Adjusted book value per share increased 14% year-over-year to $144.57, excluding unrealized investment gains and losses.
All three segments showed strong net earned premiums and excellent profitability: Business Insurance combined ratio improved to 88.3%, Bond and Specialty to 87.8%, and Personal Insurance to 79.3%.
Capital returned to shareholders totaled $809 million, including $557 million in share repurchases and $252 million in dividends.
Net earned premiums grew 7% to $10.9 billion with an underlying combined ratio improving 3 points to 84.7%.
Net investment income after tax was $774 million, a 6% increase from prior year, driven by a growing fixed income portfolio with total invested assets surpassing $100 billion.
Operating cash flow was $2.3 billion for the quarter, marking the 21st consecutive quarter with over $1 billion in operating cash flow, totaling over $40 billion in that period.
The Travelers Companies, Inc. reported exceptional Q2 2025 results with core income of $1.5 billion or $6.51 per diluted share and a core return on equity of 18.8% for the quarter, 17.1% on a trailing twelve-month basis.
Strategic Portfolio Rebalancing and Capital Return Plan
Cannae has sold approximately $1.1 billion of public company stakes since February 2024, significantly reducing its public holdings from 63% to 22% of assets.
The company expects to receive around $630 million from the sale of Dun & Bradstreet, which will be used for share repurchases, debt repayment, and dividends.
Cannae has repurchased 7.6 million shares, or about 12% of outstanding shares, at an average price of $19.71, aiming to close the NAV discount.
The company increased its quarterly dividend by 25% to $0.15 per share, reflecting a commitment to returning capital to shareholders.
Since February 2024, Cannae has returned approximately $414 million through buybacks and dividends, demonstrating a strategic focus on capital deployment.
Dafinchi