The Travelers Companies Inc. today reported second-quarter net income rose 24 percent, beating consensus estimates by about 22 cents per share.

Formerly known as St. Paul Travelers, the carrier reported second-quarter net income of $1.2 billion, or $1.90 per basic share, compared with $970 million, or $1.40 per basic share for the same year-ago quarter.

Morgan Stanley analyst William Wilt mentioned that the performance resulted partly from reserve releases, net investment income and lower catastrophe figures. "Overall, the beat was solid, though not exceptional in our view," he wrote.

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