On Friday, US insurer Travelers reported a quarterly profit that almost doubled year-on-year, thanks to higher premiums and good investment results.

The New York-based group posted record fourth-quarter net earnings of over 1.6 billion dollars, or 6.99 dollars per share, compared with 819 million (3.44 dollars per share) in the corresponding period of 2022.

By way of comparison, the consensus was for around 5.10 dollars.

Net written premiums rose by 13% to 9.99 billion dollars in the quarter, while catastrophe losses declined. Income from investments rose by 24%.

The combined ratio, which compares premiums collected to claims paid out, rose by 1.4 points to 97%, while remaining below the 100% threshold, testifying to the profitability of its activities.

Overall sales rose by 13% to $10.93 billion.

Travelers shares, one of the 30 stocks making up the Dow Jones index, gained over 4% in pre-market trading after all these announcements.

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