Karl Michael's questions to Travelers Companies Inc (TRV) leadership • Q4 2024
Question
Karl Michael questioned the 2025 catastrophe loss plan of 6.9 points, noting it was below recent years, and asked for the gross amount of favorable reserve development from workers' comp.
Answer
Chairman and CEO Alan Schnitzer explained the CAT plan is based on judgment that weighs recent years more heavily but considers it premature to assume recent high levels are the new normal. CFO Dan Frey specified that the favorable development from workers' compensation was in the ballpark of $250 million for the quarter.