The St. Paul Travelers Companies today reported third-quarter net income of $1 billion, compared with $162 million for the same period last year, as this year's storm-free quarter continues to provide dramatic earnings contrasts.

Morgan Stanley analyst William Wilt said the earnings were 16 cents per share ahead of his estimates and 11 cents per share ahead of analysts' consensus.

"The returns look to be high quality, with underwriting accounting for all of the upside from our estimates, and net investment income a slight miss," Mr. Wilt wrote.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.