(Bloomberg) — Travelers Cos., the only property- casualty insurer in the Dow Jones Industrial Average, said profit climbed 17% to a record in the first quarter on investments and expanding margins.

Net income rose to $1.05 billion, or $2.95 a share, from $896 million, or $2.33, a year earlier, the New York-based company said today in a statement. Operating profit was also $2.95 a share, beating the $2.16 average estimate of 26 analysts surveyed by Bloomberg.

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