$TRV 8-K earnings — Q2 FY26

Q2 core income surged 44% to $2.16B ($10.04/share) from $1.50B a year ago, driven by sharply lower catastrophe losses ($518M vs $927M) and a 14% jump in net investment income to $883M. The combined ratio improved 670 bps to 83.6%, while net written premiums held steady at $11.53B. Travelers returned $1.58B to shareholders, including $1.31B in buybacks.

Q2 core income surged 44% to $2.16B ($10.04/share) from $1.50B a year ago, driven by sharply lower catastrophe losses ($518M vs $927M) and a 14% jump in net investment income to $883M. The combined ratio improved 670 bps to 83.6%, while net written premiums held steady at $11.53B. Travelers returned $1.58B to shareholders, including $1.31B in buybacks.