Travelers Insurance reported first-quarter net income increased8 percent to $1.09 billion, or $1.56 per share, compared with $1.01billion, or $1.41 per share in the same period last year.
Net earned premiums for the quarter for the St. Paul,Minn.-based company, formerly known as St. Paul Travelers, rose 6percent to $5.3 billion, primarily driven by strong retentionrates, lower ceded premiums and growth in new business volume, thecompany said in an earnings statement.
Bear Stearns analyst David Small said the company beat hisestimate by 6 cents and consensus by 10 cents per share.
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