Travelers Shares Plunge After Disappointing Q1 Earnings

Travelers Companies Inc. faced significant losses due to increased catastrophe claims, despite a rise in overall revenue.

Travelers Companies reported a sharp decline in share value, dropping approximately 8% following its Q1 earnings release.
Earnings per share and core earnings both fell short of Wall Street expectations, primarily due to higher catastrophe-related losses.
Catastrophe claims soared by 33.1% this quarter, largely driven by severe weather events in the U.S.
Despite the financial setbacks, the company announced a 5% increase in its quarterly dividend, payable in late June.
Analysts had anticipated higher earnings based on previous performance, but the actual results failed to meet these expectations.