0%—

Short-duration Insurance Contracts, Historical Claims Duration, Year Five

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile12.4%———12.8%—
General Liability25.9%———26.1%—

Short-duration Insurance Contracts, Historical Claims Duration, Year Four

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile20.3%———19.2%—
General Liability33.4%———32.0%—

Short-duration Insurance Contracts, Historical Claims Duration, Year One

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile82.3%———80.8%—
General Liability12.0%———11.8%—

Short-duration Insurance Contracts, Historical Claims Duration, Year Three

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile27.5%———27.1%—
General Liability34.8%———33.8%—

Short-duration Insurance Contracts, Historical Claims Duration, Year Two

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile42.2%———42.6%—
General Liability32.3%———32.1%—

Short-duration Insurance Contracts, Historical Claims Duration, Year Eight

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
General Liability7.0%———7.7%—

Short-duration Insurance Contracts, Historical Claims Duration, Year Nine

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
General Liability4.9%———6.1%—

Short-duration Insurance Contracts, Historical Claims Duration, Year Seven

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
General Liability13.8%———13.9%—

Short-duration Insurance Contracts, Historical Claims Duration, Year Six

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
General Liability18.6%———19.6%—

Short-duration Insurance Contracts, Historical Claims Duration, Year Ten

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
General Liability3.7%———3.8%—

Accretion expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$11.0M$11.0M$11.0M$10.0M$11.0M$11.0M

Amount of increase in gross claims and claim adjustment expense reserves

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance—$1.9B$970.0M$760.0M$0.0$1.2B

Claims and claim adjustment expense payments for claims arising in current year

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$3.7B$1.9B$2.6B$3.1B$3.0B$1.2B

Claims and claim adjustment expense payments for claims arising in prior years

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$2.7B$4.4B$3.3B$2.9B$2.7B$4.1B

Discount included in reserves for long-term disability and annuity claim payments primarily arising from workers' compensation insurance and workers' compensation excess insurance policies

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$1.1B———$1.0B—

Estimated claims and claim adjustment expenses for claims arising in the current year

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$6.2B$8.3B$7.1B$6.6B$6.1B$6.7B

Estimated decrease in claims and claim adjustment expenses for claims arising in prior years

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance-$227.0M-$360.0M-$290.0M$2.0M-$291.0M-$385.0M

Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$6.4B$6.3B$6.0B$6.0B$5.7B$5.3B

Liability for Unpaid Claims and Claims Adjustment Expense, Foreign Currency Translation Gain (Loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$232.0M-$59.0M-$213.0M$68.0M-$24.0M$32.0M

Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$6.0B$8.0B$6.8B$6.6B$5.8B$6.4B

Liability for Unpaid Claims and Claims Adjustment Expense, Net, Business Divestiture

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property-casualty—————$1.6B

Net favorable prior year reserve development impacting the Company's results of operations

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$262.0M$378.0M$315.0M$22.0M$325.0M$413.0M

Reinsurance Recoverable for Unpaid Claims and Claims Adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$7.7B$7.8B$7.8B$8.0B$7.8B$7.7B

Reserves for long-term disability and annuity claim payments primarily arising from workers' compensation insurance and workers' compensation excess insurance policies, discount rate (percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance0.010.010.010.010.01—

Reserves for long-term disability and annuity claim payments primarily arising from workers' compensation insurance and workers' compensation excess insurance policies, net of discount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$2.7B———$2.6B—

Geographic

Premiums

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non Us$796.0M$775.0M$770.0M$811.0M$750.0M$478.0M

Premiums Written, Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non Us$783.8M$791.5M$791.5M$791.5M$791.5M—

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Non United States$285.0M$280.8M$280.8M$280.8M$280.8M—

Business Segments

Supplementary Insurance Information Amortization Of Deferred Policy Acquisition Costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$189.0M$194.5M$194.5M$194.5M$194.5M—
Business And International Insurance$897.0M$949.0M$949.0M$949.0M$949.0M—
Personal Insurance$657.3M$673.0M$673.0M$673.0M$673.0M—

Supplementary Insurance Information Benefits Claims Losses And Settlement Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$443.5M$441.0M$441.0M$441.0M$441.0M—
Business And International Insurance$3.4B$3.5B$3.5B$3.5B$3.5B—
Personal Insurance$2.9B$2.8B$2.8B$2.8B$2.8B—

Supplementary Insurance Information Net Investment Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$97.5M$111.3M$111.3M$111.3M$111.3M—
Business And International Insurance$640.0M$695.5M$695.5M$695.5M$695.5M—
Personal Insurance$160.0M$183.0M$183.0M$183.0M$183.0M—

Amortization of deferred acquisition costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business Insurance$933.0M$917.0M$944.0M$973.0M$962.0M$938.0M
Personal Insurance$677.0M$674.0M$663.0M$679.0M$676.0M$634.0M
Bond & Specialty Insurance$197.0M$187.0M$195.0M$197.0M$199.0M$194.0M

Catastrophe losses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business Insurance$94.0M$509.0M$368.0M$139.0M$57.0M$379.0M
Personal Insurance$79.0M$1.7B$554.0M$263.0M$37.0M$374.0M
Bond & Specialty Insurance$2.0M$19.0M$5.0M$0.0$1.0M$8.0M

Claims and claim adjustment expense reserves

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$5.4B———$5.7B—
Business And International Insurance$49.7B———$51.7B—
Personal Insurance$9.0B———$8.4B—

Claims and claim adjustment expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business Insurance$3.2B$3.7B$3.6B$3.7B$3.2B$3.5B
Personal Insurance$2.4B$3.9B$2.8B$2.5B$2.2B$2.4B
Bond & Specialty Insurance$432.0M$434.0M$418.0M$451.0M$461.0M$441.0M

Core income (loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business And International Insurance$1.2B$683.0M$813.0M$907.0M$1.3B$839.0M
Personal Insurance$798.0M-$374.0M$534.0M$807.0M$1.1B$704.0M
Bond And Specialty Insurance$228.0M$220.0M$244.0M$250.0M$236.0M$254.0M

Deferred acquisition costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$502.0M———$542.0M—
Business And International Insurance$1.7B———$1.8B—
Personal Insurance$1.3B———$1.2B—

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business And International Insurance—$113.0M$100.0M$99.0M$97.0M$114.0M
Personal Insurance—$50.0M$45.0M$44.0M$43.0M$50.0M
Bond And Specialty Insurance—$23.0M$18.0M$21.0M$20.0M$27.0M

Fee income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business Insurance$115.0M$108.0M$111.0M$114.0M$112.0M$111.0M
Personal Insurance$13.0M$11.0M$13.0M$13.0M$13.0M$10.0M
Bond & Specialty Insurance$0.0$0.0$0.0$0.0$0.0$0.0

General and administrative expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business Insurance$824.0M$847.0M$875.0M$894.0M$866.0M$912.0M
Personal Insurance$421.0M$396.0M$444.0M$458.0M$448.0M$397.0M
Bond & Specialty Insurance$217.0M$205.0M$214.0M$207.0M$217.0M$219.0M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business And International Insurance$2.6B$2.6B$2.6B$2.6B$2.6B$2.6B
Bond And Specialty Insurance$834.0M$834.0M$838.0M$838.0M$838.0M$837.0M
Personal Insurance$801.0M$801.0M$810.0M$806.0M$809.0M$646.0M

Income Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business And International Insurance$290.0M$159.0M$197.0M$211.0M$324.0M$196.0M
Personal Insurance$201.0M-$106.0M$136.0M$205.0M$250.0M$178.0M
Bond And Specialty Insurance$55.0M$57.0M$62.0M$61.0M$64.0M$28.0M

Net favorable prior year reserve development impacting the Company's results of operations

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Personal Insurance$70.0M$237.0M$155.0M$104.0M$86.0M$186.0M
Business And International Insurance$147.0M$74.0M$79.0M-$125.0M$205.0M$162.0M
Bond And Specialty Insurance$45.0M$67.0M$81.0M$43.0M$30.0M$65.0M

Net investment income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business And International Insurance$677.0M$656.0M$662.0M$727.0M$737.0M$708.0M
Personal Insurance$173.0M$172.0M$173.0M$190.0M$197.0M$187.0M
Bond And Specialty Insurance$105.0M$102.0M$107.0M$116.0M$120.0M$113.0M

Other operating expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$208.0M$210.8M$210.8M$210.8M$210.8M—
Business And International Insurance$825.8M$870.5M$870.5M$870.5M$870.5M—
Personal Insurance$410.0M$436.5M$436.5M$436.5M$436.5M—

Other revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business And International Insurance$79.0M$82.0M$95.0M$111.0M$91.0M$104.0M
Personal Insurance$25.0M$24.0M$23.0M$29.0M$26.0M$32.0M
Bond And Specialty Insurance$8.0M$6.0M$5.0M$8.0M$8.0M$5.0M

Premiums

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business And International Insurance$5.5B$5.5B$5.5B$5.7B$5.7B$5.5B
Personal Insurance$4.3B$4.3B$4.4B$4.4B$4.4B$4.1B
Bond And Specialty Insurance$1.0B$995.0M$1.0B$1.0B$1.0B$1.0B

Premiums Written, Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$1.0B$1.1B$1.1B$1.1B$1.1B—
Business And International Insurance$5.5B$5.7B$5.7B$5.7B$5.7B—
Personal Insurance$4.3B$4.4B$4.4B$4.4B$4.4B—

SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$989.5M$1.0B$1.0B$1.0B$1.0B—
Business And International Insurance$5.3B$5.6B$5.6B$5.6B$5.6B—
Personal Insurance$4.2B$4.3B$4.3B$4.3B$4.3B—

SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Written

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$1.0B$1.1B$1.1B$1.1B$1.1B—
Business And International Insurance$5.5B$5.7B$5.7B$5.7B$5.7B—
Personal Insurance$4.3B$4.4B$4.4B$4.4B$4.4B—

SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Unearned Premium

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$3.0B———$3.1B—
Business And International Insurance$10.8B———$11.1B—
Personal Insurance$8.4B———$8.2B—

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business And International Insurance$98.3B$100.6B$102.6B$106.0B$106.1B$106.4B
Personal Insurance$21.1B$21.3B$21.8B$22.8B$22.8B$21.0B
Bond And Specialty Insurance$12.6B$13.0B$13.4B$13.8B$13.7B$13.8B

Total segment revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business And International Insurance$6.4B$6.3B$6.4B$6.7B$6.6B$6.4B
Personal Insurance$4.5B$4.5B$4.6B$4.6B$4.6B$4.3B
Bond And Specialty Insurance$1.1B$1.1B$1.1B$1.2B$1.2B$1.1B