Travelers 2015 Annual Report Download - page 90

Download and view the complete annual report

Please find page 90 of the 2015 Travelers annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 287

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252
  • 253
  • 254
  • 255
  • 256
  • 257
  • 258
  • 259
  • 260
  • 261
  • 262
  • 263
  • 264
  • 265
  • 266
  • 267
  • 268
  • 269
  • 270
  • 271
  • 272
  • 273
  • 274
  • 275
  • 276
  • 277
  • 278
  • 279
  • 280
  • 281
  • 282
  • 283
  • 284
  • 285
  • 286
  • 287

increased over 2014. Net written premiums of $6.11 billion in 2014 increased by 4% over 2013.
Business retention rates in 2014 remained strong and were higher than in 2013. Renewal premium
changes in 2014 remained positive but were lower than in 2013. New business premiums in 2014
increased over 2013.
National Accounts. Net written premiums of $1.05 billion in 2015 were comparable to 2014.
Business retention rates remained strong in 2015 and were higher than in 2014. Renewal premium
changes in 2015 remained positive but were slightly lower than in 2014. New business premiums in 2015
increased over 2014. Net written premiums from the workers’ compensation residual market pools in
2015 were lower than in 2014. Net written premiums of $1.05 billion in 2014 increased by 4% over
2013. Business retention rates in 2014 remained strong but were lower than in 2013. Renewal premium
changes in 2014 remained positive but were slightly lower than in 2013. New business premiums in 2014
decreased from 2013. Workers’ compensation residual market pools also contributed to premium
growth in 2014.
First Party. Net written premiums of $1.56 billion in 2015 decreased by 1% from 2014. Business
retention rates in 2015 remained strong and were higher than in 2014. Renewal premium changes in
2015 were negative, compared with positive renewal premium changes in 2014. New business premiums
in 2015 decreased from 2014. Net written premiums of $1.58 billion in 2014 increased by 2% over 2013,
primarily due to lower reinsurance costs. Business retention rates in 2014 remained strong but were
slightly lower than in 2013. Renewal premium changes in 2014 remained positive but were lower than
in 2013, primarily due to lower renewal rate changes. New business premiums in 2014 decreased from
2013.
Specialized Distribution. Net written premiums of $1.11 billion in 2015 increased by 3% over 2014.
Business retention rates remained strong in 2015 and were higher than in 2014. Renewal premium
changes remained positive in 2015 but were lower than in 2014. New business premiums in 2015
increased over 2014. Net written premiums of $1.07 billion in 2014 decreased by 1% from 2013,
primarily driven by premium decreases in National Programs. Business retention rates in 2014 remained
strong and were higher than in 2013. Renewal premium changes in 2014 remained positive but were
lower than in 2013, primarily due to lower renewal rate changes. New business premiums in 2014
decreased from 2013.
International. Net written premiums of $1.82 billion in 2015 decreased by 14% from 2014,
primarily due to changes in foreign currency exchange rates. Excluding the surety line of business, for
which the following are not relevant measures, business retention rates in 2015 remained strong but
were slightly lower than in 2014. Renewal premium changes in 2015 were slightly negative, compared
with positive renewal premium changes in 2014. New business premiums in 2015 decreased from 2014.
Net written premiums of $2.12 billion in 2014 increased by 66% over 2013, primarily reflecting the
impact of the acquisition of Dominion. Excluding the surety line of business, business retention rates in
2014 remained strong and were higher than in 2013. Renewal premium changes in 2014 remained
positive but were slightly lower than in 2013. New business premiums in 2014 increased over 2013,
reflecting the impact of the acquisition of Dominion.
90