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The Travelers Companies logo

The Travelers Companies Business Segments

Business, geographic, and product segment breakdowns

The Travelers Companies generates $48.9B in annual revenue across 3 key segments: Bond And Specialty Insurance ($4.1B), Business And International Insurance ($22.4B), and Personal Insurance ($17.4B). Based on the Q1 2026 filing.

Bond And Specialty Insurance (TTM)$4.1BBusiness And International Insurance (TTM)$22.4BPersonal Insurance (TTM)$17.4B
Latest FilingQ1 2026
Report Date2026-04-16
Market Cap$64.7B
P/E Ratio8.51
ROE25.27%

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$40M———$15M—
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—
Automobile$0———$0—
General Liability$124M———$121M—
Other Including Impacts Of Retroactive Reinsurance$0———$0—
Other Insurance Contracts$4M———$5M—
Structured Settlement Annuity$0———$0—
Unallocated Loss Adjustment Expense Reserve$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—
Automobile$9.1B———$9.7B—
General Liability$13.7B———$14.9B—
Other Insurance Contracts$5B———$5.6B—
Other Including Impacts Of Retroactive Reinsurance$92M———$99M—
Structured Settlement Annuity$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—
Automobile909300000000.0%———973200000000.0%—
General Liability1378100000000.0%———1503000000000.0%—
Other Insurance Contracts$5B———$5.6B—
Other Including Impacts Of Retroactive Reinsurance$92M———$99M—
Structured Settlement Annuity$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$5M———$3M—
Automobile$618M———$630M—
General Liability$1.5B———$1.9B—
Other Insurance Contracts$1.7B———$1.8B—
Other Including Impacts Of Retroactive Reinsurance-$52M———-$84M—
Structured Settlement Annuity$2.6B———$2.4B—
Unallocated Loss Adjustment Expense Reserve$17M———$18M—

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
Automobile772300000000.0%———3450500000000.0%—
General Liability334100000000.0%———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$3B$3B$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
Automobile568300000000.0%———2529000000000.0%—
General Liability183500000000.0%———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$11M$11M$11M$10M$11M$11M

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$970M$760M$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$3B$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———$1B—

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-$227M-$360M-$290M$0-$291M-$385M

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$6B$6B$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$232M-$59M-$213M—-$24M$32M

Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$6B$8B$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$262M$378M$315M$22M$325M$413M

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$8B$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 Insurance1.3%1.3%1.3%1.3%1.3%—

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$796M$775M$770M$811M$750M$478M

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$285M$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$189M$194.5M$194.5M$194.5M$194.5M—
Business And International Insurance$897M$949M$949M$949M$949M—
Personal Insurance$657.3M$673M$673M$673M$673M—

Supplementary Insurance Information Benefits Claims Losses And Settlement Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$443.5M$441M$441M$441M$441M—
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$640M$695.5M$695.5M$695.5M$695.5M—
Personal Insurance$160M$183M$183M$183M$183M—

Amortization of deferred acquisition costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business Insurance$933M$917M$944M$973M$962M$938M
Personal Insurance$677M$674M$663M$679M$676M$634M
Bond & Specialty Insurance$197M$187M$195M$197M$199M$194M

Catastrophe losses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business Insurance$94M$509M$368M$139M$57M$379M
Personal Insurance$79M$1.7B$554M$263M$37M$374M
Bond & Specialty Insurance$2M$19M$5M$0$1M$8M

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$9B———$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$432M$434M$418M$451M$461M$441M

Core income (loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business And International Insurance$1.2B$683M$813M$907M$1.3B$839M
Personal Insurance$798M-$374M$534M$807M$1.1B$704M
Bond And Specialty Insurance$228M$220M$244M$250M$236M$254M

Deferred acquisition costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$502M———$542M—
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$96M$113M$100M$99M$97M$114M
Personal Insurance$46M$50M$45M$44M$43M$50M
Bond And Specialty Insurance$20M$23M$18M$21M$20M$27M

Fee income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business Insurance$115M$108M$111M$114M$112M$111M
Personal Insurance$13M$11M$13M$13M$13M$10M
Bond & Specialty Insurance$0$0$0$0$0$0

General and administrative expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business Insurance$824M$847M$875M$894M$866M$912M
Personal Insurance$421M$396M$444M$458M$448M$397M
Bond & Specialty Insurance$217M$205M$214M$207M$217M$219M

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$834M$834M$838M$838M$838M$837M
Personal Insurance$801M$801M$810M$806M$809M$646M

Income Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business And International Insurance$290M$159M$197M$211M$324M$196M
Personal Insurance$201M-$106M$136M$205M$250M$178M
Bond And Specialty Insurance$55M$57M$62M$61M$64M$28M

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

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Personal Insurance$70M$237M$155M$104M$86M$186M
Business And International Insurance$147M$74M$79M-$125M$205M$162M
Bond And Specialty Insurance$45M$67M$81M$43M$30M$65M

Net investment income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business And International Insurance$677M$656M$662M$727M$737M$708M
Personal Insurance$173M$172M$173M$190M$197M$187M
Bond And Specialty Insurance$105M$102M$107M$116M$120M$113M

Other operating expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$208M$210.8M$210.8M$210.8M$210.8M—
Business And International Insurance$825.8M$870.5M$870.5M$870.5M$870.5M—
Personal Insurance$410M$436.5M$436.5M$436.5M$436.5M—

Other revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business And International Insurance$79M$82M$95M$111M$91M$104M
Personal Insurance$25M$24M$23M$29M$26M$32M
Bond And Specialty Insurance$8M$6M$5M$8M$8M$5M

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$1B$995M$1B$1B$1B$1B

Premiums Written, Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bond And Specialty Insurance$1B$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$1B$1B$1B$1B—
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$1B$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$3B———$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$106B$106.1B$106.4B
Personal Insurance$21.1B$21.3B$21.8B$22.8B$22.8B$21B
Bond And Specialty Insurance$12.6B$13B$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