Can Travelers (TRV) Keep the Earnings Streak Alive?

We expect financial transaction service provider The Travelers Companies, Inc. (TRV) to beat expectations when it reports third-quarter 2013 results on Oct 22. Our proven model shows that Travelers Companies is likely to beat earnings because it has the right combination of two key ingredients.

Positive Zacks ESP: Expected Surprise Prediction or Earnings ESP, which represents the difference between the Most Accurate estimate and the Zacks Consensus Estimate, is +8.29%. This is noteworthy and a leading indicator of a likely positive earnings surprise.

Zacks Rank Note that stocks with a Zacks Rank have a significantly higher chance of beating earnings. The sell-rated stocks (carrying a Zacks Rank #4 or 5) going into an earnings announcement should never be considered, especially when the company is seeing negative estimate revisions. Read more.

The Travelers Cos Inc., ACE Ltd, First American Financial Corp.

The U.S. equity market slipped on Thursday, November 07, 2013. The Dow Jones Industrial Average closed at 15,593.98, down 0.97%; the S&P 500 closed at 1,747.15, down 1.32%; and the NASDAQ Composite finished at 3,857.33, down 1.90%.

The property and casualty insurance industry ended on a lower note as the broader market declined. The major movers in the industry included The Travelers Cos Inc. (NYSE: TRV), ACE Ltd (NYSE: ACE), First American Financial Corp. Read more.

Travelers acquires Dominion of Canada General Insurance Company in Canada

A provider of property casualty insurance, the Travelers Companies Inc TRV closed its acquisition of the Dominion of Canada General Insurance Company from E-L Financial Corporation Limited , it disclosed on Friday. The combined organisation will be referred to as Travelers Canada and remain headquartered in Toronto, the company said.

Vice chairman and head of Travelers' Financial, Professional & International Insurance business segment, Alan Schnitzer V commented, "The combination of Travelers Canada and The Dominion is an exciting development. It creates an exceptional platform for strengthening our presence in Canada and expanding our relationships with customers and brokers. Read more

Travelers Receives Loyalty Award from Richardson Economic Development Partnership

The Travelers Companies, Inc. (NYSE: TRV) was honored yesterday by the Richardson, Texas, Chamber of Commerce and the City of Richardson with the 2013 Economic Development, Growth & Expansion Initiative (EDGE) “Loyalty Award.” The award is presented each year to local businesses that have shown a longstanding commitment to the Richardson community.

“The Chamber and the Richardson community have been great partners in supporting Travelers’ presence here, which spans more than 10 years,” said David Lavergne, Travelers Regional President for the South Central Region. “We are honored to be recognized for the contributions our employees make in the Richardson area. Their passion for both our company and the communities in which they live and work is really the driving force behind our deep, local connections to the state.” EDGE is the initiative of the Richardson Economic Development Partnership (REDP), a joint effort of the Richardson Chamber of Commerce and the City of Richardson. Read more.

E-L Financial Corporation Limited Announces the Closing of the Sale of The Dominion of Canada General Insurance Company to Travelers

E-L Financial Corporation Limited (TSX:ELF)(TSX:ELF.PR.F)(TSX:ELF.PR.G)(TSX:ELF.PR.H) today announced that it has completed the previously-announced sale of its wholly-owned subsidiary The Dominion of Canada General Insurance Company to The Travelers Companies, Inc. (NYSE:TRV) for $1.07 billion in cash, subject to certain post-closing adjustments. E-L Financial plans to allocate the proceeds of the sale to a range of investment opportunities, including global equities.

E-L Financial operates as an investment and insurance holding company. Among its other assets, E-L Financial owns 80% of The Empire Life Insurance Company, which underwrites life and health insurance policies and provides segregated funds, mutual funds and annuity products. E-L Financial remains committed to Empire Life and the life insurance industry in Canada. Read more.

Travelers Ends ExlService Agreement After Confidentiality Breach

Travelers Cos. (TRV), the property insurer in the Dow Jones Industrial Average, ended a contract with ExlService Holdings Inc. (EXLS) after the vendor’s employees violated confidentiality policies.
The staff shared a “procedural document” externally, according to a regulatory filing today from New York-based ExlService, which provides offshore business-process services to financial companies.

The employees were fired, according to the filing, which didn’t say how many people were involved.
Travelers represented 9.6 percent of the company’s revenue for the three months ended Sept. 30. Termination of the contract may lower ExlService’s revenue by $14 million to $28 million next year, according to the filing. The vendor also said it’s required to provide “disentanglement services” at its own expense for as many as 18 months. Read more.

Travelers Companies Inc : Travelers Completes Acquisition of The Dominion

The Travelers Companies, Inc. (NYSE: TRV) today announced the completion of its acquisition of The Dominion of Canada General Insurance Company from E-L Financial Corporation Limited (TSX: ELF). The combined organization, which will be referred to as Travelers Canada, will remain headquartered in Toronto.

"The combination of Travelers Canada and The Dominion is an exciting development," said Alan Schnitzer, Vice Chairman and head of Travelers' Financial, Professional & International Insurance business segment. "It creates an exceptional platform for strengthening our presence in Canada and expanding our relationships with customers and brokers.

We look forward to leveraging the strengths and expertise of both organizations to deliver an expanded range of products and an even higher level of service. Read more.

Travelers Completes Dominion Acquisition

The Travelers (NYSE: TRV  ) is now officially the owner of The Dominion of Canada General Insurance. The former announced it has closed the acquisition, which was originally announced in June.

The headquarters of the company's new asset will remain in Toronto, but the firm will be rechristened Travelers Canada.The American firm reached a deal with Canada-based E-L Financial to buy Dominion for around $1.1 billion in cash.

In the press release announcing the news, Travelers quoted its Vice Chairman and Head of its Financial, Professional & International Insurance division Alan Schnitzer as saying that the addition of Dominion "creates an exceptional platform for strengthening our presence in Canada and expanding our relationships with customers and brokers." TRV.