# The Travelers Companies, Inc. (TRV) — Recent Events

## Filings that contain financial statements

- **Form 8-K filed October 16, 2026 (accession 0000086312-26-000180)** — third quarter 2026 earnings release (Exhibit 99.1) and financial supplement (Exhibit 99.2) for the quarter and nine months ended September 30, 2026. The release carries the consolidated highlights table; the supplement carries the consolidated balance sheet and statement of cash flows, with quarterly income and segment tables.
- **Form 8-K filed July 17, 2026 (accession 0000086312-26-000143)** — second quarter 2026 release and supplement, quarter and six months ended June 30, 2026.
- **Form 8-K filed April 16, 2026 (accession 0000086312-26-000110)** — first quarter 2026 release and supplement, quarter ended March 31, 2026.
- **Form 8-K filed January 21, 2026 (accession 0000086312-26-000008)** — fourth quarter and full year 2025 release and supplement, year ended December 31, 2025.

## Earnings and capital returns

- **October 16, 2026 — third quarter 2026 results (0000086312-26-000180).** Net income $1.917 billion ($9.04 per diluted share) versus $1.888 billion ($8.24) a year earlier; core income $1.947 billion ($9.18 per diluted share). Combined ratio 86.8%, underlying combined ratio 84.1%. Net favorable prior-year reserve development was $234 million pre-tax. Net written premiums were $11.480 billion and net investment income a record $1.098 billion pre-tax. The company returned $1.769 billion of capital, including $1.508 billion of share repurchases (4.0 million shares at an average $376.00), and had $2.415 billion of repurchase capacity left at September 30, 2026. The Board declared a regular quarterly dividend of $1.25 per share, payable December 31, 2026. Nine-month net income was $5.836 billion ($27.05 per diluted share). Shareholders' equity of $28.995 billion was down 12% from year-end 2025, mainly on higher net unrealized investment losses. The release gave no numeric financial guidance.
- **July 17, 2026 — second quarter 2026 results (0000086312-26-000143).** Net income $2.208 billion ($10.26 per diluted share); core income $2.160 billion ($10.04). Combined ratio 83.6%; catastrophe losses $518 million pre-tax versus $927 million a year earlier; net favorable prior-year development $578 million pre-tax. Capital returned $1.577 billion, including $1.311 billion of repurchases.
- **April 16, 2026 — first quarter 2026 results (0000086312-26-000110).** Net income $1.711 billion ($7.78 per diluted share); core income $1.696 billion ($7.71). Catastrophe losses $761 million pre-tax versus $2.266 billion a year earlier. Capital returned $2.223 billion, including $1.985 billion of repurchases. The Board raised the regular quarterly dividend 14% to $1.25 per share from $1.10, payable June 30, 2026.
- **January 21, 2026 — fourth quarter and full year 2025 results (0000086312-26-000008).** Full-year 2025 net income $6.288 billion and core income $6.325 billion; fourth quarter net income $2.496 billion ($11.06 per diluted share). The Board authorized an additional $5.0 billion of share repurchases, on top of $2.015 billion remaining at December 31, 2025, with no stated expiration, and declared a $1.10 quarterly dividend payable March 31, 2026.

## M&A: sale of the Canadian business (closed)

- **May 27, 2025 — signed (0001104659-25-053000).** Travelers announced a definitive agreement to sell its Canadian personal insurance business and the majority of its Canadian commercial insurance business to Definity Financial Corporation for approximately US$2.4 billion, retaining its Canadian surety business. The company said it expected about US$0.7 billion of the net proceeds to fund additional 2026 share repurchases.
- **Closed January 2, 2026.** The quarterly report for the period ended September 30, 2026 (accession 0000086312-26-000181) states that the sale closed on January 2, 2026, with proceeds of $2.388 billion in the nine-month cash flow statement. No separate 8-K announcing the closing was filed; the first quarter 2026 release (0000086312-26-000110) refers to the Canadian operations as divested in the first quarter of 2026 and adjusts premium comparisons for the sale.

## Debt and credit facilities

- **May 15, 2026 — new $1.2 billion revolver (8-K filed May 21, 2026, 0001104659-26-065156).** A five-year $1.2 billion revolving credit agreement replaced the $1.0 billion facility, which was terminated. It expires May 15, 2031, can be increased to $1.8 billion, and requires consolidated net worth over goodwill and intangibles of at least $17.8 billion.
- **July 21–24, 2026 — senior notes (8-K filed July 24, 2026, 0001193125-26-316247).** Underwriting agreement for $750 million of 4.950% senior notes due 2031. The quarterly report (0000086312-26-000181) states the notes were issued July 24, 2026, maturing July 24, 2031, with net proceeds of about $744 million.
- **April 15, 2026.** The $200 million 7.75% senior notes matured and were repaid in full (disclosed in the quarterly report, 0000086312-26-000181).
- **Prior year:** a July 21, 2025 underwriting agreement for $1.25 billion of senior notes: $500 million of 5.050% notes due 2035 and $750 million of 5.700% notes due 2055 (8-K filed July 24, 2025, 0001193125-25-164420).

## Board and governance

- **February 6, 2026 (0001104659-26-011530)** — director Laurie J. Thomsen will not stand for re-election at the 2026 annual meeting. The filing says the decision was not due to any disagreement.
- **February 17, 2026 (0001104659-26-016444)** — director Rafael Santana likewise will not stand for re-election, with no disagreement cited.
- **May 22, 2026 (0001104659-26-065727)** — at the May 20, 2026 annual meeting, shareholders approved a 5,000,000-share increase to the 2023 Stock Incentive Plan (124.1 million for, 45.3 million against) and ratified the auditor; all listed directors were elected. A climate-related shareholder proposal received 24.9 million votes for and 143.4 million against.
- **August 7, 2026 (0001104659-26-092716)** — effective August 5, 2026, the Board expanded from eight to nine directors and elected Anthony Jabbour, former CEO of Dun & Bradstreet Holdings and former Executive Chairman and CEO of Black Knight, to the Audit and Risk Committees.