The Travelers Companies Inc. said its Business Insurance segment pricing continued to rise in the third quarter — led by workers’ compensation and commercial auto. Rates also continued to climb in the Personal Lines segment.
CEO Jay Fishman commented during Thursday’s earnings conference call that he continues to assume the “operating environment has changed.”
“Notwithstanding the benign weather we saw in the third quarter, Mother Nature seems to be increasingly unpredictable. And we believe the low interest rate environment will continue to impact our businesses for the foreseeable future,” CEO Fishman said.
“Therefore, we will continue to seek improved pricing and take underwriting steps necessary to improve profits and produce higher returns on capital. This remains business as usual for us.”
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